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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host
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To: Surfer who wrote (756)7/5/1997 10:05:00 PM
From: Justa Werkenstiff   of 42834
 
Surfer: While I still do not think he will be going to Japan funds as you suggested, after today's show (I listened to the first half so far), I believe that if he replaces the New Asia fund as I suspect, there is a fair chance that it will have some Japan in it.

Tonight he said he was neutral to slightly positive on Japan. I have never heard him say that he was in any way positive on Japan period. This was a big change, in my opinion, and indicates that Japan may be part of a new fund recommendation. Given the context of the conversation and the lack of explanation on BB's part (he was not prompted by the caller to explain), I cannot think of another reason for stating this change the way he did and when he did (when he has previously announced a change in "international exposure") other than to prepare his followers for a fund change that has, perhaps, some exposure or potential exposure to Japan.

In any event, I hope one day BB may tell us why he now feels somewhat more optimistic towards Japan. What has changed in Japan the past few months? Maybe I missed something.

In a 4/22/97 WSJ article, John Templeton made this comment about Japan: "Over half of my client's money was in Japan at one time but no longer. When the bargains were there, we paid an average of only four times that years earnings for stocks. Then they went up 100 times earnings. They're still 50 times earnings. So it is cheaper than it was, but I have not started to buy more. I would buy in Japan at 15 times earnings."

After today's show, perhaps the notion that BB is anything other than a working stiff punching the clock on holiday weekends will be finally put to rest.
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