Job Discussion Forums

[spamghod]

I'm currently living in Korea but I've been in Asia since 1995. I went thru the 1997 crash and see one coming really soon. I�ve been expecting it for several years and have been preparing by buying gold and silver. I have a nice nest egg waiting for me back in the USA.

IMHO, the crash will be worse this time, because the USA won't be in a position to buy much from Asia. Those countries that are dependant on exporting to the USA will be especially hit hard. Many patterns are appearing this time just like in 1997, before the crash.

As I see it, from reading as much as I can on the situation, what we�ll see as a result of the coming crash is much more regionalism. In the case of northern Asia, after 2-3 years, the 1.5 billion+ population of Japan, China and Korea are large enough to start and support internal consumption, rather than exporting to the USA. Of course, Japan and China will be the economic engines of this change.

To get to the point, I�ve seen the last crash. And also saw some people who knew what they were doing invest when the market was down, and made out very well when the economy came back 1 1/2-2 years later. As I�ve said, I have a nice nest egg to fall back on, so I�m willing to put most of what I make into some cherry picked Asian stocks. My plan is to stay in Asia at least 3 more years, and invest most of my income in the market. What I don�t know is a good Asian stockbroker as I�ve never played the market much except for a few gold futures on the Chicago market.

So my question is, if I don�t want to go thru an American stock broker, can you tell me of a good, reliable Asian that won�t rip me off? I remember some Korean friends telling me of their stock broker selling all their assets (without their permission) to put in a �hot stock� that crashed and lost their money. I definitely don�t� want that crap to happen.

Any recommendations?

[gajackson1]

Hmmm - I can understand why you would post this in the GAF instead of the Korean-side boards - you want a trustworthy broker outside of Korea. Fair enough.

Sorry to say as I can't help with a recc. However, having also been in Korea for 11 years (I came in during the first part of the crash/bailout), I CAN safely say that there are active survivors on the K-boards who love this topic, and are also preparing now.

If you haven't already, I would suggest cut&pasting the topic there & doing some keyword searches for some of the posters there that comment on / are knowledgeable about the finance part.

As odd as it sounds, possibly a Islamic/Halal bank may be the way to go??? I think money/investments in one may just weather out whatever else is happening. Just a thought; you'd have to find out specifics elsewhere.

Glen

[englishmaster]

There is the American firm Europacific Capital (www.europac.net), which specializes in helping Americans find good offshore investments. It is also a broker for Perth Mint in Australia, which offers a good deal on gold.

I don't know any terrific Asian brokers offhand, but I think you might find links to some on the Asia Sentinel's website (can't remember it, sorry).

There's definitely a bad moon rising in the US, what with the mortgage fiasco and all. We've been able to pull ourselves out of recessions, etc., before, but this time it might be the big one.

We'll see ....