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Strategies & Market Trends : HONG KONG -- Ignore unavailable to you. Want to Upgrade?

To: Tom who wrote (2422)	10/12/1998 4:24:00 AM
From: Tom	Respond to of 2951

Killer hedge-hogs...popular as great white sharks at a surf carnival... Wall St fears a new fund debacle Fear and loathing is reaching fever point on Wall Street as financial markets struggle through the mess created by greedy hedge funds and the securities firms that funded them. The killer hedge-hogs and their lenders are as popular as great white sharks at a surf carnival after sparking a fortnight of turmoil and volatility in bond, currency, equity and derivative markets that warped fundamentals and slaughtered sentiment. Even the non-gambling, unleveraged hedge fund managers and their slightly less conservative brethren are torn between castigating the arrogance, avarice and unfettered leverage of their high-rolling counterparts and pretending that they themselves are really plumbers or actuaries. smh.com.au The gentleman has a ceratin way with words. <g>

To: Tom who wrote (2422)	10/12/1998 1:51:00 PM
From: Bosco	Read Replies (1) \| Respond to of 2951

G'day all - dear Tom, thanks for sharing with us John Crudele's [is this a pen name, I mean, gosh, with a name like this, NYP certainly deserves its place among its peers <vbg>] article from New York Post. Well, there we have it, Kenny Starr's production and HK financial health can be spoken in the same breath! Speaking of rigging the market, sure, SEC is doing it. Think of those side car triggers and all! The point is that between 2 extremes there is a great middle. Writers like to dramatize the all or nothing scenario; however, common sense has told us [see, no technical jargon <G>] that HKMA action, while out of the ordinary, is a lot more free market driven [it bought the stocks, index and future contracts on open market, did it not?] when compared to the Malaysia's isolationist policy. On PBS News Hour last Fri, two commentators mentioned about the action of Argentina and Columbia who have tried to control the fund flow before this sort of hair-today-gone-tomorrow money wreck havoc to their respective economies [sorry, can't find it online.] So, in the end, while QF and Tiger complained bitterly about HKMA, the latter would be seen as plain stupid not to defend itself. best, Bosco