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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: P.T.Burnem who wrote (26224)	9/2/1998 1:56:00 PM
From: Philipp	Read Replies (1) \| Respond to of 94695

The fact that the news of Russia's default sent bank and other financial stocks into a tailspin indicates that the default came as a complete surprise. Only to the naive, small investor, the person who finds out last and has to pay the bill (via lower stock earnings, higher banking fees). I would not call 15 % down (Deutsche Bank, probably the biggest creditor) when the market is down by a similar amount a tail spin either. Actually it rather proves my point. Also I think that this is a rather futile argument. Every serious European investor I know knew and I don't have any insider information. Even my mother knew and she did not hear it from me. Regards, Philipp