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Technology Stocks : Novell (NOVL) dirt cheap, good buy? -- Ignore unavailable to you. Want to Upgrade?

To: Paul Fiondella who wrote (19247)	12/27/1997 3:14:00 PM
From: dwight vickers	Read Replies (1) \| Respond to of 42771

Foreign holdings of US treasuries have dropped almost 7% since early September. $647 billion then, to $603 billion this week. If we keep operating near flat on the budget we may be able to survive a pullout of funds by the Japanese. It would help if the stock market turned weak and people started looking to bonds as a safe haven. Of course if they began re-patrioting and it did cause a runup in interest rates, we would have one heckuva triple top in bonds. Still I can't help but think that any runup in rates would be short lived in a deflating world. Dwight

To: Paul Fiondella who wrote (19247)	12/28/1997 11:31:00 AM
From: dwight vickers	Respond to of 42771

One more comment on the 4% capital requirement for Japanese banks. They are operating at 1/2 the international standard. The collateral is their stock, their real estate, and loans to Asia. How would you like to see how that looks marked to market? Stop, I'm scaring myself!!!!!! However, I keep reminding myself that they pulled a rabbit out of their hat when our markets were about to implode in 1987. Don't think they can do it forever, but they have the capability of putting off the inevitable for extended periods of time. (Notice the use of the mysterious "they"?) Dwight (If anyone wants to talk about NOVL just jump in and I'll shut up!)