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🇯🇵BOJ Gov Ueda finally finding his inner Kuroda as JGB yields keep surging

27,058 просмотров • 1 год назад •via X (Twitter)

Комментарии: 11

Фото профиля Weston Nakamura
Weston Nakamura1 год назад

For those who don't know who (former) Bank of Japan Gov Kuroda is / what he's about - he's the guy who bought up more than ½ of outstanding JGBs in radical QQE policy Here's a good interview of Kuroda with @lexfridman 👇

Фото профиля Rarely Tolerable.
Rarely Tolerable.1 год назад

Do you support Trump revoking the security clearances of NY AG James, Manhattan DA Bragg and Former Sec of State Blinken?

Фото профиля Milton
Milton1 год назад

@kevinmuir must be rubbing his hand together being long JPY :-)

Фото профиля JPY Only
JPY Only1 год назад

He just put a lid on Yen!

Фото профиля 暴威ロンドン
暴威ロンドン1 год назад

Love to see his face when someone tells him about his inner Kuroda 😂

Фото профиля investbitcoinguide
investbitcoinguide1 год назад

All they need is an economic slowdown in the US for the yen to rocket back up. No need for high yields.

Фото профиля FeanorLegend 🇯🇵⚾
FeanorLegend 🇯🇵⚾1 год назад

With 4% inflation....

Фото профиля 阿修羅
阿修羅1 год назад

Did you dub over Simba for this? 😂

Фото профиля Weston Nakamura
Weston Nakamura1 год назад

Well it wasn’t in the original… Problem…?🧐

Фото профиля Lukasz Skiba
Lukasz Skiba1 год назад

Following the BOJ conferences, I find K. Ueda to fit better in this scene:

Фото профиля TheCurlyAfro
TheCurlyAfro1 год назад

😂

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Warren Buffet(‘s behavior) is screaming to me of imminent 🇯🇵BOJ yield hike Grab a tin foil hat & hear me out Buffet is/was in Tokyo on Mon & Tues, if not earlier. Why? According to WB- to meet CEOs of the big 5 🇯🇵trading houses he owns: Mitsubishi Corp Sumitomo Corp Mitsui &Co Itochu Marubeni (🇯🇵trading houses are very strange & complex mega-conglomerates, each w/ ~1,000 subsidiaries spanning a wide array of sectors from convenience stores to industrials, but by & large are commodities plays- shares move ↑&↓ accordingly w/ commods). Why the need for WB to meet 🇯🇵trading house CEOs in person? Apparently, to say “keep up the good work fellas” & to reiterate longstanding “my door is always open to do deals” & then interviews w/ Nikkei & CNBC to disclose that he upped his stake to 7.5% of each company Cool. Now- isn’t it a bit curious for this 90+ yr old billionaire to jump on a plane from Omaha → complete other side of the planet for.. that? Here’s why that’s weird Aug 2020, Berkshire disclosed 5% holdings in each of these trading houses. He funded these investments by issuing bonds in super low JPY rates at ~1% (basically free, especially when considering div yields at >2%) In other words- in late 2020, WB made a phenomenal macro trade: Short bonds / long commodities Before yields & commods skyrocketed Great trade, but a very un-Buffet-like investment style. This isn’t the bottom up fundamental analysis & single stock picking he’s famous for - as mentioned, it’s basically impossible to conduct bottom up analysis on 🇯🇵trading house conglomerates w/ thousands of subsidiaries. Going equal weight 5% across each of the 5 for broad sector exposure is admission of not being able to do genuine fundamental homework. But whatever- great trade, period That’s not the weird part What’s weird is (again), this trip to Tokyo to meet CEOs - & this is all spelled out in his own words in the clip below. Buffet hasn’t physically been to Japan for like a decade & a half. That means: No face to face meet when first acquiring initial 5% stakes - he stealthily executed those buys on the Tokyo stock exchange before disclosing. He says that at the time, he wrote letters to each of them saying he gives his word that his holdings won’t exceed 10%. A gentleman’s promise via written letters indeed signal trust in keeping his word - but a face to face meet would go a long way further. Yet, no plane ride →🇯🇵then either & since going long, shares in all 5 have only gone up- exceeding expectations as he says. So it’s not like there are problems to have to settle (like Wells Fargo) or rescuing to do (like Goldman). So, again- why in the hell did a 90+ year old, extremely satisfied shareholder “for decades more” feel the need to break a 15 year no-🇯🇵-visit streak & fly to Tokyo to meet in person, let alone with absolutely nothing of significance to do/say? Aren’t there like.. banking problems at home that he’s helping advise the US gov on? Why 🇯🇵, NOW? Well - it just so happens that this Mon was also when a brand new BOJ Governor began his tenure, after a decade of free Kuroda money that helped finance these 🇯🇵 investments, w/ some bonds maturing. WB (also in this CNBC clip) says he will once again issue debt to fund his increased investments. Could it be that the real reason for taking a full lap around the planet was to perhaps “check in” w/ the new BOJ & see if JPY borrow costs are about to jump higher? This is a guy who can get the Fed chair & Treasury Sec on the line at any time. He can very much also get access to rookie Ueda at BOJ He says he wouldn’t start buying these trading houses at current valuations- so then why averaging up? He isn’t concerned w/ share prices- he’s locking in world’s last source of cheap funding left- before rates lift Watch the clip & read the Nikkei transcript through this lens (& what does BOJ Ueda get out of this? See clip @ 4:50) Buffet sees JPY rates↑ & soon & he’s a guy who does his homework

Weston Nakamura

1,000,903 просмотров • 3 лет назад