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To: PaulM who wrote (16690)	8/26/1998 10:43:00 PM
From: Alex	Respond to of 116912

Global crisis to set tone for elite Fed symposium By Knut Engelmann WASHINGTON, Aug 26 (Reuters) - Top world central bankers will be gathering at an exclusive Rocky Mountain resort this weekend for a top-notch symposium against the backdrop of a seemingly unstoppable firestorm in global financial markets. The scheduled topic of the gathering of policymakers, academics and market professionals in Jackson Hole, Wyo., is the issue of rising income inequality around the globe. But the unfolding drama in Russia and other emerging markets is likely to feature prominently at the three-day event, the 22nd such symposium organized by the Federal Reserve Bank of Kansas City, participants and analysts said on Wednesday. ''I can't imagine that there won't be a lot of talk about emerging markets,'' said Alan Blinder, former vice chairman of the Federal Reserve Board and now a professor of economics at Princeton University, who plans to attend. ''This issue, in varying degrees, has been at the top of the agenda since the Asian crisis broke more than a year ago.'' A full-blown financial meltdown in Russia, aggravated by continuing turmoil across much of Asia and persistent worries over Tokyo's ability to see through reforms necessary to rescue its own economy provide a somber undertone for the meeting. As the financial crisis that was kicked off in July 1997 by Thailand's devaluation of its baht currency has slowly spread around the globe, the line between domestic and international economic policy has become increasingly blurred. So much so, in fact, that the turmoil in emerging markets has been the key factor in convincing the Federal Reserve to hold key U.S. interest rates steady ever since March 1997, even in the face of a robust domestic economy that time and again has stoked fears of rising inflation. Fed watchers are keen to hear whether Fed Chairman Alan Greenspan and his colleagues on the rate-setting Federal Open Market Committee, most of whom are set to join him in Wyoming, will drop any hints on the future path of U.S. rates, the key determinant of borrowing costs elsewhere in the world. The analyst community is split on where they would like rates to go. While Greenspan has over recent months reiterated his standard warning of a rate rise should the economy fail to slow down soon, there is a growing number of economists who argue the next move should be a cut to cushion the impact of Asia's crisis on the U.S. economy. ''With what's going on overseas and U.S. inflation subdued, the balance of risks has shifted away from inflation and there would be a case for a Fed rate cut,'' said Jim Glassman, senior economist at Chase Securities Inc. in New York. Others, such as Blinder or Lyle Gramley, another former Fed board member, have argued that any rate change now would only cause even more upheaval in already jittery financial markets. Greenspan is expected to open the symposium's first policy session on Friday with a brief introductory speech. Over lunch, the 100-some participants are scheduled to hear remarks from Thai Finance Minister Tarrin Nimmanahaeminda. Greenspan's deputy, Alice Rivlin, will open Saturday's morning session. Also on the list of participants: Stanley Fischer, the International Monetary Fund's first deputy managing director. He could provide the conference with a first-hand account of the IMF's efforts to contain the Asian crisis and put in place programs to cushion the impact of mandated economic reforms on the poor in many affected countries.

To: PaulM who wrote (16690)	8/26/1998 11:20:00 PM
From: Alex	Respond to of 116912

I just think the cupboard is bare Paul. The risktakers may actually have to take a loss. There will be some squealing now : - )

To: PaulM who wrote (16690)	8/27/1998 8:22:00 AM
From: long-gone	Read Replies (3) \| Respond to of 116912

