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Strategies & Market Trends : Bill Wexler's Profits of DOOM -- Ignore unavailable to you. Want to Upgrade?

To: Yamakita who wrote (2341)	9/4/1998 12:42:00 AM
From: PaperChase	Read Replies (2) \| Respond to of 4634

Yikes. You bought calls on Chase? The bank with some of the largest off balance sheet derivative exposure to Southeast Asis? Did you know this before you bought the calls? You may not understand the magnified effect of derivative exposure on bank capital. Small moves in derivatives can wipe out a bank's capital base. Chase may not survive two years out. Also, why do the Japanese tend to invest heavy at manic tops? Hey, Americans are just as guilty of going long at the top of the market but the runup this year from Dow 7800 to Dow 9300 is almost entirely attributable to Japanese money flowing into our market. The coming market selloff will add insult to injury to Japanese investors who are already reeling from their own market woes.