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

To: Jack Clarke who wrote (6022)	8/30/1998 4:53:00 PM
From: Ramsey Su	Read Replies (1) \| Respond to of 9980

Jack, some may argue that holding HSBC or HKT may not be that bad an idea? I personally don't follow HK stocks enough to determine if they are over or under valued. As for market manipulation, I would love to do it myself if I have the type of insider information HKMA possesses. Can you imagine if Greenspan is allowed to trade? I sure would hate to bet against him. Ramsey

To: Jack Clarke who wrote (6022)	8/30/1998 5:29:00 PM
From: Joseph G.	Respond to of 9980

<<a lot of people may be holding overvalued stocks (as are most in the US)>> But you surely do not mean AMAT ? AMAT is full of value, P/E is only 90, P/S is only 5, and Ramsey is not a speculator to hold AMAT, he's an Investor! -g-

To: Jack Clarke who wrote (6022)	8/30/1998 9:14:00 PM
From: Bosco	Read Replies (1) \| Respond to of 9980

G'day all - dear Jack, I agree with you totally that "market manipulation never works for very long." However, this statement goes both ways, i.e., artificial support [by HKMA intervention] and hedge fund induced bear market. To me, both are short term manipulation of the market. So the key is to assess if HK's stock market is overvalued. While HK has officially entered the recession zone [contracting by 5.5%] and property values have declined by 50%, the stock value has gone back to the 1994 level. In fact, before the intervention has begun, the HSI was hitting the 8 year low. best, Bosco