South Korea has tons of potential but there are risks. Do you have an opinion about the % of market decline attributed to North Korea vs. business risk? I would guess that the majority is geopolitical but that is far from an educated guess.

Regarding the regulatory changes, do you think Japan should be watching this as they too have many “family” conglomerates? The reform will be to the detriment of equity prices in the short term, but “maybe” to the benefit of everyone in the long term.

It is still rather difficult, without the use of ADR’s, to trade in other markets outside the US.  But the good news is that there are ample ADR’s and funds linked to foreign index levels.  So investing overseas is, for the most part, relatively easy.  However, it is not without risk.  There are all of the obvious risks in any equity but international equities add the risks of currency and country. 

The currency surely is playing a role in the investors decision making. If Brazil could reduce their interest rates I am sure they would but if investors aren’t interested in 41% interest, why would they be interested in less than that?

 If the government stumbles, default is inevitable.