Food for Thought #53 // Links

Includes: risk appetite, Japan, comparative advantage, energy, coal and commodities, vaccination narratives,

KoI reminds us it is Time to check your risk appetite about biases regarding (un)realized PnL’s and rebalancing.

He also reminds us of Michael Porter’s three ways to be successful as a business: be cheaper, be better or Be Different.

  1. The low cost strategy … makes a company able to undercut competitors and gain market share.
  2. The focus strategy: provide the highest-quality in a specific product, region or market niche to gain market share.
  3. The differentiation strategy: differentiated products allows to charge higher prices and generate loyal customer base.

A nice 10min video about Japans new maglev line (magnetic levitation).

  • I absolutely loved using Japanese trains as a tourist – esp. as a German!
  • I know about the Japanese railway companies (most of all JR Central: 9022 JP) as a potnetial investment for a long time
    • Might an investing be interesting with massiv investments (5:30) coming to an end
    • and mobility, also through tourists, potentially rebounding?
      • JP is frequently stated as #1 international destination and the tourist pass is a steal

Undervaluedjapan with some interesting links (incl. Sony). The HBS piece about Japanese businesses talent to survive crisis got me interested, I read about hte topic before. The HBS piece is mostly about tears-provoking responses from CEO’s in regard of the March 2011 catastrophe. Reading it made me wonder how Shinoken (I am invested) responded. Shinoken offered some free housing and some further donations (press release (translation) from March 15th, 4 days after 11th).

Massiv Capital Q4 2021 letter focuses on energy and commodities. (incl. ZIM US, KAP LI, AOI SS)

Swen Lorenz about a potential change in the vaccine narrative* and with another great weekly dispatch* on Coal, directly addressing the diverging (global) reality and the story told in our media. In my 2021 review I refered to the ‘getting further and further away from reality‘ and then a few days ago twitter presented me this promoted post. Last year should have taught us, that commodity prices (better to think in contracts) are best discussed specifying delivery time and place and further taking into account demand.

Best and happy investing, s4v


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One thought on “Food for Thought #53 // Links

  1. Im not sold on Maglev as not that much improvement. I think Zoom (over priced) increases economic prosperity more than a fast train. Pabrai sold a bit of Shinoken but unsure why at this stage.

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