On Korean Stocks
I wanted to direct you to an interesting post over at Shai’s blog: “Warren Buffet’s Comments on the Korean Stock Basket”. I had been looking at Korean stocks previously, but did not see a way to own a diversified group of the cheap ones (that would be impossible via ADRs). Also, having spoken to several Koreans, (I should note these were people who chose to immigrate to this country or chose to attend school in this country, so they may be biased), I was not reassured about corruption issues over there. However, I think, with such a wide margin of safety present in each stock purchase, diversification would have been enough to manage the risk of corruption. Anyway, it’s an interesting post because it again emphasis the importance of looking where others aren’t, and because it offers a glimpse of Warren Buffet’s thinking.