Hello Pezz, Night Report:
I just bought into India, after having just exited Pakistan, but still sticking around Argentina, and not yet freed from Zimbabwe:
(a) A dollop of HDFC Bank (HDB) uk.finance.yahoo.com at USD 16.80 and better
(b) A dollop of ICICI Bank (IBN) uk.finance.yahoo.com at USD 6.63 and better
... because I was informed that "1 year treasury rates in India have dropped from 11% to 5% in the past 3 years.
The currency is appreciating and the Central Bank is fighting like mad to keep it from further appreciation.
The stock market hasn't moved for 3-5 years. Valuations are in the 7-15 p-e range for the most part. 11% Nominal GDP growth for this year. I smell a nice bull market a la early 90's in Southeast Asia."
... and so I figure it is time to rush in, buy, pile on, hard buy, burn and loot, buy again, and abscond before the cleaning crew shows up, even though there are political problems, geopolitical issues, walls of worry, slopes of hope, abyss of doom, peak of mania, and other distractions.
Chugs, Jay |