Abbey says the market is undervalued. Can someone please explain "value" to me? as always, I hold no positions in any of these(though that may change soon). I do not say anything about the values of these companies, I rather ask questions, & report thes numbers from yesterday close: THREE COM CP (Nasdaq:COMS) 29 1/4, Earn/Shr = 0.08, P/E= 375.00, Mkt Cap= 10.488B Div/Shr = N/A, Yield= N/A ACE*COMM CORP (Nasdaq:ACEC) 3, Earn/Shr =-0.63, P/E= N/A, Mkt Cap= 26.4M Div/Shr = N/A, Yield= N/A AEGIS COMMS GP (Nasdaq:AGIS) 2 1/4, Earn/Shr = N/A, P/E=N/A, Mkt Cap= 49.1M Div/Shr = N/A, Yield= N/A AIRTOUCH (NYSE:ATI) 64, Earn/Shr= 0.99, P/E= 64.14, Mkt Cap= 36.727B Div/Shr = N/A, Yield=N/A BROADCAST.COM (Nasdaq:BCST) 53 1/2, Earn/Shr=-0.79, P/E=N/A, Mkt Cap= 903.2M Div/Shr = N/A, Yield= N/A BROADCOM CORP (Nasdaq:BRCM) 66, Earn/Shr = 0.38, P/E=175.66, Mkt Cap= 2.887B Div/Shr = N/A, Yield=N/A COM21 INC (Nasdaq:CMTO) 16 1/4, Earn/Shr= -1.18, P/E= N/A, Mkt Cap= 301.0M Div/Shr = N/A, Yield= N/A ECHOSTAR COMM A (Nasdaq:DISH) 26, Earn/Shr = -7.09, P/E=N/A, Mkt Cap= 395.4M Div/Shr = N/A, Yield=N/A WALT DISNEY CO (NYSE:DIS) 33, Earn/Shr = 0.94, P/E=35.11, Mkt Cap= 67.607B Div/Shr = 0.21, Yield=0.64 TEXACO INC (NYSE:TX) 59 3/16, Earn/Shr = 3.09, P/E=19.15, Mkt Cap= 31.716B Div/Shr =1.80, Yield=3.04 WARNACO INC (NYSE:WAC) 31 15/16, Earn/Shr = 0.55, P/E=58.07, Mkt Cap=2.022B Div/Shr =0.36, Yield=1.13 AGOURON PHARM (Nasdaq:AGPH) 25 1/16, Earn/Shr=0.40, P/E=62.66, Mkt Cap=773.6M Div/Shr=N/A, Yield=N/A ALLIANCE PHARM (Nasdaq:ALLP) 4 3/16, Earn/Shr= -0.92, P/E= N/A, Mkt Cap=134.0M Div/Shr =N/A, Yield=N/A MCDONALDS CORP (NYSE:MCD) 64 1/4, Earn/Shr=2.22, P/E=28.89, Mkt Cap=43.987B Div/Shr =0.36, Yield=0.56 MCGRAW HILL COS (NYSE:MHP) 82 5/16, Earn/Shr=3.09, P/E=26.64, Mkt Cap= 8.174B Div/Shr =1.56, Yield=1.90 EGGHEAD.COM (Nasdaq:EGGS) 8 11/16, Earn/Shr =-2.43, P/E= N/A, Mkt Cap= 211.1M Div/Shr = N/A, Yield= N/A GEOCITIES (Nasdaq:GCTY) 31 1/4, Earn/Shr = -0.36, P/E=N/A, Mkt Cap=958.2M Div/Shr = N/A, Yield=N/A SMARTALK TELE (Nasdaq:SMTK) 8 1/8, Earn/Shr= -4.27, P/E=N/A, Mkt Cap=183.6M Div/Shr = N/A, Yield= N/A DELL COMPUTER (Nasdaq:DELL) 128 5/8, Earn/Shr = 1.65, P/E=77.95, Mkt Cap= 81.414B Div/Shr = N/A, Yield= N/A LYCOS INC (Nasdaq:LCOS) 38, Earn/Shr = -3.13, P/E=N/A, Mkt Cap=1.408B Div/Shr= N/A, Yield=N/A FORE SYSTEMS (Nasdaq:FORE) 18 7/8, Earn/Shr = 0.44, P/E=42.90, Mkt Cap=1.918B Div/Shr = N/A, Yield=N/A EDUTREK INTL A (Nasdaq:EDUT) 8 13/16, Earn/Shr = 0.28, P/E= 31.47, Mkt Cap= 93.7M Div/Shr = N/A, Yield= N/A AMERICA ONLINE (NYSE:AOL) 110 11/16, Earn/Shr = 0.32, P/E= 345.90, Mkt Cap= 23.931B Div/Shr= N/A, Yield= N/A rh