bullish
The Cheap Japanese Basket: Year-End Portfolio Review and Reasons Why I Remain Bullish
SUMMARY
- I initially began my cheap Japanese basket in March 2023 and now that 2023 has come to an end, let’s take a look at how everything worked out.
- But first, a quick summary of the themes in my basket and why I’m broadly still bullish on deep value Japan.
- Within my basket of cheap Japanese companies, there are 3 broad themes: higher quality businesses with better RoEs and P/TBV closer to 0.7x, dirt cheap deep value net nets with P/TBV of 0.2-0.4x, and deeply discounted companies with underappreciated land assets
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