Northlake clients have owned a position in Japan via the iShares MSCI Japan Index (EWJ) for over two years. Until yesterday that is. At the open, I sold the entire position. My opinion that Japan is exiting a multi-decade economic and stock market slump has not changed. Rather, with the market having been so strong, […]
Earlier this week, the 1Q06 GDP report in Japan was revised. Several statistics noted in this Bloomberg article article discussing the report support my bull case on Japan. GDP grew by a healthy 3.1% in 1Q06, revised upward from 1.9%. Corporate spending rose at its second fastest rate since 1990. Machinery orders were up almost […]
After raising cash and reducing risk exposure by selling positions in the Central Europe and Russia Fund (CEE), (down a stunning 20% since the sale last Monday morning), reducing some holdings of the Russell 2000 (IWM), and swapping from small and mid caps to large caps, I decided to put a little money back to […]
Shortly after the open Thursday, I completed the purchase of a position in the Japanese stock market across all client accounts. The purchase was completed through the exchange traded fund that tracks the major Japanese market index. The ticker symbol is EWJ. Certain clients had owned Japan previously as part of a group of ETFs […]
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