Nomura Holdings, Inc. (ADR)
The Bank of Japan has embarked on a new stimulus program similar to that of the U.S. Federal Reserve and the European Central Bank. If you partake of the Keynesian Cool-Aid, you doubtless think this is a "good thing", whereas if you are a right thinking Austrian, you are shaking your head as yet another quasi-governmental agency makes a vain attempt to fix a real economy by printing fake more »
At a glance, Japan appears to be a mess.
With GDP contracting at a 3.5% clip last quarter – and the previous quarter’s small growth revised to a small contraction – the country is officially in recession. The current quarter is expected to see GDP fall even further.
A trade spat with China has hurt the economy. Poor economic growth around the world has hurt exports. The country’s debt-to-GDP more »
Investment banks are not for the faint of heart -- their operations are complex and accounting rules are quite soft on disclosure requirements, so it’s hard for investors to get a good understanding of a company's risk exposure in the sector. Besides, government regulation is a permanent source of uncertainty for these companies all over the world.
The collapse of many big players in the industry during 2008/2009 more »