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Strategies & Market Trends : JAPAN-Nikkei-Time to go back up? -- Ignore unavailable to you. Want to Upgrade?

To: chirodoc who wrote (719)	1/29/1998 12:56:00 PM
From: Worswick	Read Replies (1) \| Respond to of 3902

Chirodoc according to my friends in Tokyo the banks have negative equity at 14,000 and at that point they can't make the reserve requirements for international banks come March of this year. So, I think the gvt. will prop the hell out of banks until March. After that...Alexander Kinmont says 10,000 which I think is possible. He is not a wild man. He and Marc Faber in Hong Kong are really pretty astute and are the resident area bears. At some point the Japanese banks are going to have to "come clean". They have never really written down, or marked-to-market the excesses of the '80's. At this point I view Japan as a rigged market. I am not in the market. If I was, when I am, I'll be in the surviving mid- to small caps. This in a "new" world of a freer market with "new" international standards. Probably all this has been gone over 10,000 times on this board and I am repeating what everyone else here has said. There are some big Japanese banks in real trouble. More than probably negative equity time. I heard rumors from Japan that it might be the Osaka banks who start the slide when it comes.