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Technology Stocks : Rambus (RMBS) - Eagle or Penguin -- Ignore unavailable to you. Want to Upgrade?

To: Dr. Id who wrote (7878)	10/5/1998 10:17:00 AM
From: Michel Bera	Read Replies (1) \| Respond to of 93625

Jeff, *** O.T. *** I am amazed of how well the US tech stocks have held still in this turnmoil. But when I read in Barron's (or was it WSJ ?) that JP Morgan had also an exposure to some shaken hedge funds, I went 100% cash today (yes, my heritage stocks...). All stock exchanges need an audit of how much off balance-sheet (with the 10 to 20 times leverage) there is in margin exposure to those hedge funds, and I am not sure that everybody wants to know about it. If I understand correctly, when a H-F defaults with a ten times leverage exposure on $10B assets, the loss - real money to write-off this time - involved for his shareholders is $100B ? This will make the Russian crisis look like childsplay. Paris market has gone crazy too, but it is so small. Just two pessimistic cents, MiB