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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Rmn who wrote (11506)	12/14/1997 8:49:00 PM
From: Jack Clarke	Read Replies (1) \| Respond to of 18056

Thanks to Ramsey and Zeev for the Socratic dialogue which makes concepts easier for many of us to grasp. By the way, Japan has now recovered to only down 80 and SK is up 6%. The globex spoos initially dropped like a rock to -6, and have now recovered to +2.5. Volatility! Good night all. Jack

To: Rmn who wrote (11506)	12/14/1997 8:56:00 PM
From: Elllk	Respond to of 18056

Ramsey Well it certainly was partly in response to the bank failures. A lot of people are staying away from banks and considering all kinds of new schemes. Two farmers in Nagano just received suspended jail sentences for the cow investment scheme ("since Japanese law does not consider farmers 'authorised financial institutions'" [they probably have too much integrity to qualify]). There is also reported to be an Australian company called Global Ostrich which will offer Japanese savers a chance to invest by "buying" ostriches next month [might look for a chikerati plot here!!]. Supposedly a similar scheme recently boomed in Hong Kong even though a similar one collapsed a while ago in Europe and is now being investigated. This account is in weekend Financial Times, Dec. 13-14. Larry