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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Michael Burry who wrote (4182)	5/28/1998 3:50:00 PM
From: Brendan W	Respond to of 78535

Mike, there's a pretty interesting article in this month's Euromoney on global custody banks (e.g., BK, STT, MEL) ... it expects them to do an increasing amount of equity trade executions (i.e., the transaction business). I was amazed to see State Street has over $3.4T in assets in custody. That's right, "T". I think several hundred billion flow through the bank every day.

To: Michael Burry who wrote (4182)	5/28/1998 5:25:00 PM
From: jeffbas	Read Replies (1) \| Respond to of 78535

Those were 2 interesting articles, especially the first one, relating to Japan. I have no opinion on whether we are going to have a major drop is US stocks. However, I am highly skeptical that it will be driven by higher US rates. Asia and Japan are in the tank, so it seems is much less important Russia. I think the Fed will fall all over itself to avoid raising rates. In fact, to paraphrase the first article, I think it will tolerate a reduction in real rates by permitting increased inflation. Does anyone really think they will be the agent of a US recession, which, in view of substantial weakness overseas already, could trigger the world-wide Depression of 1999?