Dr. HansBlack of Interinvest WN Archives

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INTERINVEST CONSULTING CORPORATION OF CANADA LTD.

Dr. Hans Black Interinvest

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Monday Jun 23, 2003 Archives

Love of Music
25 Apr 2008 Transcript of Dr. Hans Black on PBS Wed889 Dovas

DTN photo click for slide show #1 | show #2 | 2002 Night | Misical Slides

Ruth Ann Swenson
'bio

Monday Jun 23, 2003 w-n

In the kitchen of her home, Joanne Hollander, founder and president of SoYummi Foods, shows where it all started and the things she used to produce her snack-dessert mousse made with organic soy beans.
A spoonful of ambition In the kitchen of her home, Joanne Hollander, founder and president of SoYummi Foods, shows where it all started and the things she used to produce her snack-dessert mousse made with organic soy beans.RICHARD ARLESS JR., GAZETTEIngredients for a successful business: a dash of angel money from a friend; a healthy lump of learning from your mistakes and a full cup of tenacity.
Opera Night 2002 click pan
Thank you Hans Black for a night with Bryn Terfel an outstanding Welshman, slide show Bryn Terfel did sing at the Salle Wilfrid-Pelletier. {He is a world class bass/baritone and a fun person on & off the stage DTN].
Misical Slide Show 2002 of a grand party

A slide Show on Dinner Guests
Susan Eyton-Jones sings [Download Players]

Robert McTeer

May 30, 2002 Productivity and Living Standards: Convergence or Divergence?
Round Table discussions with Serge Coulombe, University of Ottawa; Andrei Sulzenko, Industry Canada; Gordon Thiessen, Former Governor of the Bank of Canada; Paul-Arthur Huot, Quebec Manufacturers & Exporters; and the moderator: Dr. Hans Black, Interinvest Corporation.
Associations
East-West Center
L'institut de cardiologie de Montréal - Montreal Heart Institute
L'Opéra de Montréal
The Paul H. Nitze School of Advanced International Studies
Sponsorship
The Bermuda International Film Festival

Friday 6 April 2001 Rally doesn't mean bull is back
By DON MACDONALD
Montreal money-manager Hans Black, chairman of Interinvest Consulting Corp., says his firm has been in the market in recent weeks, buying some high-quality stocks at bargain-basement prices, including names in the technology sector and in Japan.
Black, whose firm manages over $1 billion U.S. in client assets around the world, is cautiously upbeat about the outlook for the market over the next six to nine months. But he is by no means ready to declare either the birth of a new bull market or that we've hit the bottom in North American stocks.
"There are some good stocks that we think are way oversold," he said. "But if people are going to try to buy shares of Yahoo! at $13 hoping they're going to go back to $260, forget it. We think there's a lot of air that's come out of the balloon that's never going to go back in."
Black made a couple of useful observations about bear markets. He noted, for example, that the horrendous 11-year-old bear market in Japanese stocks has been punctuated by several powerful rallies, including one in 1999 that saw the Nikkei index go all the way up to almost 21,000 before falling to yet another new low last month of 11,800.
And he noted individual stocks and sectors can do well even in such a dire scenario. Shares of Toyota, for example, have tripled since bottoming in 1992. Black said his firm became extremely wary of stock valuations a year or so ago when tech stocks were reaching the dizzy apex of their bull market.
"So we were high cash and we are (now) employing some of those reserves," he said. "Nobody knows where the bottom is. Nobody is that smart. We just say: Are there some good values out there? ... We think there are. Twelve, 13, 14 months ago, we thought we were in an environment of tremendous foolishness."

9 June 2000 Bargain-hunting in today's stock market can be dicey, but Friday's Market Monitor sheds some light on where investors should look.
Dr. Hans Black, chairman of the global money management firm Interinvest, says there are blue chip bargains out there.

