Breakingviews TV: Buffett-san

by birtanpublished on September 2, 2020

Warren buffett is going big in japan the question is why america's most famous investor and the chairman of berkshire hathaway said on monday that he's bought stakes in japan's top five trading houses itachi

Marubeni mitsubishi mitsui and sumitomo this is a big deal for two reasons first because wherever buffett goes a herd of smaller investors tends to follow mitsubishi and mitsubishi stock were up over seven percent on monday and

Marubeni was up more than nine percent second buffett is known as being a cheerleader for the american economy so when he starts buying steaks in japan that sends a fairly clear signal now berkshire hathaway is huge and these

Stakes by comparison are pretty small they're worth in total about six billion dollars whereas berkshire's market capitalization is around half a trillion also buffett has funded these investments with yen

That he borrowed incredibly cheaply thanks to japan's rock bottom interest rates the mystery is why he thinks this is such a good investment japan's prime minister shinzo abe is retiring

The country faces a huge debt pile and an ageing population it's an uncertain economic prospect four of these five trading houses have underperformed the japanese stock market over the last decade

Meanwhile buffett has other problems because berkshire hathaway itself has also underperformed the s p 500 index over the past decade and it's not clear how these latest investments

Are going to help a value trap is a value trap wherever in the world you find it

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