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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Boca_PETE who wrote (3192)	2/4/1999 9:18:00 PM
From: marc ultra	Respond to of 15132

Pete, re interest rates and Japan I'm not at the moment trying to figure Japan's influence on the situation as the future of dollar/yen and the effects on our bond market of their interest rates are complicated and hard to predict. What I am mostly interested in now is the fact that our current extended valuations have been partly explainable and acceptable due to our very low interest rates and if we're starting to see higher long term rates now for whatever reason it begins to push valuations from high but explainable to high and unsustainable. Combine that with the extreme bullish sentiment we have and it makes likely lower stock prices in the near future. If I recall correctly most of our recent corrections before our global deflation scares were signaled by a temporary rise in long bond rates Marc