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Strategies & Market Trends : Gorilla and King Portfolio Candidates
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To: DlphcOracl who wrote (1988)5/15/1999 10:34:00 PM
From: Mike Buckley  Read Replies (2) of 54805
 
MORE SOMEWAHT OFF-TOPIC, PART TWO

Then, James Grant, the perpetual bear who has been shouting for the past six years that the "overvalued" U.S.stock market will collapse, opines that smart money should now be invested in Japan because of its "compelling valuation".

Ever since the Japanese stock market tanked 30% he's been calling it a compelling valuation. He said that as it fell all the way down to to a 60% loss and he's still saying it.

The guy lives in the greatest wealth-producing country the world has consistently seen in the last 100 years and he places his bets on a country on the other side of the planet whose culture is completely foreign to him, whose breadth of internally produced resources is extremely limited, whose financial system is openly corrupt and built on a boom/bust scenario, and whose economy (being the largest of the Asian economies) can cause serious damage to the rest of the world when things go wrong.

It's unbelievable how people like James Grant can make investing so darned difficult out of something that is so profoundly simple. Too bad people actually listen to him. And the most amazing thing is that we can see James Grant practically every week on the boob tube when, instead, we're being deprived of watching the LindyBill and Uncle Frank Show.

--Mike Buckley
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