Wed, Apr 25, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

The Big Picture: SPARX takes on resurgence of Japanese equity

Thursday, October 17, 2013

amb
Shuhei Abe
Benedicte Gravrand, Opalesque Geneva:

An Opalesque column for global macro investors.

Shuhei Abe, the founder of SPARX Asset Management, Asia's largest hedge fund manager based in Tokyo, says he has been very bullish since the beginning of this year, as Japan looks like it is ending its long-term deflationary super-cycle.

Coming out of a bubble The cycle started with the Japanese asset price bubble, an economic bubble in the late 80-early 90s in which real estate and stock prices were greatly inflated. The aftermath of that bubble saw asset prices continuing to fall, leading to what was called the "lost decade". The Nikkei 225 started plummeting in December 1989 from a high of almost 40,000 to lose 64% of its value in 32 months. Although showing many ups and down during the next few years, it never got back to this peak and lost a total of 82% from that day till October 2008. After that, the index was kept down by the financial crisis, the March 2011 earthquake and other events. But Shinzo Abe came to power, and the index climbed up again in December 2012.

"In 2010, I felt a bit positive on the market, but unfortunately, my optimism was not supported by reality," said SPARX' Shuhei Abe. "We had the Tohoku earthquake and the nuclear plant meltdown, and that year through to the beginning of 2012, we ha......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - Sequoia takes Facebook stake as shares slide in data controversy, $1.4b hedge fund sees intact fundamentals for Facebook, Jim Cramer reveals some 'suggested hedge fund trades' amid the Trump tariffs[more]

    Sequoia takes Facebook stake as shares slide in data controversy From Bloomberg.com: The $4.2 billion Sequoia Fund bought a small position in Facebook Inc. as the stock slid late in the first quarter, investment manager Ruane, Cunniff & Goldfarb told clients. "The recent controversy enab

  2. Activist Investors - Blue Sky-owned Wild Breads faces uncertain future[more]

    From AFR.com: A Blue Sky private equity investment in artisan-style baker Wild Breads enjoyed multiple valuation upgrades despite losing millions and breaching its lending covenants, accounts lodged with the regulator last week show. Wild Breads lost $2.4 million in 2017, but Blue Sky ascribed a hig

  3. Opalesque Exclusive: Barnegat to close hedge fund to outside investors on weak opportunities[more]

    Komfie Manalo, Opalesque Asia: Bob Treue's Barnegat Fund Management said it is closing its $666m fixed income relative value hedge fund to outside investors. "The negative side to gains in Fixed Income Arbitrage is that unless we find new opportunit

  4. Investing - Hedge fund makes a big bet on malls, British hedge fund manager Odey short UK government bonds on QE bet[more]

    Hedge fund makes a big bet on malls From Barrons.com: The dominant narrative on American shopping malls is that they're dead. Crushed by Amazon.com, many brick-and-mortar retail stores are destined for bankruptcy. And where is the most retail, clustered all together? Malls. From a

  5. Performance - Hedge funds suffer first back-to-back loss in two years, Netflix performance burns hedge fund short sellers, Macro hedge fund up 14.5% in first quarter sees dollar falling, Renaissance Technologies rebounds across hedge funds in March[more]

    Hedge funds suffer first back-to-back loss in two years From Bloomberg.com: Hedge Fund returns sank for a second straight month in March, the first back-to-back loss since the first two months of 2016, as trade wars, tech-sector woes and a Fed rate hike dragged down the S&P 500 from its