goldsnow,
I own a mining stock and have no intention of selling as of yet; however, 30% over 10 years, kinda lousy returns in my book. Not any better than bank passbook rates with much greater risk. You'd get a better return sticking you money in something like Vanguard 500 Index fund. Makes me wonder what is so great about Warren.
Anyway, I was just commenting on the overkill in the articles at the links you gave me. I remain skeptical of any Western analysis of the Japanese. Because of vast differences in religion, language, history, and customs, the Japanese think very differently than Americans do. Few people take the time learn the language, and even fewer to learn the mindset, yet they are "experts" on Japan and its problems.
I've always said the government would not help out the failing banks. Primarily because it would be political suicide to do so. The ex-Mayor of Tokyo City is ex because he suggested Tokyo Prefecture should foot the bill and bail out the failing banks. With all of the news of scandal, mobster bribes, and political payoffs, the public would not support such a proposal.
Keep an eye on that 127 area, it is a key support level.
For our K-mart shoppers, at current prices Nikko Securities looked cheep enough to me to take a position. Not sure if it is available as an ADR. |
