| To: Cary Salsberg who wrote (60926) | 2/24/2002 1:39:51 PM | | From: orkrious | | | | I have a personal bright side to your scenario.
I actually have the same scenario. I got married last August. When we got engaged 13 months ago, we put my wife's house on the market (Detroit suburbs) for $420,000. We just gave up and dumped it for $353,000.
She wants a $800,000-$1.0 mil house in Birmingham. She doesn't believe me when I tell her within 12-18 months we'll get it for $500k-$750k. I know I'll be right. |
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| To: Jacob Snyder who wrote (60683) | 2/24/2002 6:10:50 PM | | From: Hawkmoon | | | | Almost by definition, the bottom in asset prices can't happen while any significant fraction of investors have any hope. Assets are ignored rather than hated, by investors.
Hmmm... I always figured that "bottoms" come when mass panic selling amongst speculators causes asset prices to be discounted to the point where value minded investors step in and purchase the assets.
When the speculators get shaken out, the REALLY smart money looks for value at prices that almost guarantee them a nifty return when the fear subsides.
After all, someone has to own the stock, right?
Hawk |
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| To: StanX Long who wrote (60822) | 2/25/2002 1:51:45 AM | | From: StanX Long | | | | Asian Stocks: Japan's Fanuc, Exporters Fall; Hong Kong Declines
By Tomoko Yamazaki
02/25 01:04
quote.bloomberg.com
Tokyo, Feb. 25 (Bloomberg) -- Japan's Nikkei 225 stock average fell for the first day in three, led by exporters such as Fanuc Ltd. after the yen had its biggest gain in more than a week, reducing the value of their overseas sales.
``The yen's sudden gain triggered selling among exporters,'' Makoto Suzuki, who helps manage $1.1 billion in Japanese equities at Chuo Mitsui Asset Management Co. ``The yen may strengthen further before the fiscal year-end.''
The Nikkei 225 stock average shed 0.6 percent to 10,296.47, while the Topix fell 0.2 percent to 987.12. Banks were the Topix index's biggest gainers as a group on hopes they will speed up their bad loan write-offs after the government announces measures to support the market on Wednesday.
In other markets, Hong Kong's Hang Seng Index fell 1.6 percent, after Global Crossing Ltd. shareholders opposed Hutchison Whampoa Ltd.'s plan to buy a stake in the fiber-optic network operator. Korea's Kospi index dropped 0.1 percent, led by Pohang Iron & Steel Co. and other steelmakers, on concern the 26 percent gain as a group in the past two weeks already reflects increasing prices of the metal. |
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| To: StanX Long who wrote (60929) | 2/25/2002 1:52:42 AM | | From: StanX Long | | | | Yen Has Biggest Gain in Seven Days as Japan Trade Surplus Rises
By Mari Murayama and Kanako Chiba
02/25 00:23
quote.bloomberg.com
Tokyo, Feb. 25 (Bloomberg) -- The yen had its biggest gain in more than a week after a report showed Japan's exports rose in January at the fastest pace in two years, leaving the companies with more money to convert into their home currency.
The yen was also helped as Japan's Chief Cabinet Secretary Yasuo Fukuda said the government would provide public funds to banks should ongoing Financial Services Agency inspections of lenders find it necessary.
Japan's currency strengthened to 133.86 a dollar from 134.15 in New York late trading Friday, its biggest gain since Feb. 14. It fell 1.2 percent last week. Against the euro, it climbed to 117.10 from 117.37, snapping a two-day loss.
``The trade surplus should support the yen,'' said Marshall Gittler, head of Asian currency strategy at Bank of America Corp. in Tokyo. |
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| To: StanX Long who wrote (60930) | 2/25/2002 1:55:48 AM | | From: StanX Long | | | | NEC May Post Losses at Telecom-Gear Unit Until Sept. (Update1)
By Minoru Matsutani and Yoshifumi Takemoto
02/24 22:21
quote.bloomberg.com
Tokyo, Feb. 25 (Bloomberg) -- NEC Corp., whose shares are the second-worst performing on the Nikkei 225 stock average this year, said its communications equipment unit may post losses until the end of September as telephone network operators curtail spending.
