tag:blogger.com,1999:blog-18079728.post7906778796704657373..comments2023-11-02T07:30:03.967-07:00Comments on Cassandra Does Tokyo: GET ME OUTTA HERE......!!!"Cassandra"http://www.blogger.com/profile/17412381249313151515noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-18079728.post-31629984177676312132008-01-23T05:37:00.000-08:002008-01-23T05:37:00.000-08:00Now things are getting hairy ... the eyn is rallyi...Now things are getting hairy ... the eyn is rallying towards its all time high despite a emergency 75bp cut by the US Fed. Are we going to see more yen repatriation that will continue to feed the buying of yen from the shorts?<BR/><BR/>We should soon be hearing BOJ talk their books (ie., yen too strong) soon at this rate we keep going.<BR/><BR/>festerpigAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18079728.post-16365466995923959422008-01-16T18:51:00.000-08:002008-01-16T18:51:00.000-08:00CassPerhaps I should've used the moniker "Value In...Cass<BR/><BR/>Perhaps I should've used the moniker "Value Investor", and as such am prepared to tolerate short-term pain for long-term gain, as well as having the liquidity to weather a market Katrina. <BR/><BR/>I agree with you on most points, just take a less apocalyptic view. Don't kill yourself laughing on this, but my outlook for some time has been that the next upward movement in J stocks Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18079728.post-39472334814645061892008-01-16T16:42:00.000-08:002008-01-16T16:42:00.000-08:00Anon PI - Earnings and sales have risen dramatical...Anon PI - Earnings and sales have risen dramatically since the nadir, with 08 & 09 estimates barely deprecated, but prices absolutely slaughtered in sections of the market. This hasmade price to prospective earns hugely attractive both absolutely and in an historical context. <BR/><BR/>BUT....before one gets too excited, the market is more often than not ahead of the sparse estimate information, "Cassandra"https://www.blogger.com/profile/17412381249313151515noreply@blogger.comtag:blogger.com,1999:blog-18079728.post-19172609159873550152008-01-16T16:00:00.000-08:002008-01-16T16:00:00.000-08:00Yesterday I increased my holding in a small cap. w...Yesterday I increased my holding in a small cap. which I originally bought at the nadirs of 2002/3. Stripping the net cash position out of the share price gives a business valued at ¥200~300 per share. Earnings are around ¥30 with an implied yield on the business of 10~15%, a much better deal than 2002/3. Most of my holdings, large and small cap., are showing similar valuations, an indicator of Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18079728.post-22336799304877198942008-01-16T12:41:00.000-08:002008-01-16T12:41:00.000-08:00anon - lots of stuff is getting hammered, but the ...anon - lots of stuff is getting hammered, but the relative price movements within the puke, while subtle, are sufficiently visible to suggest (in addition to Yen-strength & recession-selling fears) an unwind of a large book with systematic characteristics. I see the ripples in attribution tools and factor returns that mimic many of these strategies and their precursors."Cassandra"https://www.blogger.com/profile/17412381249313151515noreply@blogger.comtag:blogger.com,1999:blog-18079728.post-7618324561999653962008-01-16T12:07:00.000-08:002008-01-16T12:07:00.000-08:00Margin interest is historically high in US, and ba...Margin interest is historically high in US, and banks are providers through brokers. Margin calls? Like calling loans on sub-prime, not a bad idea, where sub-prime includes non-performing assets in Japan.Anonymousnoreply@blogger.com