Monday, October 29, 2007
Buffett keen on South Korean market
Warren Buffet thinks that the Korean stock market is still undervalued. Should you take a look at EWY? Just a cursory look at the ETF shows that it's selling at about 13x earnings, 1.7x book, and 0.8x sales. and 6x cash flow. The won has appreciated significantly against the dollar. There might be a case here, but I must admit that I don't know enough about the Korean market to give the proper context to these numbers.