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To: JMD who wrote (7433)	1/22/1998 6:18:00 PM
From: John Hayman	Read Replies (1) \| Respond to of 152472

Mike, ( Off topic, Asia ) An interesting article in Forbes, Jan. 26 by David Roche: he states that it is the Japanese government bond that is going to get us all in the end. He feels you should short Japanese gov. bonds and put the proceeds into US Treasurys. He sees the yield on the 30-yr. bond dropping from 6% to 5% over the next couple years....a 20% return. His whole idea here is world DEflation. I haven't gone into the rationale here, but that is the gist of the article. Since Ramsey started this asia thing I have been checking things out, and my conclusion is we haven't heard the worst yet. Ramsey may be right, he could look like a genius after it is all over! I am sitting on more cash now than I ever have....but, who knows? The main question is the Q, where from here? Also, try Bud, Good luck all, John

To: JMD who wrote (7433)	1/22/1998 7:04:00 PM
From: Ramsey Su	Read Replies (2) \| Respond to of 152472

Mike, if you want more punishment, I will be glad to give you my disertation on the Asian situation when I have time. Having given it a lot of thought lately, I am reiterating my bearish outlook. If you really care about my thoughts, here is my strategy of the day. Cash if you are chicken. Sell out of the money covered calls on any rally, for the stocks that you want to hold. Short on any rally, stocks that are ridiculously optimistic about the future. My favorite in the last category is Dell and CPQ. If they can maintain their growth rate of the last couple of years, then Michael Dell or Peiffer (sp) should be appointed to replace Clinton next week, when he resigns. Have to run but let me know if you really want a big long boring story on SEA. Ramsey