Mike, a bit more on Japan.
Right now, I own 3 International Value Funds. These funds are all concentrated, best idea funds, so their exposure to Japan at the moment is minimal, if not non-existent. However, I've been visiting a Japanese web-site called nikkei.net. It's a subscriber site, but I peruse it in order to get a feel for the market and economic sentiment, which is very gloomy indeed.
Today's articles contained one about the fact that house-hold spending in Japan is now down for the 8th consecutive year. Another expressed doubt that the recent discount rate cut (from 0.50% to 0.35% -- these numbers are correct) would help boost the economy. But, a less opinion-oriented piece said that, although a previous quarter GDP trend was revised down, it is believed that the latest quarter will actually show GDP growth.
So, once again, your timing looks good, MB. Everyone should keep Japan on his radar screen. I think the chances of an extra kick from the currencies are also excellent. |
