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In my view, as an investor in Japan, these firms are the best entry points to getting access to business relationships (and key projects) across Asia. One can i
by photon137 6y ago
In my view, as an investor in Japan, these firms are the best entry points to getting access to business relationships (and key projects) across Asia. One can imagine these to be huge aggregators of business relationships and as central points (besides the banks which are getting away from cross-shareholder relationships) into the major _keiretsus_. This is the entry fee for being really in the know in corporate Japan.
And, as another commenter mentioned, getting a sweet arbitrage on the low borrowing rate and earning a nice dividend yield doesn't hurt.
- omot 6y agoHe's 90 years old. It's kind of amazing, he's investing like he'll live for another century.
- bbddg 6y agoHonestly it's kind of psychotic.
- deadwing0 6y agoWhat makes it psychotic? I'd guess he really enjoys what he does. I hope to find something I enjoy that much and do it until I'm 90, too!
- eloff 6y agoI don't think he ever did it with the intention of being around to spend the money. He lives off his modest salary, drives an old vehicle, and still is in the same normal house as decades ago. The money is more like points in a game to him I think, he just loves the game.
- vmception 6y agoLiquidity service provider
- novok 6y agoThat is a well constructed image. In reality the man has multi million dollar vacation houses and is quite ruthless in business.
- Reedx 6y ago> In reality the man has multi million dollar vacation houses Source? He had a vacation home that he bought in 1971 for $150k, but sold it a few years ago. So far haven't seen anything that would suggest he's not as frugal as advertised.
- bleuedejapan 6y agoHe wouldn't own anything to his name. He would put his assets in an offshore trust.
- labster 6y agoYeah, but if I had the kind of money he had, I would build a money bin on a hill and put 3 cubic acres of cash in it. Offshore accounts are just boring in comparison.
- bleuedejapan 6y agoThat's definitely fun. But not fiscally sound. And you don't become a billionaire by having fun, unfortunately. I'd much rather to see someone putting crazy ideas into action having money...
- labster 6y agoNah, you get to be a billionaire by being smarter than the smarties, tougher than the toughies, and making it on Square.
- saganus 6y agoI guess he's one of those people that have spent so much time working on their business that he won't really retire until he's passed away. Also, I suppose he has a whole team of people helping him make those kind of decisions, so perhaps this just reflects the company's strategy instead of a personal one? (as much as they can be treated separately, which they may not)
- derf_ 6y agoBuffett likes to tell the story of Rose Blumkin, who founded Nebraska Furniture Mart, and worked until she was 103. Once she retired, she was dead within a year. This is meant to serve as a warning to other Berkshire managers thinking of retiring.
- 29athrowaway 6y agoSome people suffer a purpose crisis when they retire. Some people just enjoy what they do. Some people enjoy being at the top of an organizational hierarchy. Whatever the reason is, it's legitimate for a person to not retire if they choose not to do so. I am curious if he will really honor The Giving Pledge upon death. https://en.wikipedia.org/wiki/The_Giving_Pledge https://en.wikipedia.org/wiki/The_Giving_Pledge
- x87678r 6y ago> low borrowing rate Japan used to have unbelievable low rates. Now its just normal. Sometimes I look at Japan (and Europe) and see cheap stocks everywhere but the next day look again just to see value traps. I'm not sure Buffet will live long enough to find out which one they are.