by Sid
Klein
A
Sampling of Advisory Opinion (Edited by Kathryn M. Welling), Barron’s
– Market Watch, October 12, 1998
“October
5 – The Nikkei is spiralling to its final low in the exact manner described
for literally years in these pages. LTCB
and Fuji Bank shares have virtually disappeared as part of the final death stage
where solvent, domestic based companies trading well below shareholder equity
are dragged down gratuitously. In
June, the DF went 50% long and sold shorter-term calls for more than our long
position’s cost after calls ran up 500%. All the way down since then, my volatility indicators have
remained bearish, as repeatedly reported in these pages.
Last week, I warned that it may be weeks before calls are ready but that
the low could be in place by early October for many of the stocks that should be
bought. If there finally were the
flush out toward 11,000 that I was alone in discussing for so many years (until
this past June), it would be stunningly brief and not affecting all stocks.
Many solvent, liquid, important Japanese companies are now shaping up to
offer 30%-50% gains over the next six months with little risk relative to
quality, price and potential.”