7/23 update: The 3rd issue of Uguisu Value will be published by this Sunday afternoon ahead of the Monday open in Tokyo. See below for other updates.
7/5 update: The 3rd issue of Uguisu Value will be published later this month. I’ve been monitoring valuations and researching a narrowed selection of companies for the 3rd issue’s feature best idea. I’m excited to finalize and publish the 3rd issue. Meantime, I’m equally excited about the first two best ideas from the first and second issues, which are up 20% and 8% respectively since publishing — since I’m targeting 200%+ upside in the first instance and a baseline double in the second. Details of Uguisu Value are available here. After you have had a chance to see details at the aforementioned link, if you’re interested in a free sample of the first issue of Uguisu Value please request via email: firstname.lastname@example.org.
*** “Safety in Value” on Seeking Alpha has just published an interview with me. He had excellent questions and was very kind to edit and format them. If you’d like to know more about my background and Uguisu Value, you’ll want to read our interview: http://seekingalpha.com/article/3301795-finding-value-in-japanese-stocks-an-interview-with-steven-towns
5/27 update: Patience and discipline. Multi-year highs in Japan. Not as many interesting (valuation) companies, but still plenty for discerning investors. My best ideas published thus far in Uguisu Value and some of my other core positions remain attractive (not only in terms of potential upside but also given their operating businesses, management, and etc.) despite their higher stock prices. I target baseline 2x opportunities and I manage a highly concentrated portfolio.
4/14 update: As of the Tues. 4/14 close in Tokyo, the featured company in the first issue of Uguisu Value is up 28% since publishing in January. See below to request a full sample copy. The second issue’s featured write-up is down approx. 3% since publishing. With the company currently available at less than a 5% premium to the publish date’s price per share, new subscriptions will begin with the Q2 issue.
3/29 update: I published the Q2 issue of Uguisu Value on 3/29 at around 1:30 pm JST, 12:30 am New York. See below re. Q1 sample and for subscriptions.
3/21: Japanese stocks have done well in this first quarter (the fiscal third quarter for many in Japan) with the closely watched Nikkei 225 up 12% (+16% from its ytd low). I released the first issue of the Uguisu Value newsletter in mid-January. Details of Uguisu Value are available here. In short, the purpose of the letter is to identify and write-up one best idea (selected from within the Japanese micro and smaller-cap universe) each issue. The premise and inspiration: capitalizing on circle-of-competence and portfolio concentration underpinned by a margin of safety (e.g. Berkowitz, Buffett and Soros among others).
After you have had a chance to see details at the above link, if you’re interested in a free sample of the first issue of Uguisu Value please request via email: email@example.com. Compared to the deep-value style investment in the first issue, the second one will be more in the moat/compounder category (higher ROE; attractive valuation with growth catalysts; solid MOS) and its market cap is between US$500mn-$1bn. Samples will not be made available for the Q2 and future issues.