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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Paul Engel who wrote (38747)	10/7/1998 10:36:00 PM
From: Joe NYC	Read Replies (2) \| Respond to of 1578633

Paul, For many Japanese banks, this means dropping one of their sure revenue sources (U.S. Bond and Treasuries Interest) Whenever something looks like a sure thing, everybody will start doing it and in the end it will end up sure way to lose money. Japanese have to deal with the currency translation, which can eat up all the profits, or if hedged, the yields will be reduced to something close to their domestic yields. Joe

To: Paul Engel who wrote (38747)	10/7/1998 11:35:00 PM
From: Jim McMannis	Read Replies (1) \| Respond to of 1578633

Paul, Two things and then a note to a glowing bull from an associate of mine, a former Vice President of T. Rowe Price and market historian. As far as repatriation of funds to Japan from our bonds... This won't happen until the necessary reforms occur in the Japanese banking system. At that time the returns in Japan will be much greater than left in a T-Bond. Seems their are some good proposals in the works. So far the spread between borrowing in Yen and loaning in dollars has been found money for the Japanese. The drop in the dollar of late is most suspicious however. So I'm on alert. I gathered this note just for those who think that our little AMD vs Intel battle somehow operates in a vacuum. It's a reply to a glowing bull who still thinks it's still buy and hold Nirvana on wall street. "Oh, come on now... you're SMARTER than that! This isn't just one more, itsy-bitsy correction! Get a chart book. Take a few few minutes to look at the pure, unadulterated DEVASTATION that has already hit most stocks. We're now in a phase that can be called THE MAD SCRAMBLE FOR SHELTER. Every money manager alive is disregarding fundamentals and is doing nothing but switching money into ANYTHING that looks as though it's going to be higher a week from now! The INVESTMENT process has TOTALLY collapsed! Soon, the old saying will apply... "when they raid the house, they take ALL the girls." This has the earmarks of one of the most ......................<End of Page 1>....................... horrific bear markets in a generation! Everywhere you look there are stocks that sold for $30 less than two years ago now selling at $6 or less! And now, they're only beginning to get to the "sacred cows." Soon there will be no more places to hide. "Doomsters," "Gloom and Doomer's," or call us just plain "bears." You HAVE to admit it... being overly optimistic these past eighteen months was the WRONG side - and it still is... Those who haven't squirreled away their capital are now in deep, deep doo-doo. If we don't get that rally soon, there will be many crowded ledges." All the best...Jim