Why I Have Zero Exposure to Japanese Equities

by: Roger Nusbaum

Roger Nusbaum (wish list) submits: I have no exposure to Japan. During the last 15 years of economic misery there have been short bursts of good stock market returns, and commentary saying "this time is different" always accompanies those bursts.

Maybe this time is different, I don't know. What I do know is that Japan imports 100% of its oil. If the yen goes up vs the dollar that will hurt Japan. There are also a lot of the same systemic problems that have plagued the country. I choose to avoid what I perceive are obvious headwinds but I fully acknowledge that the stock market could now be the place to be as some, like Hugh Hendry whom I think is a smart guy, say.


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