Charlie Munger, Buffett’s late enterprise companion, referred to as the Japan wager the most effective of Buffett’s profession. In a 2023 podcast, he mentioned the deal was “like having God simply opening a chest and simply pouring cash into it.” Munger highlighted the simplicity and energy of borrowing cheaply in yen to spend money on cash-generating Japanese shares—a uncommon convergence of worth, yield, and alternative.
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