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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (13350)	8/5/1998 6:28:00 AM
From: gdichaz	Read Replies (1) \| Respond to of 152472

One of the headlines this morning which would be amusing if it were not just sad was "Asian Markets Plunge". This is absolutely, totally and completely misleading - but typical of mainstream "reporting" [sic.] After the Wall Street program trade sell carnage, the Asian markets are actually falling by relatively minor amounts. But who cares what the actual situation is when a catchy headline is being composed? Also the "reporting" and "analysis" of the Wall Street "plunge" orchestrated by program sell programs was reported as if the individual investor was responsible. Absurd. Finally, the idea that Asia and economic factors were responsible for what happened yesterday is flawed IMO. Was it just a coincidence that the big boys pulled the sell program levers when the Chief Justice decided not to permit further delay in White House taxpayer funded lawyers' testimony? Well in the stock "market" cause and effect are difficult or impossible to determine. But the coincidence of events is suggestive - given the timing of the drop and the Chief Justice's action. Wall Street hates uncertainty (at least the "professionals" do). And the recent events politically have seemed to ramp up uncertainty in US politics at the Presidential level exponentially. Could this be a factor in the "plunge", who knows? But suggest it may have had more impact than "Asia". All just rambling and musing, since the Q will go onward and upward based on its own fundamentals - though price action will be sharply affected by what economists love to call "exogenous" factors of course. All IMO. Comments?

To: Maurice Winn who wrote (13350)	8/5/1998 8:25:00 AM
From: kech	Respond to of 152472

Maurice - As you said it, the Japanese are sticking to your first principles and not supporting a government bailout. Paradoxically, it is the free market US folks that want them to have the taxpayers fund a takeover to keep the investors partially whole. Isn't it interesting that the Japanese are focusing on the long term implications of precedent in "bailouts" and sticking to first principles. I don't see why they can't stick to this principle, but also at the same time recognize the importance of their position in the Asian economy and increase growth. They have the bucks! " The principle that insolvent banks should be liquidated isn't what happened in the USA S&L. Nor New Zealand in 1988/89. The taxpayers funded a takeover to keep depositors whole, to coin a phrase. Personally, I think depositors should be liquidated as well as the insolvent banks. No S&L rescues in my book! I go for first principles. Peripheral processing." Tom