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To: DJBEINO who wrote (1912)11/2/1997 11:06:00 PM
From: DJBEINO  Respond to of 9582
 
For his part, Ward favors Taiwan semiconductor manufacturers United Microelectronics and TSMC, which have strong earnings-growth prospects and are looking very cheap. His rule of thumb: "You should ask how much of a company's sales are in Asia and how big its U.S.-dollar denominated borrowings are." Companies that export their products need not convert their earnings into the local currency or use them to pay their foreign loans. So they actually win from the currency crisis on almost all fronts.

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