One of the cheapest markets we've come across is Korea, Kerr Neilson of Platinum said in an interview with the AFR

Livewire Equities

One of the cheapest markets we've come across is Korea, Kerr Neilson of Platinum said in an interview with the AFR. (They've) run a current account surplus since the IMF intervened in the late 1990s which is now running at 7 per cent of GDP, so there's a lot of wealth accruing. Why the market there is trading at eight times earnings is a bewilderment to me. Neilson says China is (also) interesting. It's not going to grow at the rates people used to assume were essential, but probably more like around 6 per cent. On Japan, Neilson says, what we're hearing is that there is a complete change in the mentality of the typical Japanese consumer. Spending on consumer durables is up hugely, and people are back in the shops - clothes purchases are up 10 per cent or more on a year ago. (VIEW LINK)


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