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To: Bill Harmond who wrote (36249)	1/23/1999 7:34:00 PM
From: KeepItSimple	Read Replies (1) \| Respond to of 164684

But aren't you still long the internuts and various other tech companies? Or are you now officially a market bear? (if so, its about time!) > The market is up on stilts.

To: Bill Harmond who wrote (36249)	1/24/1999 2:42:00 AM
From: GST	Read Replies (2) \| Respond to of 164684

William -- <<Brazil was supposed to provide the fire-break to stop global contagion from reaching the US>> Brazil was the one place where the tradtional IMF medicine was expected to work -- devaluation was always in the cards but it was the one area of contention with the IMF. It was good to get it over with. China and then Japan are the real concerns. Brazil, at most, will reduce our growth or induce a mild recession. If China devalues, we have bigger problems. Until very, very recently, a Chinese devaluation was not contemplated. It is not priced into the market. Worse, it points to much greater global instability and systemic risks, which would hurt far more than a mere 'slowdown'. The markets are not sure what this all means, but more and more are reducing their exposure.

To: Bill Harmond who wrote (36249)	1/24/1999 2:49:00 AM
From: 16yearcycle	Respond to of 164684

Thanks for your response. I agree with much of what you have laid out, and am thinking of diving out. I have my finger on the trigger entering this week. I think we may see bargains later this year. Best wishes. Gene