As a global conglomerate that operates businesses in various industries, Mitsubishi Corporation is Japan’s largest “sogo shosha,” uniquely Japanese trading companies.
Japan’s stock market has been one of the world’s best performing in 2023. In this Portfolio Perspective, the Portfolio Managers discuss potential catalysts for the market, Japan’s economic “sweet spot,” and Berkshire Hathaway’s increased investment in Japan.
The Portfolio Managers of the Hennessy Japan Small Cap Fund provide their thoughts on the new Bank of Japan (BOJ) Governor’s policies, increased tourism, current valuations, changes to the portfolio, and an outlook for the rest of 2023.
Portfolio Managers Dave Ellison and Ryan Kelley discuss the banking crisis that unfolded in the first quarter of 2023, deposit withdrawals and their effect on banks, valuations of Financials, and an outlook for the sector for the remainder of 2023.
Berkshire Hathaway has increased its investment in five Japanese trading companies, Mitsubishi Corp., Mitsui & Co., Sumitomo Corp., Itochu Corp., and Marubeni, with investors taking notice. With Buffett strengthening his focus on Japan, we believe investors should as well.
The Portfolio Managers of the Hennessy Gas Utility Fund discuss the production and demand dynamics of natural gas since the pandemic, including liquefied natural gas (LNG) exports and natural gas bans. They also provide an investment case for the Hennessy Gas Utility Fund.
In the following commentary, the Portfolio Managers of the Hennessy Cornerstone Value Fund discuss the Fund’s formula-based investment strategy and how it drives the Fund’s sector and industry positioning.
In the following commentary, the Portfolio Managers of the Hennessy Cornerstone Large Growth Fund discuss the Fund’s formula-based investment process and how it drives the Fund’s sector and industry positioning.
In the following commentary, the Portfolio Managers of the Hennessy Cornerstone Growth Fund discuss the Fund’s formula-based investment strategy and how it drives the Fund’s sector and industry positioning.
Portfolio Manager Ben Cook, CFA discusses his thoughts on production and demand for the primary fuel mix, a continuation of buybacks and dividends in the Energy sector, and where the Fund is finding opportunity.