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Strategies & Market Trends : JAPAN-Nikkei-Time to go back up? -- Ignore unavailable to you. Want to Upgrade?

To: borb who wrote (3110)	8/9/2002 7:47:45 PM
From: Crossy	Read Replies (2) \| Respond to of 3902

Borb, I don't concur with this view. Production ticked up remarkably in Japan. The central bank is stemming like hell (record intervention) against Yen appreciation. Jap. Government is keeping a low profile to prevent the currency from climbing too fast. There were some interesting developments going on in Japan over the last couple of years. It looks like the corporate system governance is becoming more open and less spider-web-like (keiretsu way). Even boardroom struggles and hostile takeovers are taking place. And some changes (like company wide pension accounting) and reciprocal unwinding of cross shareholding have hit the market in addition to economy induced endogenous shocks that unfolded in the 2nd half of the 90ies (AFC, 90recession, bad loans etc.). The consequence was a brutal restructuring to regain efficiency. On a micro (firm) level you can see the fruits of this labour unfolding in coming years. All the japanese firms I invested in are about to more than increase their earnings 50% or more or complete a turnaround this year. In fact most of my Japanese positions are almost where I bought them or even better. And I expect the Japanese market to do rather well, even more when the US impact is also more favourable.... And sorry for your last posting to me on CAGR - I didn't understand what you meant by your question rgrds CROSSY