Xerxes Posted January 22 Share Posted January 22 Thanks. Clearly I didn’t remember correctly. just hope the table is back Link to comment Share on other sites More sharing options...
Luca Posted January 27 Share Posted January 27 Anybody an opinion on which one of the japan bets is the highest quality one? Thinking of buying one of them and using IB margin. Currently doing DD into them! Link to comment Share on other sites More sharing options...
Thelilyinvestor Posted January 28 Share Posted January 28 In my opinion, is Itochu. I believe they have more non resource companies, so their cash flows are less cyclical. I am invested since 2020 and quite happy with how management is operating the business. Consistently increasing buybacks and dividends. 1 Link to comment Share on other sites More sharing options...
nwoodman Posted January 28 Share Posted January 28 8 hours ago, Thelilyinvestor said: In my opinion, is Itochu. I believe they have more non resource companies, so their cash flows are less cyclical. I am invested since 2020 and quite happy with how management is operating the business. Consistently increasing buybacks and dividends. Not that there is much in it but 8001.T also runs a slightly higher thru-cycle ROE. Surprisingly resilient during COVID too. All the Sogo Shosha should still provide high single/low double digits. Not that appealing in absolute terms but becomes mildly appealing if you think Japanese rates are likely to stay lower for longer. The old boy nailed this one 1 Link to comment Share on other sites More sharing options...
hasilp89 Posted February 20 Share Posted February 20 Ad from Mitsubishi in todays ft (mentions brk) Link to comment Share on other sites More sharing options...
Xerxes Posted March 11 Share Posted March 11 outstanding Link to comment Share on other sites More sharing options...
dcollon Posted March 11 Share Posted March 11 Interesting discussion. Thanks for posting this Xerxes. Link to comment Share on other sites More sharing options...
Xerxes Posted March 11 Share Posted March 11 1 hour ago, dcollon said: Interesting discussion. Thanks for posting this Xerxes. your welcome ! Link to comment Share on other sites More sharing options...
Xerxes Posted March 13 Share Posted March 13 https://www.bnnbloomberg.ca/stock-investor-with-1-900-gain-breaks-long-silence-in-japan-1.2045946.amp.html Link to comment Share on other sites More sharing options...
bt1 Posted March 19 Share Posted March 19 In this annual letter Buffett had written "Japanese companies calculate outstanding shares in a manner different from the practice in the U.S". Does any one know what is different in the way Japanese companies calculate outstanding share? (Apologies if this was discussed in another thread and I missed that, would be thankful if any points that out so I can search for the same.) Link to comment Share on other sites More sharing options...
LC Posted March 20 Share Posted March 20 https://www.bloomberg.com/news/live-blog/2024-03-19/bank-of-japan-monetary-policy-decision?embedded-checkout=true Link to comment Share on other sites More sharing options...
gfp Posted March 20 Share Posted March 20 16 hours ago, bt1 said: In this annual letter Buffett had written "Japanese companies calculate outstanding shares in a manner different from the practice in the U.S". Does any one know what is different in the way Japanese companies calculate outstanding share? (Apologies if this was discussed in another thread and I missed that, would be thankful if any points that out so I can search for the same.) I don't know for certain, but I believe he is just referring to the practice of Japanese companies reporting their shares outstanding including treasury shares instead of the US practice of reporting shares outstanding net of any treasury shares the company owns but hasn't yet officially "cancelled." To get an accurate share count of a Japanese company by the US GAAP understanding you would want to net out any treasury shares (repurchased shares) if the company wasn't reporting share count both ways. Most of these companies, at least in the English filings, are showing the share count both ways and regularly updating their share repurchase activity by press release. An amusing illustration in the US would be Biglari Holdings which has an official share count (including all GAAP treasury shares the company owns in itself through LP interests) and a GAAP share count that nets out the shares the company owns in itself as treasury shares. It is a big difference in Biglari Holdings' case. Since this is unusual in the US, it causes quite a bit of confusion on what the actual market cap / valuation of the firm is. Link to comment Share on other sites More sharing options...
bt1 Posted March 23 Share Posted March 23 Thanks much for the explanation @gfp Link to comment Share on other sites More sharing options...
Xerxes Posted April 15 Share Posted April 15 Not much detail but better than nothing. Their exposure to resources was kind of interesting Link to comment Share on other sites More sharing options...
yesman182 Posted April 19 Share Posted April 19 More yen bonds being issues. looks like the old man found something to do! https://finance.yahoo.com/news/buffett-berkshire-targets-narrower-spreads-203000948.html Link to comment Share on other sites More sharing options...
John Hjorth Posted April 19 Share Posted April 19 So what are we speculating? Isen't he just buying more 'Sogo Sosha'? Link to comment Share on other sites More sharing options...
yesman182 Posted April 19 Share Posted April 19 I don't know what he will buy, probably more of what he already owns. I doubt he is raising this money, just for the sake of raising the money. Link to comment Share on other sites More sharing options...
John Hjorth Posted April 19 Share Posted April 19 14 minutes ago, yesman182 said: I don't know what he will buy, probably more of what he already owns. I doubt he is raising this money, just for the sake of raising the money. @yesman182, Yeah. As if Mr. Buffett did not already have access to lot of cash and cash equivalents. Link to comment Share on other sites More sharing options...
LC Posted April 19 Share Posted April 19 Buffett is smart. The best time to raise money is when you don't need it. Especially if it costs 1%. That said yeah I agree he is probably buying more Japanese equities. Link to comment Share on other sites More sharing options...
John Hjorth Posted April 19 Share Posted April 19 Yeah, it will certainly be exciting and interesting to see, what he has been up to, over time. Link to comment Share on other sites More sharing options...
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