RE: Blood running in the streets.........
This portfolio mgmt. buy sign was coined by the aged Sir John Templeton, who unfortunately seems to be 'slowing down'. Back in Feb., Sir John said that he was buying Nikkei stocks because 'blood is running in the streets' so to speak. Well, the Nikkei is a good 15% lower and looks to fall even further. Also, blood literally did run in the streets of Jakarta yet again you would be on the negative side had you bought at that point. Those port. mgrs. are LT investors who see little downside potential and much upside potential in taiwan and korea, and I'm sure if SK Telecom is still around it 5 years it should be quite higher. However, when something is in such a vicious downtrend it has always made little sense to me to buy at any such point. I wouldn't touch that stuff until a stock chart showed significant new life in these stocks.... I'd rather jump onboard a future winner a little late rather then be way too early.
Also, Taiwan is finally showing poor export growth and Singapore has all sorts of problems to deal with because of enemy Malaysia, so those 2 still have the worst ahead of them, I believe. On the other hand, Korea will rebound before any other regional market will, simply because they have closed down dying banks instead of putting them on respirators (like Japan). This action will re-attract foreign capital to Korea before other regional countries. |