``It will be difficult to post a profit in the January to March period,'' Mineo Sugiyama, a senior executive vice president at NEC, Japan's largest telecommunications-equipment maker, said in an interview. ``The bottom will be in the second half (the six months ending March 2003).''
NEC counts among its customers companies such as Nippon Telegraph & Telephone Corp., NTT DoCoMo Inc. and AT&T Corp., all of which have a glut of equipment, Sugiyama said. Investors are concerned NEC, whose semiconductor business is already recording losses, will have difficulty returning to profit after projecting a record $2.25 billion loss this fiscal year.
The declining fortunes of the unit means that ``basically, NEC has no core businesses,'' said Hideki Kamiya, who manages 10 billion yen ($75 million) at Asahi Tokyo Investment Trust Management Co., which holds NEC shares. ``Carriers don't have money. I'm not sure whether the telecom-equipment business can be a core business for NEC.''
NEC will have difficulty generating profit in a market where the biggest player, Nortel Networks Corp., has posted losses for eight straight quarters, Kamiya said. |
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| To: StanX Long who wrote (60931) | 2/25/2002 1:57:37 AM | | From: StanX Long | | | | Hynix Creditors Are Preparing Counterproposal to Bid By Micron Technology
bloomberg.com
The creditors of Hynix Semiconductor Inc., the ailing No. 3 computer-memory-chip maker, said they are preparing a counterproposal to a purchase offer from rival Micron Technology Inc., as the two companies try to complete an agreement by the end of this month. |
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| To: StanX Long who wrote (60933) | 2/25/2002 1:59:58 AM | | From: StanX Long | | | | Asian Server Market Shrank 17% With Economy in Fourth Quarter, IDC Says
bloomberg.com
Asia's market for computer servers, which dish up Web pages, declined for the third-straight quarter in the last three months of 2001 after the region's economic slump sapped demand, International Data Corp. |
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| To: StanX Long who wrote (60934) | 2/25/2002 2:03:00 AM | | From: StanX Long | | | | US buying boosts Japanese trade
Monday, 25 February, 2002, 06:09 GMT
news.bbc.co.uk
The Japanese are buying fewer foreign goods
Resurgent US shoppers have provided Japan with a rare break in the dark clouds shrouding its economy, buying more Japanese goods and raising hopes that the export trade may have turned the corner.
Exports from Japan rose faster than any time in the past two years, the Ministry of Finance in Tokyo said, to 188.1bn yen ($1.4bn; £980m) in January.
Although the figure was still down 1.8% from January 2001 by value - and 1.9% by volume - the falls were the smallest since the middle of last year. |
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| To: StanX Long who wrote (60935) | 2/25/2002 2:13:55 AM | | From: StanX Long | | | | Recovery May Leave Consumers Behind
February 24, 2002 4:01:00 PM ET
news.moneycentral.msn.com
By Ellen Freilich
NEW YORK (Reuters) - The recession the U.S. economy experienced last year was a mild one, thanks to the power of the American pocketbook, which allowed consumers to spend even as business profits collapsed.
But as the economy starts to recover and profits at some businesses improve, American workers and consumers may feel a pinch as corporations try to cut down labor costs.
``At every meeting,'' said a product manager at a West Coast bank, ``my boss tells us, 'Everyone worked hard last year and their efforts were appreciated. But remind your people that the company didn't make money, so make sure their expectations (for salary and bonuses) are where they should be.'''
This relationship between corporate profits and Americans' income and spending power means economic growth in the first year of recovery will probably be more subdued than in the first years after previous recessions, economists said.
Goldman Sachs & Co. economist Jan Hatzius said that means 2002 might look like a mirror image of 2001. Last year's strong wage increases crushed corporate profit margins, but helped consumer spending stay strong. This year, margins will probably recover some of their lost ground, but a slowdown in wage growth will weigh on real incomes and consumer spending.
After-tax income is what drives consumer spending, said Dana Johnson, managing director and head of research at Banc One Capital Markets. |
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