Hello Pezz, Today’s Report:
While perusing incoming mail and updating the data base, I serendipitously discovered that my dear dad-in-law has transferred to my wonderful wife a serious quantity of HK Stock Exchange finance.yahoo.com shares that he had purchased at HKD 12 a few years back. The free shares are now valued at 185/share. Of course, a while back it was valued at even more. I think it is a good hold, LT, because it is free, and there are supposedly hundreds of millions of speculators north of me wishing to buy the mispriced Hong Kong H shares and arbitrage the embedded profit of Shanghai A shares.
Thus feeling newly flush, I transferred CAD to Tokyo and took up positions in the following Japanese real estate plays (they for the most part are available in USA as foreign shares) because I need to hedge against global monetary collapse with dividend paying Japanese Yen denominated assets:
Creed Office (8983) stocks.us.reuters.com @ Yen 388,000 (USD @ today’s exchange rate 107.765 => USD 3,600) per share
Nippon Building Fund (8951) stocks.us.reuters.com @ Yen 1,410,000 (USD 13,084) per share
Japan Real Estate Investment (8952) stocks.us.reuters.com @ Yen 1,270,000 (USD 11,785) per share
Global One Real Estate (8958) stocks.us.reuters.com @ Yen 1,210,000 (USD 11,228) per share
Nomura REIT (8959) stocks.us.reuters.com @ Yen 904,000 (USD 8,389) per share
These beasts are yielding between 3 and 9%, in all cases paying more than Japanese deposit rate;
The Yen currency ought to rise, Tokyo rent ought to increase, underlying land and building replacement cost should increase, but share price might droop some more.
I am ready to … dare I say it? … average down.
I am doing so to hedge against the risk of Mr and Ms Watanabe losing faith in carry trade, pull their wounded capital back through a then too small forex window, drive up Yen to 95, or 85, or 79.5 to the dollar, trash global assets and reprice the planet.
Chugs, TJ |
