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In a message dated 4/14/00 6:03:47 AM Pacific Daylight Time,
owen@xxxxxxxxxxxxx writes:
<< Has anyone done rigorous studies of how closely the
S&P, Hang Seng, FTSE, etc. are correlated? How much
of a change in one it takes to influence the others? >>
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International funds as expected had SEVERE downside follow
through to violent selling in NASDAQ. Most International "Growth"
type funds are now loaded with Tech/Telecomm/Media (TTM) and
on the selloff in NASDAQ,...anything Tech / Internt related got trashed
overseas as well. On March 10, with the NASDAQ at 5048 (up 24%
YTD, many Tech heavy International "Growth" type funds were similarly
up 24% YTD. I find many of these funds trade 1:1 with the NASDAQ on
a % retrun basis,...upside and downside. After being up around 25% YTD
on 03-10, most International "Growth" type funds with heavy TTM exposure
are now down YTD in synch with NASDAQ. Clearly NASDAQ is the
market driving these Intntl. Growth type funds. Regards, JIM P.
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