Barry, do you have any particular Asian CEF's or open-enders
and target prices in mind? (I'm sure you know I can handle
the risk -g-!!!) I may get IFN again on a dip, and maybe
some regional funds like APB or GRR; less interested in
Malaysia & Singapore, and not interested in Indonesia (partly
for political reasons, but also because I think democracy may
make the best economic sense here...) Korea, Taiwan also
seem interesting on dips. May buy back the third of JOF I
flipped at cost a few weeks back, but only well under 5.
Credit rationing seems to be hurting smallcap Japanese firms
severely, and while I agree with Mike Burke that eventually
financial liberalization should be good for smaller, more dynamic
firms, they may hurt bad for awhile first (and the smaller, more
dynamic firms that ultimately benefit may not even exist yet in
Japan). Do you have a good sense of what
are cheap valuations in these markets?
I noticed that a news item about Templeton saying it was a good
time to buy Asia was a good buy signal over the last dip. Didn't
do it, though, since I was already overweighted in that area!
Cheers,
Howard
(I have changed my moniker to afford slightly more privacy, but
regulars can probably guess....) |
