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Tony, as always, your remarks were very insightful. However, let me add to my
commentary beginning with analyst comments that a capitulation is required to
signal a market reversal. Well, we're in a cycle in which the bad news is being
emphasized and the good news is being ignored. Yeah, there is good news!
First, the government is cranking up the presses to spend money, which in many
ways finds it's way into the markets. Even at the least they'll be inflationary
pressures that could beef up earnings numbers.
Secondly, we are entering a phase where technical resources have to be
replenished. Does anyone doubt that the systems in the WTC and its surrounding
facilities won't be replaced? All that software and hardware has to be
reinstalled, and probably in redundant installations. Not only that, do you
think the airlines aren't going to reorganize with more highly sophisticated
equipment? Do you think the military won't replenish and begin a fervent upgrade
effort? How about all the organizations that are involved in anti terrorism.
Don't you think they'll be upgrading on a massive scale? With all the gloom, I
think this period will be a bonanza for companies in the technical fields.
--
Ralph => E-mail => rjv@xxxxxxxxxx
Tony Pylypuk wrote:
> There is another possibility regarding the lack of success of foreign
> investors in American securities - namely, that the knowledge of domestic
> markets which is possessed by foreign investors is often time-delayed and
> culturally decayed. Although some active traders and sophisticated
> investors can, regardless of where they are located, trade and/or invest
> with success any where in the world, non-professionals are generally
> hampered by lack of sufficient access to market related news in the target
> market and by being physically and culturally removed from that market.
> Even the wealthiest can fall into this trap, as is evidenced by the forays
> of the Japanese in the 1980's into the American markets and their subsequent
> retreat with devastating losses in the 1990's.
>
> The disconnect is no doubt compounded by the intercession of a broker who,
> in the pursuit of commissions, may not recognize the limitations of his or
> her ability in foreign markets.
>
> All of which may result in the truth of Ralph Volpe's comment of buying high
> and selling low.
>
> FWIW
>
> Regards,
>
> Tony
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