I placed a limit order yesterday morning to purchase stock in a Japanese financial company. Actually, this would add to an existing position. If the order is filled in the next day or so, you'll read about it here along with CG's rationale for holding the company.
I own stock in several Japanese companies. I may increase our exposure there -- either by increasing existing positions (as I'm trying to do with the financial company mentioned) or establishing new ones as valuations warrant.
Why? Because there are more undervalued companies in Japan than any other single developed market. CG takes the view that, over time, the value in Japanese companies will be realized as the old way of doing things changes and western style corporate governance takes root. If you've been reading the financial press over the past couple of years or so, chances are you've noticed an increasing number of stories about mergers, buyouts and even attempted takeovers in the country.
Of course, between my cash level and other holdings, most of my portfolio assets are outside Japan. I'm content with most of the portfolio's holdings, three of which were mentioned in this site's first posting, but there's still not a lot to do.
CG continues searching and waiting. Thanks for staying tuned.
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