Roughstuff's Korean War Archive
INVEST in one of Asia's most dynamic markets
Leave Vertigo to Alfred Hitchcock, I guess!
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Now listen folks when I give a bum call investment wise i let ya know. I swore a few months ago that the KOSPI was looking tired as it approached its May 2006 highs. It wasn't tired at all, and has since blasted to the top of a channel connecting a parallel line thru the correction lows of the last few years. The ability of the chinese and world markets to shake off their wobbles earlier in the year has helped immensely. But the Korea market is now fully valued by historical standards, and again I caution it is best left to aggressive buyers only. We would not be buyers at these levels....the low 50s appear to be the point where we would start nibbling again. And yet, were the market to sell off to those levels, the situation would be so different from the prevailing economic and political euphoria on the peninsula, that we doubt we'd maintain our nibbling for very long. In general, given rising interest rates around the world, markets are facing pretty substantial headwinds. We do not advocate selling a position you already have until the current favorable trends are clearly broken. But Korea is not the bargain it was several years ago, when undue paranoia about its Northern neighbor (and reunification costs) spooked investors.
June 26, 2007
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