TIP565: Why Buffett is Doubling Down on Japan w/ Dan Rasmussen

The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.6 • 3.6K Ratings

🗓️ 16 July 2023

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

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Summary

Clay Finck chats with Dan Rasmussen about why Japanese equities offer some of the most attractive valuations in the market today, how stretched growth stock valuations are relative to value and much more. Dan is the Founder and Portfolio Manager of Verdad, which is a global asset management firm that strives to achieve the highest risk-adjusted returns possible through rigorous research and its practical application. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro. 01:45 - Contrarian views of the market Dan holds relative to the rest of the market. 05:14 - Why the US is overvalued relative to international stocks. 09:19 - Historically how undervalued value indices are. 13:27 - Why Dan is bullish on Japan. 13:44 - The value mandate that Japan put in place to try and juice stock market valuations. 24:11 - Dan’s views on Japan’s policy of yield curve control. 24:42 - What’s keeping investors away from Japan’s stock market. 30:57 - What the financial accelerator is and how it relates to the 2023 banking crisis. 36:12 - How equity markets tend to behave after a Fed pause. 36:30 - How high-interest rates are affecting corporate earnings. 51:21 - Dan’s views on the Chaos Kings and their strategy of Crisis Investing. 60:40 - How Verdad’s portfolios are positioned today. 72:21 - What technologies excite Dan in creating a better society for the future. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members. Check out of our review of Microcap Investing with Ian Cassel, or watch the video here. Follow Dan on Twitter. Follow Clay on Twitter. NEW TO THE SHOW? Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: River Toyota CI Financial Sun Life AFR The Bitcoin Way Industrious Briggs & Riley Range Rover Meyka iFlex Stretch Studios Vacasa Public Simon & Schuster USPS American Express Shopify HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

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0:00.0	You're listening to TI-P.
0:03.4	On today's episode, I sit down with Dan Rasmussen, who is the founder of Verdad.
0:08.6	Because of the rigorous research that Verdad does, Dan is one of my very favorite guests
0:12.7	to bring on the show to discuss markets or sectors that offer the most attractive value.
0:17.2	During this conversation, we cover why Japanese equities offer some of the most attractive
0:21.3	valuations in the market today.
0:23.6	What's keeping investors away from the Japanese stock market?
0:26.8	Dan's views on Japan's policy of yield curve control, how stretched growth stock valuations
0:31.9	are relative to value in the US, what the financial accelerator is and how it relates to the
0:37.5	2023 banking crisis, how higher interest rates are affecting corporate earnings, why Dan
0:42.8	is skeptical of the chaos-king strategy for profiting off a crisis, what technologies
0:48.3	excite Dan in creating a better society for the future and much more.
0:52.7	We had Dan on We Study Billionaires back on episode 455 to discuss crisis investing in
0:57.9	how he profits from a crisis.
1:00.0	So if you enjoy this episode, I'd encourage you to check that one out as well.
1:03.6	We hit on a lot of different topics today, so I really think you will enjoy Dan's insights.
1:08.2	Without further delay, here is my chat with Dan Rasmussen.
1:12.3	You are listening to THE Investors Podcast, where we study the financial markets and read
1:20.6	the books that influence self-made billionaires the most.
1:23.7	We keep you informed and prepared for the unexpected.
1:26.8	Hey everyone, welcome to THE Investors Podcast.
1:37.6	I'm your host today, Clay Fink, and I'm delighted today to be joined by Dan Rasmussen.
	...

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