Japan, every mention
48 scenes (2024) · ← back to Japan
tap a year for its mentions
every year 2024 anyone Ted Seides 142Toby Rodes 69David Wong 33Howard Smith 29James Aitken 19Herb Wagner 16Hiro Mizuno 13Jeremy Grantham 12David Baran 10Kazuhiko Shibata 9
Verbatim, from the transcripts: the passages where Japan comes up
Eric Peters - Paradigm Shifts and Solutions at One River (EP.422)
- ▶ 41:28 Eric Peters And something happens in Japan and some weird monetary policy thing happens and a few people get stopped out and you come in and a really big market gap down that didn't allow people out.
Matt Bank - "GEMs" of Risk, Asset Allocation, and Manager Selection (EP.419)
Scott Bessent - Macro Maven (EP.415)
- ▶ 30:57 Scott Bessent It could be someone in Japan.
- ▶ 42:03 Scott Bessent You know, I remember one of our consultants telling me, you know, there's this guy in Tokyo, used to be prime minister, his name's Abe, he's gonna run for office and break Japan out of disinflation.
- ▶ 57:07 Scott Bessent Japan. 2 times in the scene
David Salem - Investment Wisdom from the Owner's Box (EP.409)
- ▶ 5:27 Ted Seides We then turn to David's views on China, Japan, private equity, and digital assets.
- ▶ 38:04 David Salem And there's an opposite side of that coin now, the opportunities in Japan.
- ▶ 41:10 Ted Seides I'd love to dive in a little more on your thoughts on China and Japan. 10 times in the scene
- ▶ 58:17 David Salem Well, I think because I believe that many corners of it, with very conspicuous exceptions like Japan, we have excess financialization, certainly in the United States, and an overpopulation of the industry.
Toby Rodes - Unlocking Value in Japan (EP.407)
- ▶ 4:37 Ted Seides Our conversation covers the case for Japan and why this time is different. 2 times in the scene
- ▶ 6:17 Ted Seides Why don't you take me back to what got you interested in Japan? 8 times in the scene
- ▶ 8:06 Toby Rodes My first boss was a visiting scholar from Japan, Jiro Tamura from Keo University. 8 times in the scene
- ▶ 9:55 Toby Rodes Japan seems immediately familiar when you touch ground. 8 times in the scene
- ▶ 12:08 Toby Rodes I realized how markets were organized in Japan so you could figure out who the winners were going to be. 7 times in the scene
- ▶ 14:19 Toby Rodes I believe in five-year cycles, and my career in Japan has at first been figure out the language, figure out how to basically be engaging and make friends and just become part of the group. 2 times in the scene
- ▶ 16:07 Toby Rodes No one else has done that coming out of Japan. 2 times in the scene
- ▶ 17:21 Toby Rodes I saw on the horizon that Japan was finally waking up from a thirty-year slumber, that a governance breeze was blowing, and that true to form, what Japan didn't understand, and that I could arbitrage into this market, was accountability… 3 times in the scene
- ▶ 17:57 Ted Seides So before diving into how you're doing that, I'd love to bridge that with talking about the case for Japan today. 7 times in the scene
- ▶ 19:20 Ted Seides So the corporate governance reform story has come in and out of favor in Japan, at least for the last 20 years. 10 times in the scene
- ▶ 22:26 Ted Seides So that initial wave that didn't really work out also sounds very consistent with how you described the culture of Japan and 10 times in the scene
- ▶ 26:14 Toby Rodes That was the BOJ doing a hostile takeover of the Japanese bond market. 6 times in the scene
- ▶ 28:50 Toby Rodes In Japan, we had the same 4000 listed companies, but we got there from 2000. 2 times in the scene
- ▶ 29:33 Toby Rodes What's really interesting is Japan has tried to educate their own domestic investor complex to be better custodians of capital. 3 times in the scene
- ▶ 32:13 Toby Rodes So a fan in Japan is the symbol of prosperity. 2 times in the scene
- ▶ 34:03 Toby Rodes One, in Japan, this has been a growth-starved economy for a long time. 4 times in the scene
- ▶ 35:44 Toby Rodes It's the biggest risk in Japan. 4 times in the scene
- ▶ 43:50 Toby Rodes This is the cultural element again, because Japan is a proof of work culture.
- ▶ 44:51 Toby Rodes Japan has shown that it compounds at about 12%. 2 times in the scene
- ▶ 46:34 Toby Rodes Market multiples in Japan are seven, eight, maybe depending on where you look and maybe market cap adjust, 12 times EBITDA. 2 times in the scene
- ▶ 48:59 Toby Rodes So the big element here, and it's playing out, is that this market for control is too painful for Japan to bear. 4 times in the scene
- ▶ 51:43 Toby Rodes So our portfolio is built for even things like the normalization of Japanese interest rates. 6 times in the scene
- ▶ 53:03 Ted Seides When does the banging the table of this is an exciting time to be investing in Japan get normalized? 4 times in the scene
- ▶ 57:14 Toby Rodes I think the second is a mentor in Japan. 3 times in the scene
- ▶ 59:55 Ted Seides Toby, thanks so much for sharing this really compelling case for what's going on in Japan.
Jase Auby - Risk, Size, and Talent at Texas Teachers (EP.404)
Training Grounds: Bain Capital, John Connaughton (EP.395)
- ▶ 22:35 John Connaughton We've had the same country managers in Japan, in China, in India, Korea, and Australia from the very beginning, and we've been there for 20 plus years, whereas I think our industry has just found they bring
- ▶ 23:25 John Connaughton Yuji Sugimoto runs Japan. 3 times in the scene
- ▶ 43:24 John Connaughton And being deep in a geography, a hundred people in Japan, these are all things that are table stakes to be really successful is that depth that I'm describing.
Ben Hunt - The Stories that Drive Markets (EP.393)
Anne-Marie Fink - Cutting Edge Pension Investing at SWIB (EP.389)
- ▶ 56:46 Anne-Marie Fink I have loved Australia, have loved Japan, China, Europe, Africa, a little bit of everything.
Dan Tennebaum - The Case for India at India Capital (EP.387)
- ▶ 35:51 Dan Tannenbaum There are companies in industries where penetration is eight decades behind the US, but capacity is due to come in the next five years that will all strip US, Europe, Japan, Russia combined.
- ▶ 43:40 Dan Tannenbaum In India, sometimes you are the only person doing that kind of work, particularly in the context of other investors that have to cover every other emerging market or every other AsiaX Japan market.
- ▶ 1:20:30 Dan Tannenbaum It's a larger economy now than Japan, but GDP per capita is still on par with Congo and Ivory Coast.
Cliff Asness - Simple Investing is Hard (EP.385)
- ▶ 51:24 Cliff Asness IFA, and driven mostly but not entirely by Japan, had crushed the U.S. for 20 years, maybe where the cognitive dissonance comes in.
Shiloh Bates – CLO Investing at Flat Rock Global (EP.379)
- ▶ 16:55 Shiloh Bates It's large Japanese banks and insurance companies that like to buy the AAA. 2 times in the scene
Michael Milken – Innovations in Finance, Medicine, and Education (EP.371)
- ▶ 34:27 Michael Milken So you could look at Japan, where two people die for everyone that's born, and you can buy in rural areas today entire towns for 250,000, because the people are gone and the young people want to live in the cities.
Magnus Grimeland – Day Zero Investing at Antler (EP.369)
- ▶ 11:45 Magnus Grimeland But when we started, the only way you could really buy things online there is getting shipped in from Japan or from Europe or from the US or from China.