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To: John P. Henrie who wrote (2968)	4/12/1998 1:39:00 AM
From: Candle stick	Read Replies (2) \| Respond to of 164684

Another great post from "Rogers Short picks" thread, by Pancho: Monday's WSJ front page. Enough negative stuff to get the dow to rally at least 100 points! 1998 Microsoft officials met for more than three hours with the Justice Department's top antitrust lawyer, but neither side would say what was discussed. The meeting came 11 days before a crucial court hearing in the two sides' antitrust dispute. * * * The Bank of Japan intervened on the foreign-exchange market Friday, the second day in a row it has moved to support the yen. The dollar moved solidly lower against the Japanese currency, but traders remain doubtful about the long-term effect of the intervention. Meanwhile, stock and bond markets in the U.S. were closed for the Good Friday holiday. * * * The U.S. supported Japan's bid to shore up the yen, but didn't join Tokyo in intervening in currency markets, expressing some skepticism about whether Japan is altering economic policy enough to justify a change in U.S. foreign-exchange policy. * * * Many economists were critical of a new package of tax cuts proposed by Japan's prime minister, saying the plan looks unlikely to address deeper structural problems. * * * The SEC cleared a plan that would loosen restrictions on how far stock prices can fall before trading must be halted, meaning that it will now take an unprecedented 30% drop in the stock market to shut down the nation's exchanges for the day. * * * * * MCI revised its results for the fourth quarter and 1997 as a result of accounting changes. As a result of the changes MCI will shift the bulk of $147 million in charges to the first half of 1998. * * * Japan's central bank punished 98 employees in connection with a bribery scandal that has shaken the country and its powerful bureaucracy. Penalties ranged from reprimands to temporary salary cuts. * * * South Korea's Dooray Air Metal Co. said Saturday that it was declared bankrupt by its creditor banks after failing for the second consecutive day to honor maturing debts. Pancho I bet the papers right before the crash of '29 were similair in content..........;^)

To: John P. Henrie who wrote (2968)	4/12/1998 1:42:00 AM
From: Candle stick	Read Replies (2) \| Respond to of 164684

From a Wharton B-School professor: "How Scary is this market, really", pathfinder.com An excerpt: Traditionalists dismiss all that as naive. "We are in fact in a new era," says Chuck Zender, managing director of Leuthold Group, a Minneapolis research firm. "But all new eras end." Maybe so, but it's the bulls who have been right so far. What's more, in late March they seemed to be joined by no less an authority than Warren Buffett, who opined in the Berkshire Hathaway annual report that the market was not overvalued. Investors took the Dow up 116 points the very next day. We were tempted to consider the case closed right there, but for one other curious piece of data in the annual report. Buffett bought only $714 million worth of stock last year, while selling over $2 billion worth. That $714 million is the least Berkshire has invested in equities in years. In fact, the only year that comes close (and not even that close, as a percentage of Berkshire's net worth) is 1987, when he spent $550 million. And you remember what happened in 1987. ;^)