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To: GROUND ZERO™ who wrote (1911)	12/14/2000 4:42:25 PM
From: Real Man	Read Replies (1) \| Respond to of 4583

True. But think who played derivatives in the Russian market - US banks and hedge funds. Mostly it was the junk debt that went Ka-boom. Banks are way overextended using derivatives, and trust Black-Scholes and their own computer models too much. In the event of a true crisis, these models simply stop working. Ka-boom will really start here when at least one financial institution will be insolvent. Then big DOWN from there, and more of them will go bust. In my view we are about to start a HUGE down move from here. It will be larger than the first wave that halved NASDAQ