What are you buying today?

[Libs]

On 10/21/2024 at 10:04 AM, gfp said:

 

Back from Japan finally and going to close out this TLT short since it was always just a seasonal pattern trade.  I suppose Trump win odds going up could push long yields up some more but I'm out.  The trade worked out as expected

Well done GFP.

[Spekulatius]

6723.T/ Renesas, Japanese semiconductor company that is producing decent numbers now. They were reduced by Japan Inc and most of those have or are selling their appreciated stake now.

 

I think the best may still be to come if they continue to execute. They are in god markets (microprocessor units, automotive, embedded processing) and their business model is relatively capital light. This is not your typical Japanese co any more, they very much seems like they’d follow  more and US style model.

 

I believe the market is concerned about the relatively expensive Altium acquisition.

 https://www.renesas.com/en/about/investor-relations/event/presentation#analyst_day

 

Unless the wheels come off, the stock is cheap (10x 2023 earnings). Earnings will go down this year though.

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