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

To: Jack Whitley who wrote (20861)	3/9/1998 11:15:00 AM
From: dwight vickers	Read Replies (1) \| Respond to of 42771

Jack, I would not defend the Japanese economic model. The point should be that no matter where you hold equities, they are still equities. Losses in 401k's will still be losses. The Japanese banks that received the saver dollars were likely investing them directly in stocks in 1989. Although the Japanese people themselves were as confident of their stock market as we in the U.S. are today. But by about 1994 the assets in Japanese mutual funds had dropped by 90%. Partly caused by declines in their stock market, exacerbated by formerly "long term investors" pulling out what they could salvage before they "lost it all". Investor psychology never changes. And cycles are cycles. They usually look different, but the results wind up very close to the same. Dwight