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Non-Tech : Any info about Iomega (IOM)? -- Ignore unavailable to you. Want to Upgrade?

To: HardMoney who wrote (33714)	10/28/1997 12:12:00 AM
From: D.J.Smyth	Respond to of 58324

here is a comment from a threader living in Hong Kong on CYMI thread: To: Style Pts (6881 ) From: Jess Beltz Monday, Oct 27 1997 10:57PM EST Reply #6882 of 6892 Here in Hong Kong, a full scale meltdown is underway. The Hang Seng Index is down over 1,600 points (15.5%). Except for the obvious, this is the most ridiculous economic event (the sympathetic crash in the US) that I have ever witnessed. There might be other problems with the economies of neighboring countries with some (albeit small) effect on some US companies, but there is absolutely nothing that could happen on this little rock with respect to its economy that should have any kind of impact on the US economy like what is now going on. Furthermore, the causality almost always goes in reverse. Asian Stock Markets react to what happens on Wall Street. The American Economy is slowing a bit but basically is rock solid. What is happening in New York is pure panic selling, driven in large part by the perception that one should get out with some profits while one still can. It's what we call a bad Nash Equilibrium: if you know the price will be lower at the end of the day than it is at the moment, you should sell too! jess. (my comments: the comments from CNBC appear appropriate - people were looking for an excuse to sell and Hong Kong gave them that excuse)