Reminds me of this Buffett quote. “It's kind of nice to be able to recycle Snow White every seven or eight years. You hit a different crowd. It's like having an oil field where you pump out all the oil and sell it. And then it all seeps back in over seven or eight years."

Interesting take on product management. Does anyone know of any real examples of a company that did this successfully?

Divergence in the different US indices YTD

India, China/HK, Australia are roughly flat YTD. Pretty big divergence within the APAC region.

Japan, Korea, Taiwan are all up 17% YTD in local currency. What’s going on?

$SMCI which does hardware for data centres is going parabolic.

PetroChina once had a market cap $1 trillion dollars in 2007. That feels so strange in today’s context but I guess it wasn’t so crazy at the time. Oil was $140/bbl and China’s GDP was going to keep growing double digits.

@_fabknowledge_

But end of the day, price and valuations still matters

The bulls were right about the earnings over the next 10-20 years

Who cares about PE ratios right?

Sentiment was strong and earnings momentum was positive too.

Things looked pretty good at that point in time.

Cisco in 1999 looked pretty promising as the no.1 player in networking equipment (switches/routers). They were the obvious direct beneficiary of the internet wave that was taking over the world.

Anicom (8715) to buy back up to 4b yen worth of shares

MS&AD Insurance Group (8725) To Buy Back Up To 1.12% Own Shares Worth 20 Billion Yen Tokio Marine Holdings (8766) To Buy Back Up To 1.5% Own Shares Worth 50 Billion Yen Sompo Holdings (8630) To Buy Back Up To 2.10% Of Shares Worth 25 Billion Yen

@lhamtil Where does Nike, Zara, Uniqlo fit into this framework? Feel like they have successfully catered to the masses

Suruga Bank (8358) To Buy Back Up To 18.58% Own Shares Worth 22 Billion Yen Fuji Media Holdings (4676) To Buy Back Up To 4.4% Of Shares Worth 10 Billion Yen

Sony Group (6758) to buy back up to 2.03% of shares worth 200b yen Canon Inc (7751) to buy back up to 1.8% own shares worth 50b yen Recruit (6098) to launch tender offer for 23m own shares (1.39% shares) at 3326 yen. Dai Nippon Printing to tender 18.3m of their recruit shares.

Aoki Holdings (8214) To Buy Back Up To 1.18% Of Own Shares Worth 1 Billion Yen UT Group (2146) To Buy Back Up To 3.22% of Own Shares Worth 2.8 Bln Yen

Akatsuki Inc (3932) To Buy Back Up To 16.49% Own Shares Worth 4.8 Billion Yen Mitsui Matsushima Holdings (1518) To Buy Back Up To 15.39% Own Shares Worth 3 Billion Yen Okinawa Financial Group (7350) To Buy Back Up To 5.65% Of Own Shares Worth 2.9 Billion Yen

Alfresa Holdings (2784) To Buy Back Up To 10.4% Own Shares Worth 35 Billion Yen Kyocera Corp (6971) Says It Will Buy Back Up To 2.25% Of Own Shares Worth 50 Billion Yen Nac Co Ltd (9788) To Buy Back Up To 5.8% Of Own Shares Worth 1.3 Billion Yen

Komori Corp (6349) Says To Buy Back Up To 2.73% Of Own Shares Worth 1.5 Billion Yen Macromill (3978) To Buy Back Up To 3.79% Of Own Shares Worth 1.2 Billion Yen Mirait One (1417) To Buy Back 4.71% Of Outstanding Shares Worth 5 Billion Yen

Suzuki Motor (7269) Says It Will Buy Back Up To 1.2% Of Own Shares Worth 20 Bln Yen T&D Holdings (8795) To Buy Back Up To 7.31% Own Shares Worth 40 Billion Yen Nissan Chemical (4021) Says To Buy Back Up To 0.89% Of Own Shares Worth 5 Billion Yen

Mochida Pharmaceutical (4534) To Buy Back Up To 2.96% Of Own Shares Worth 3.5 Billion Yen Dai-Ichi Life (8750) Says To Buy Back Up To 9.11% Of Own Shares Worth 120 Billion Yen Japan Post Holdings (6178) Says It Will Buy Back Up To 10% Of Own Shares Worth 300 Bln Yen