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Pastimes : From A to Zeev" -- SI Sacks Zeev -- Ignore unavailable to you. Want to Upgrade?

To: Jyoti sharma who wrote (224)	1/30/1998 1:58:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 708

Jyoti, I am getting my turnips into too much troubles trying to force them to give almost daily forecasts. There are always some special events (like AG appearnce before our representatives) that affect the day to day fluctuation. Yet, Nikkei has run into a wall at 17,000 and the Korean rally is way over extended and does not take into account at all the price that the chaebols will have to pay restabilize their balance sheets. Prior to the devaluation the chaebols had a huge amount of debt (a lot in foreign currencies), with the devaluation, their assets have been halved and the dollar denominated debt doubled. There will be a price to pay (selling at distressed prices some of the assets to reliquify their balance sheets thus a major down sizing of their operations) and that will be reognized by the Korean markets sooner rather than latter. Zeev