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Barron's LINK1 has an interesting take on Japanese stocks.
INTERNATIONAL. JAPAN (EWJ +22% over 12 months) is an exporter and is not in a rush to raise rates even with current inflation at +3%. Companies have become more shareholder-friendly; the TSE has implemented sanctions on companies whose market-caps are below book value. Japanese stocks may be fine so long as the US economy hold up.
BTW, much of Asia is quiet today - China and HK are closed for the Golder WEEK, and India was closed TODAY for Gandhi's birthday.
Long Jap. equity, short yen has been a good combo for a while. DXJ is a simple way to play it, but how much more juice does that trade have? YTD: EWJ = +11.5%, DXJ = +39.9%.
Precious metals have been taken to the cleaners. Strong dollar at least partially to blame. Miners (GDX) were off 3.4% today. Silver’s been leading the way - down 4+% today alone. Spot gold settled at $1829 - near the low end of a multi-year trading range.
Comments
INTERNATIONAL. JAPAN (EWJ +22% over 12 months) is an exporter and is not in a rush to raise rates even with current inflation at +3%. Companies have become more shareholder-friendly; the TSE has implemented sanctions on companies whose market-caps are below book value. Japanese stocks may be fine so long as the US economy hold up.
BTW, much of Asia is quiet today - China and HK are closed for the Golder WEEK, and India was closed TODAY for Gandhi's birthday.