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To: LemurHouse who wrote (44162)3/21/2001 9:18:55 AM
From: Ian@SI  Respond to of 70976
 
Andy,

I believe that the Japanese banks are going to be forced to "mark to market" all their holdings. I certainly wouldn't want to be anywhere near Japan as their Book Value melts away.

There are very good reasons why Japan sells at twice "book". Come April, it may well be 4 times book but at a much lower level for the Nikkei.

Despite all the problems, IMO, the long term outlook for the S&P beats the Nikkei hands down.

Ian.



To: LemurHouse who wrote (44162)3/21/2001 10:30:19 AM
From: Sam Citron  Respond to of 70976
 
Andrew,

You are correct, but the big picture is that Japan is at last taking aggressive and painful steps toward reform. I think that the Japanese bear market of 1990-2001 is history.

Sam


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