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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: Paul Berliner who wrote (5980)	8/28/1998 10:47:00 AM
From: Lee	Respond to of 9980

re: More Contrarian News For Personal Use Only Investment Chief: US Stocks To Rally On Earnings Growth NEW YORK (Dow Jones)--U.S. stocks will regain some of their momentum lost because of disarray overseas when companies begin releasing pre-earnings estimates around the last 10 days of September, according to James Weiss, chief investment officer of State Street Research. In an interview Thursday with CNBC, Weiss nevertheless cautioned investors, saying, "We've got a few more weeks of volatility in front of us." To hedge against a nervous market, he advised buying stocks of high-visibility companies with above-average earnings growth. "Things coming at us from overseas are challenging the idea that earnings will be OK," he said. But he remained confident that earnings growth will continue. Specifically, he recommended shares of Kroger Co. (KR), Tyco International Ltd. (TYC) and EMC Corp. (EMC). "These are the three companies we believe through our internal research can deliver the goods with regard to above-average earnings growth in the next year or so," he added. - Scott Eden; 201-938-5173 "Dow Jones News Service" "Copyright(c) 1998, Dow Jones & Company, Inc." Cheers, Lee

To: Paul Berliner who wrote (5980)	8/29/1998 10:52:00 AM
From: Worswick	Read Replies (2) \| Respond to of 9980

Don't mean to be pessimistic and gloomy but reality came through loud and clear last night on PBS, Jocelyn Ford from Tokyo says with the Japanese market declines 18 of Japan's 19 major banks were "insolvent". Since Japan is the number two economy in the world - Russia after all only has an economy the size of Denmark's - this is a major economic event. If you recall in 1990 Paul all the major money center banks in the US were "insolvent" as a result of soverign loans to South America. So. The situation is not irretreviable in Japan. The government can put together a super agency to help the banks But then you have to add the insurance companies, pension funds, et. in Japan. On a quite somber note. Today going to town to take out some money in my village where I live I noticed that the tellers who are usually very nice... were very grumpy this am. I asked why? I had evidently come in during a lull and was the only person to enter the small bank when I came in. The teller pointed behind me. I now noticed a line of ten people behind me. Outside there were 15 cars where one car usually waits for the drive-in-teller. This is happening at this moment. I asked the teller why she was grumpy. "Everyone is taking out money. Lots of money. These are not small withdrawls," she replied cautiously. If the market here goes down next week we are in for very bumpy times. Forget Japan. Forget South America. That is where the pain will come from next week. Our markets here. My best,