Some Wednesday-Nights with Hans

Wednesday-Night 951 Radio

List of Essays since 1998 and Nightly Business Report Transcript
Oct. 14, 2001 Currency Market Outlook by Dr. Hans Black

Annie Richer

#951 May 24, 2000 Annie Richer, from Radio Canada. China and the W.T.O. and MicroGates Robert Russel & Jean Townsend .. Lucienne Kroha MICROSOFT Warren Allmand break-ups maintain competition Guy Stanley, Gerald Ratzer & DTN = very bad. Stock market concern Chil Heward ..CHINA AND THE WTO Tony Deutsch, to sabbatical Jacques Clément Cda good John Ciaccia, Peter F. Trent, & Germain Bourgeois, Misha Crnobrnja, Dr. Hans Black agreeed with Julius Grey, Dr. Lucy Kroha Margaret Lefebvre, Harry Mayerovitch see also [abc]
get latest News from China

AGS

#944 5 Apr 2000 Applied Gaming Solutions of Cda (AGS) on-line gambling - with Spence Bozak intro Mike Judson Voluntary Tax ..Morality? ..Japan new Prime Minister Keizo Obuchi & Dr. Hans Black?

Robert Rabinovitch
20 Jan 2000 num933 Venezuelan disaster René Armas 95% against Manley hockey game. ..Net, Dr. Hans Black, Seattle and demonstration at Davos World Economic Forum on 27th How to manage globalization? ..Canadian economy Great! ..oil prices up .. C.R.T.C. unfair demands on C.B.C ..here Rex Murphy Cross Country Checkup
867 Oct 1998 with Hans Black.

Davos night #832 Feb 11th. with Pierre Arbour & Hans Black.
by Herbert Bercovitz

Hans & Ruth Ann Swenson
'bio

Asia May 13 by Michael Judson & Herb Bercovitz
Edited by Diana Thébaud Nicholson

World Economic Forum: Report from Davos, Switzerland
Dec 1996 A word of caution

Real Estate

Dr Hans Black

February 24, 1999 Hans Black mentioned that real estate prices have firmed, recently bringing several major U.S. investments including Goldman Sachs and a large Boston-based investor.
Japan
Citing views heard at Davos, Hans Black solicits John Wright's views on Japan. John made the point that the Ministry of Finance is not as powerful as formerly and that there is no longer the close-knit alliance between the governing party, the Bank of Japan and the Ministry of Finance.
A double-dip recession is a real danger.
The direct intervention by the Bank of Japan in the bond market is significant. Their objective is to sustain a controlled weakening of the yen. The comfort zone is 110-120. The Japanese government does not need economic growth because there is no population growth; companies provide the social security that Western governments underwrite. An older population (which has a high savings rate) accepts a lower standard of living "for the good of Japan", however, the younger generation is less accepting, less disciplined and less dedicated to the work ethic.
How advanced is the banking restructuring? They have been addressing the problems since '97, bringing in tougher regulations. But, the problems are enormous and extend to insurance companies. It would probably have been best to have nationalized, cleaned up and "spat out" these entities three years later!
The recent easing of the yen did not help. The Japanese are terrified of hyper inflation. There will probably be a decline this year followed by positive figues next year (0.5-0.8%).
Where does this leave China?
The trouble with analysis of China is that the figures are unreliable. Growth is NOT 8-9%, it is more likely 2-3%. GNP figures are suspect; it is likely that the heartland is not included. Example: the figures for electricity production at 2.8% is not a sign of great activity. Bureaucrats will tell you what their bosses would like to hear; it is the old Soviet-style reporting system.
Long-term problems include over-production of steel and limited infrastructures for shipping it to markets - if there are any.
China has a comfortable surplus, devaluation will not turn around their economy. It is an economy of enormous contrasts between the thriving market economies of Hong Kong, Shanghai and the 3rd world existence throughout the interior.
What is the impact of the lower yen on Far East industrial markets?
Korea, Taiwan may be concerned by the competitivity of Japanese steel, but the Japanese have always been more productive than the Koreans. Some multinationals may close foreign operations (e.g. Thailand).
It was practically impossible for Japanese companies to lay off workers unless the company was bankrupt. This has been changing during the past year, as long as companies are treating workers "fairly and reasonably", and rather than layoff, companies have shifted workers to subsidiaries. The unemployment rate is only 4.4%.
Another guest suggests that companies have been quietly laying off for 5-10 years but because of the culture and the question of "face", these layoffs have not shown up in unemployment statistics. ="http://www.Wednesday-Night.com/chart/T-CC.htm">Chart the $ It is down to 66 cents from the recent high of 69 cents because of low commodity prices and also the perception that the Bank of Canada may ease rates.
The Debt/GDP ratio of 67% is major concern. So far we have pad back $20 Billion and the debt now stands at $570 B, but by year-end it will be $580 B.

Diana Nicholson

Edited by Diana Thébaud Nicholson

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