Ignore the P/E reading in previous message. Btw, I haven't posted in some time in ET and find the new 10min change policy very problematic. I often came back to correct a typo or rephrase/clear things.
You traded on that? How about my oil and gold calls... (Oil recommended at $59, sold at $66. 10% unleveraged profit.) I'm often wrong, so don't just trade on one of my predictions :-I.
Ha. No, was simply putting a number to your call. You managed to call the low tick of the move, unfortunately. I found this thread a few minutes before posting. Your posts are fascinating.
Bloomberg lied. Bloomberg has a lot of bad data. I don't know what the real number is, but Yahoo gives a PE for EWJ of 19.58. Granted, Yahoo isn't the most reliable for data either, and EWJ is not the same as the Nikkei. But, EWJ only has 29 more stocks than the Nikkei and the two pretty much trade in lock-step. 19.58 seems much more reasonable.
Morgan Stanley's Roach on Japan "Investors tell me that Japan is on fire. And on the surface, it certainly seems white hot -- a stock market that is up some 50% since the spring of 2005 and an economy that our Japan team believes surged by at least a 7% annual rate in the final quarter of calendar year 2005. If that Chinese-style growth outcome comes to pass, Japan would instantly qualify as the fastest growing economy in the industrial world -- an extraordinary reawakening for Asiaâs long-slumbering giant. The global implications of this development cannot be minimized: Can the worldâs second-largest economy lead the way in the rebalancing of a still unbalanced global economy?" New positioning: "fastest growing economy in the industrial world" i.e this is a GROWTH story now, not a recovery one, and of course that will mean it's no longer a seperate asset class
Wall St= TOTAL BS. A few months back, they were spreading stuff about Chinese Shanghai index going to 700 points, when it was 1000-1100. Now it's at 1280. Uh huh F Wall St "experts"
don't care about Live door. Tokyo market still bullish. You know March is the end of fiscal year for most Japaense companies. maybe up-and-down for a while. However I am sure 2006 is still bullish.