Do you have an existing allocation to Japanese equities? Have you fully considered the entire opportunity set and the relativities between different parts of the market? If you have, then you know that investors buying the Nikkei are paying a >3x valuation premium vs Japan's small companies. My newly published article for Livewire discusses the valuation disparity many investors may be missing. Japan has around 3900 companies. Only 225 of those make up the Nikkei index most commonly used as the basis for index futures in Japan. Those companies, while potentially attractively priced vs the US, are very expensive relative to their smaller Japanese counterparts. View the full article at the link in the comments.

What a week! Hundreds of investors reached out to us following Jessica Sier's piece on Senjin Capital in the The Australian Financial Review on Monday. It turns out, traditional media is still king when it comes to gaining a wider audience for your ideas! Jess turning out a piece deemed worthy of a full page spread no doubt helped our cause significantly. I have since had many interesting conversations with a diverse range of investors, many with a deep connection to Japan. Other investors though, have never even visited Japan but instantly understood the valuation opportunity. For those that missed reading the article in print, via the AFR's website, or via my post from Monday, I have reposted it below. If you are a wholesale investor interested in learning more, visit Senjin Capital's website and sign up to our newsletter or book a call with us.