GMO Buyback - Approaching The End But...
In mid-February 2020, upon releasing full-year earnings, GMO Internet (9449 JP) announced a buyback programme which looked big but had some...
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GMO-PG – When Does Hiding Out in a 112x PE Stock Become a Good Idea?
In something of a betrayal of our typically value investing mentality we have been positive on GMO Payment Gateway which tends to trade at anywhere...
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Battleground Spot For Global Equities
The risk of a pullback remains very real, however at this point the weight of the evidence suggests a meaningful pullback is not imminent. We recap...
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SMBC Americas Holdings – Expecting 19% NPLs in USA
* Pre-COVID-19 Challenges:SMBC Americas Holdings (8316.JP) [SMBCA] had a number of challenges even prior to the impact of COVID-19, which included:...
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Japan Mega Banks – Avenue of the Americas
* All That Glitters Isn’t Gold: Structurally, the Megabank American franchises are well-capitalized, have strong credit metrics, and are reliant on...
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