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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: Michael who wrote (2444)	3/1/1998 6:45:00 AM
From: Tommaso	Read Replies (1) \| Respond to of 9980

I am afraid I just plunged blindly into Korea figuring that Templeton knew what he was doing. But the last time he said anything about Japan, he was pointing out that despite a 70% drop in the Nikkei, P/Es were still huge. Some people argue it's different in Japan. But when Templeton first went into that market there were companies like Hitachi with P/Es like 3-5 instead of 50-75. Like many other people, I find it hard to see how japan will get anywhere unless they use programs such as the US put in after the 1930s depression, and until they make their markets more available to foreign products. They seem stuck in an environment with a lot of overpriced services and commodities. I don't understand it all but whatever they are doing or not doing, it's not working--at least it's not making their stocks worth owning. I keep almost getting into Malaysia--I hesitated one day too long some weeks ago and the market jumped 25% in one day. Like everyone else, I see Indonesia as a terribly risky mess--but there may be smarter people who see opportunity there. I keep worrying that China may suddenly take a new political turn and decide to integrate Hong Kong into the rest of the country, i.e. loot it. But that may well be an ignorant fear. I don't know what to make of China itself. They are making some good products now. I wear them. I think all those countries need to figure some other route to prosperity besides just selling goods to the United States. Or rather, they need to turn loose their best minds to figure it out. That's what makes the U.S. a great country--the decentralization.

To: Michael who wrote (2444)	3/6/1998 7:23:00 PM
From: Stitch	Read Replies (2) \| Respond to of 9980

Michael; My apologies for such a delayed reply. I know the "modern warrior" wouldn't allow business travel to interfere with "connecting" but I have been swordless since my notebook was stolen in Boston a year ago. Many thanks for your inventory of Asian concerns which was concise and complete. I see that Tommasso has offered a very credible reply. I would pretty much mirror what you both observe. I am convinced there are significant opportunities and like many on this thread, I am wading through it all to find a few. I thought SIDBY in Malaysia looked good till Bernie (BT) advised a warning just in the nick of time. I have made two investments in Malaysia, one is down, the other up slightly. I think it is still too soon for bottom feeding. Your list of reasons create a huge bubble of uncertainty. I am slowing down and steering through the fog as best I can. Thanks again for your post. Best, Stitch