Anjin Advisers

Nearly 30 yrs managing Japanese equities, of which 15 co-managing one of the more successful L/S funds. Still addicted & learning. Not investment advice.

[Anjin Advisers @jdhinuk45]

@TheMichaelEvery Agreed. I can't find one British politician who shows evidence of understanding how national wealth is actually created.

[Anjin Advisers @jdhinuk45]

@Frencheconomics There is, indeed, a strong case but Labour will not pursue some of the key rationales, such as setting up fiscal & regulatory competition between regions and breaking up unmanageable state institutional monoliths.

[Anjin Advisers @jdhinuk45]

@Frencheconomics The municipalism part of that suggestion might have some mileage, although national networks don’t fit as a rule. The socialism part has never worked and never will. It’s extraordinary it has any credibility given the evidence of the past.

[Anjin Advisers @jdhinuk45]

@Frencheconomics @thetimes If only they would set some clear objectives. How about a single universal tax rate for all the major taxes & the individual tax return should be no longer than 4 pages long for starters. The costs of the tax industry alone are themselves staggering.

[Anjin Advisers @jdhinuk45]

@OHare888 @GMOInsights Grantham didn't get rich by being wrong.

[Anjin Advisers @jdhinuk45]

@Frencheconomics He could. However, the recent Labour-led 143-page Business and Trade Committee report "Investing in the UK Economy" mentioned the words "deregulate" and "deregulation" a total of 0 times. He won't.

[Anjin Advisers @jdhinuk45]

@gave_vincent Never read any book. Let alone a history book.

[Anjin Advisers @jdhinuk45]

@MikeFritzell It's one of the most effective ways of evaporating capital and squaring the circle of where paper values disappears.

[Anjin Advisers @jdhinuk45]

@ttmygh There’s no circus big enough for all the clowns they’ve got.

[Anjin Advisers @jdhinuk45]

@ttmygh Facts appear to be in short supply.

[Anjin Advisers @jdhinuk45]

@Frencheconomics Just follow the money on this one from taxing at 40% the entrepreneur who invested rationally to the fraction of that that will be invested irrationally by a minister with no private sector experience.

[Anjin Advisers @jdhinuk45]

@C_S_Skeptic It’s all about career risk for everyone involved. Client interest sits further down the list.

[Anjin Advisers @jdhinuk45]

@BobEUnlimited Alternatively, Japan repatriated $74bn worth of US Treasuries, realising significant FX gains in the process...

[Anjin Advisers @jdhinuk45]

@LukeGromen Just making another enemy of a former friend. That leaves, er, Russia and Israel globally. Particularly handy when fighting Iran.

[Anjin Advisers @jdhinuk45]

@EuroBriefing Sensible carbon taxes with border adjustments would help with this issue whereas Net Zero worsens it. Brilliant.

[Anjin Advisers @jdhinuk45]

@orrdavid There might be something proximate to a management consultancy angle to consider, too.

[Anjin Advisers @jdhinuk45]

@JapanDeepValue1 @vanckzhu If I were a Mrs Watanabe or an ag co-op, with Bessent bejuicing the bejesus out of the US economy & seemingly everyone wanting the yen stronger, I think my Treasuries would be keeping me even more awake!

[Anjin Advisers @jdhinuk45]

@JapanDeepValue1 @vanckzhu I'd still rather have a stake in private land at a discount to early-20th century book prices & paying 4% divis than government IOUs at manipulated market prices. Demographics likely to counter governance & immigration roll-backs over time. Too many inflows recently, though.

[Anjin Advisers @jdhinuk45]

@JapanDeepValue1 @vanckzhu I'd be more negative if I thought we were moving back into deflation, whereas I see inflation and more of it. Real assets feel better in the latter context.