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The post-crash behavior in Japan seems to be generally mirroring post-29
behavior in US, right down to negative TBill rates. Given the propensity of
the Japanese public to pay the government to keep their funds "safe" and
accept absurdly low interest from the postal savings system, I would venture
that not much will find its way into the equity markets. It is foreigners
(like me) who choose to invest outside the overvalued US market who have
poured massive sums into the Asian markets after the shakeout last October.
Of course, much of that money is relatively mobile and will not stay put if
things don't keep looking up. In other words, the equity market has had a
heck of a run (up about 70% in 10 months) and when the funds stop flowing
into Japan, I think you can kiss the equity market good-bye for a while.
Earl
----- Original Message -----
From: Gwenael Gautier <ggautier@xxxxxxxxxxx>
To: 'List RT' <realtraders@xxxxxxxxxxxx>
Sent: Tuesday, August 24, 1999 8:19 AM
Subject: Who is invested in funds?
> According to the german DWS fundsmanager, there were 9700 Billion Euros
> invested worldwide in funds end of June, or 20% more than the Year before.
>
> Us citizens have invested 5873 billion Euros
> European citizens have invested 3195 billion Euros
> Japanese citizens have invested 401 billion Euros
>
> Where is the potential?
>
> Next year, 1500 billion Euros in japanese postal savings of the old 6-8%
era is
> coming for redemption. Where will the money go?
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