Mostly original content that examines financial surreality in equity markets in general, and the Japanese Stock Market in particular.
I am most sympathetic to the underlying view in your post. I enjoyed it almost as much as the imagined letter from FANUC, which was overtaken by events with amusing rapidity. So, let us hope this letter is less a hostage to fortune than was the last!
As the FANUC letter was an expression the Co.s honne, one might call the timing was impeccable: the honne of what they were thinking juxtaposed to their official tatemae reply at which Japanese firms are so adept. Financially-interested parties would, however, be wise to temper any tinge of triumphalism. For the more observers and journos publicly interpret and declare mgmt statements a victory for Loeb, the more inclined FANUC mgmt will be to continue their prevailing SOP.
Sympathetic as I am to the stresses an activist carnivore can apply to a balance sheet, I believe the situation is far more dire in the United States.There is one particular Hayseed from Texas that thinks it gainful to challenge biotech company patents in court whilst shorting the common.
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