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Fri, 26 June - Buy the Dips!, page-80

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woomp001

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27/06/20

19:35

Post #: 45491422
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Originally posted by 5speed: ↑

Just a thought/memory...I lived and worked in Japan during the 80's / 90's. I don't recall the specifics, but I do recall that the Japanese Banks were not adhering to, or not conforming to the industry standard of 'How to value your assets' test. They were marking assets to what they paid for them, not to the market/what they would get for them now, if they sold them. Eventually, they had to conform, and their balance sheets went 'Boom'. I don't recall whether that occured before, or after the 87 crash, but I do recall the head of the equity trading department getting a call from the Ministry of Finance (MOF) with instructions to 'buy shares'. That also, was part of the problem back in those days. No Chinese, err, Japanese walls between the regulators and those being regulated... Also, back in those days, the Japanese were their own version of the ugly American... Very loud, and very proud, throwing money in the air...Thing's changed rather quickly.

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That would have been an absolutely wild time to be there!

They were going to take over the world... Money would have been flowing virtually down the streets...

Sounds like you have had an interesting life

XJO Value at posting: 5,904.1
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