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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Joey Two-Cents who wrote (14107)	9/26/1998 12:16:00 AM
From: larry	Read Replies (1) \| Respond to of 18691

JTC, Thanks for your response. I do agree that the world financial market is a mess right now. However, my argument is whether things will get worse or not, how worse...etc. I also hold the view that the US economy is strong and healthy, for reasons stated by others. Also I have to disagree with you that China is going to devalue its currency soon. Count on my words, fellow, because I know more about China than perhaps every single economist in the US. And don't underestimate the power of the Chinese government. They would rather see the unemployment going straight up than to devalue its currency. Lots of this bullshit rumors stemed from hedge fund players and major US brokerage houses who were short HK and Asia stock market. Their recent embarrassing defeat in HK is only the first lesson the Chinese ( or HK) government taught them. There will be more to come if they are still not believers. These guys just need to pay more tuition fee.:) I also believe that these guys hold too subjective view. China won't devalue because these guys think that China has to devalue. The Chinese has had pretty successful economic reform based on its own model (much much better than the model Russia used following the advice from US). IMHO, the only thing that will totally shake the US market is that China devalues and thus deteriorate the Asia market further. But that will not happen.