New Zealand just had a pretty big earthquake. a 6.8. up in the north east part of the north island. no deaths were reported, but lots of broken glass and a brief evacuation out of fear of tsunamis that thankfully never materialized.
contrarians are attracted where others are repelled. they are the devil's advocate, the investor who buys the company that everyone else thinks is worthless, the person who moves towards areas that others are leaving.
as an investment practice, the idea is that the underlying business is sound and its value is only temporarily depressed by fear caused by present psychology.
at least theoretically, i am contrarian, so an earthquake in NZ makes me want to move there. i'm just not sure if this particular disaster was a big enough justification.
the idea is that such an event will scare others away from the area leaving greater opportunities open to the contrarians. and i just don't think this news will scare very many people away.
besides, i still don't have my PE. so it is still too early for me to leave the country
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