Will Japan’s value trap be solved? A catalyst is a substance that does not itself change during a chemical reaction, but acts to affect the rate of the chemical reaction. Value inves… 2023-06-12 Noriyuki Morimoto The Meaning of Losses in Investments with No Endpoint The principle of investment is to not lose money, not necessarily to make money. Assets themselves have intrinsic profitability. In other words, earni… 2023-05-15 Noriyuki Morimoto The Appeal of Low-Liquidity Assets In investment, liquidity is the ability to sell an asset immediately at a reasonable price. Liquidity is an advantage because salability is an importa… 2022-07-11 Noriyuki Morimoto The essence of investing in a nutshell An asset is something that generates cash flow, and the value of an asset is the present value of future cash flow. The value of real estate is the… 2022-03-22 Noriyuki Morimoto Investment and Speculation in Managed Futures Futures are objects of speculation on the one hand, but on the other hand, they are extremely important hedging instruments for producers of crops and… 2022-02-07 Noriyuki Morimoto Cash is king When a financial crisis hits, real estate companies suffer slower sales, and their cash flow quickly deteriorates due to the difficulty of raising fun… 2021-01-12 Noriyuki Morimoto Cows over pigs One maxim that expresses the basics of investment is “cows over pigs.” Cows here are not cattle for meat, but dairy cows for milking. Pigs, on the oth… 2020-11-24 Noriyuki Morimoto Theoretical price of dairy cows and the essence of investment The theoretical price of a dairy cow is the present value of net cash flow it generates. This can be calculated by estimating the total sales price of… 2020-11-09 Noriyuki Morimoto The S-curve is the key of investment In Otemachi, a prime location in the center of Tokyo, the land price is extremely high, and so is the rent. Meanwhile in Jimbocho, a neighboring town … 2020-06-08 Noriyuki Morimoto The adventurer does not take risks Adventurers do not take risks. The reason to say so is that in the adventurer's mind, danger is recognized as completely controllable, and their attit… 2019-09-24 Noriyuki Morimoto 12»
