Good article on Japanese equities, with a focus on Shimachu (8184:JP) from Value Institute
Many value investors are debating the merits and drawbacks of investing in Japan. On the positive side, Japanese stock valuations are a fraction of their Asian / Western peers – the result of a 20 year bear market. On the negative side, Japan’s unusual corporate governance culture means business ‘owners’ are less likely to fully realise a company’s intrinsic value. Retailer Shimachu shows the headwinds facing a value investor looking for Japanese bargains.
Michael Gelband’s Exodus Point launched in 2018 with $8.5 billion in assets. Expectations were high that the former Millennium Management executive would be able to take the skills he had learned at Izzy Englander’s hedge fund and replicate its performance, after a decade of running its fixed income business. The fund looks to be proving Read More