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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (89357)	2/9/2001 12:50:27 PM
From: Kapusta Kid	Read Replies (1) \| Respond to of 132070

Mike, I think Flek said it all last night: Companies fail ===> Banks bail them out Banks fail =====> Big banks bail them out Big banks fail ===> Countries bail them out Countries fail ===> The IMF bails them out The IMF fails ===> The G-8 bails them out One of the G-8 fails ===> The G-3 bails them out One of the G3 Fails (say Japan) ==> The G-1 bails them out The G-1 fails ===> The FED and treasure try to bail them out The Fed and treasure fail ====> ?? The pattern has been clear for more than a while now. Bailouts do not work. Economic viability and liquidity driven performance are not substitutes. Rationality will return. The hard way. BTW, he thinks Japan is worth watching (I've been watching for a few months). He believes despair and capitulation may be at hand there.

To: Knighty Tin who wrote (89357)	2/9/2001 12:51:51 PM
From: ild	Read Replies (1) \| Respond to of 132070

MB, Are you still bearish on banks? How do you explain that stocks like HI are near 52 week high? Who are you favorite targets in consumer financing? Thanx - ild

To: Knighty Tin who wrote (89357)	2/9/2001 2:22:01 PM
From: tom r. phillips	Read Replies (1) \| Respond to of 132070

Michael -- re. puts on the likes of FNM, FRE, etc. now. ripe after their little runup? others? by the way, thanks for all you've shared here. good luck in your career move. (Freud said one's choice of career, like one's choice of mate, ought to roll out of the unconscious -- bet you have a good one!) Tom

To: Knighty Tin who wrote (89357)	2/9/2001 2:47:56 PM
From: Kapusta Kid	Read Replies (1) \| Respond to of 132070

Mike, a bit more on Japan. Right now, I own 3 International Value Funds. These funds are all concentrated, best idea funds, so their exposure to Japan at the moment is minimal, if not non-existent. However, I've been visiting a Japanese web-site called nikkei.net. It's a subscriber site, but I peruse it in order to get a feel for the market and economic sentiment, which is very gloomy indeed. Today's articles contained one about the fact that house-hold spending in Japan is now down for the 8th consecutive year. Another expressed doubt that the recent discount rate cut (from 0.50% to 0.35% -- these numbers are correct) would help boost the economy. But, a less opinion-oriented piece said that, although a previous quarter GDP trend was revised down, it is believed that the latest quarter will actually show GDP growth. So, once again, your timing looks good, MB. Everyone should keep Japan on his radar screen. I think the chances of an extra kick from the currencies are also excellent.