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Strategies & Market Trends : Value Investing

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To: Spekulatius who wrote (29354)	12/26/2007 8:56:09 PM
From: Spekulatius	Read Replies (2) of 78715

I am looking for values in Japan. I recently purchased some Ricoh (RICOY.OB) and also started a position in Canon (CAJ). Furthermore I am looking into the conglomerates Itochu and Sumitomo (ITOCY SSUMY) which seem to have the lowest PE from the bunch (which would also include Mitsui and Mitsubishi). Those trading houses have really remade themselves in the last 5-6 years ,IMO. They used to be control companies more so than profit oriented but that appears to have changed, the removed a lot of deadwood, restructured and improved their balance sheet. Now their services which include pretty much everything the growing economies in Asia need (Mining, Energy, oil, financing, infrastructures, heavy machinery) are in demand and profits are gushing. As far as i can see those stocks are still fairly inexpensive, the PE range from about 9-13. The stocks have surged during the last few days while I was researching them (I hate it when that happens) so I am waiting for a pullback. i think they are all buys but i like ITOCHU and Sumitomo the most right now because of valuation.

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