We discuss the use of Smartkarma Smartscore system to screen stocks in KOSPI 100. In using the Smartkarma Smartscore system, the phrase 'WHERE THERE IS SMOKE, STAY AWAY' is appropriate. skr.ma/vCo8m

This one is only up ~22% in the last year, one of the weaker performers. It remains very cheap though and I still own a full position here. It's almost a double net-net with mcap of $26m vs NCAV of $45.4m. Not an exciting biz, but they specialize in quiet, high quality casters.

80 bagger since ~2015. But it was flat from 2000 - 2015. Wild!

Here's a quick rundown on Alpha Purchase $7115.JP a microcap with double-digit growth and ROCE valued at 10x cash adjusted P/E which I think has an asymmetric R/R profile.

A double from here should be possible and potentially more 🧵

This name ran up significantly since market open after earnings. Opened up like 7% finished up 17%. Then up another 8% the next day. These tiny mcap names do not adjust to news/earnings quickly. Inefficient markets in nanocap jp land

Cocoa Biggest Loss in 65 Years 🚨

Chocolate lovers rejoice! Cocoa suffers biggest daily loss in 65 years.

On the other end is this guy

That‘s a polite way to say that Europe is becoming open-air museum due to overregulation and lack of innovation

Lotsa buybacks from chinese tech companies!

Indonesia ahead of Hong Kong - what?

My thoughts on the bid on L'occitane ($973.hk), there is a chance we can get paid much more: globalstockpicking.com/2024/05/03/loc…

90% chance that the high for oil is in for the year.

Which means the high for yields (10 yr) is likely in as well.

The Philippines has yet to make this journey. It's going to happen.

Nikon (7731) was up 10.3% today. Bloomberg reported in all caps yesterday:

*SILCHESTER REPORTS NIKON STAKE; MAY SEEK CAPITAL POLICY CHANGES'

The stock popped, and Bloomberg put out an article.

Nice line:

'Japan is in a moment of historic emergence. It is, all at once, exiting decades of deflation, stagnant wages, suppressed equity prices, change-resistant governance and labour excess and... doing so without guides.'

ft.com/content/1a4899…

👀 this system integrator provides pretty critical IT systems to some of the largest financial institutions in Japan.

Very stick business as a result.

The one that got away, Japan Elevator Service 😳😳

One company that interested me at some point was i-mobile which trades at an EV/EBIT of 1.9x

This is a growing business with operating margins and ROIC of >20% and debt free.

It operates a website called Furunavi which helps Japanese municipalities advertise themselves to…

Japan's Stealth Profit Boom

'The common rationalization is that American companies have been better managed than their Japanese equivalents and have grown profits faster.

'In our view, there is a small problem with this narrative: it’s wrong.'

mailchi.mp/verdadcap/japa…

Hello!
After procrastinating to death I'm finally launching on that 'newsletter site'. (link in bio)

I've been delaying this because I feel weirdly insecure about my long-form writing. But with Nikkei hitting highs, I guess today couldn't be a better day to start it, so fuck…