GM109: Why Buffett Finally Went All In on Japan ft. Andrew McDermott

Alan Dunne is joined by Mission Value Partners founder Andrew McDermott to challenge some of the conventional thinking around Japan. Andrew argues that Japan’s supposed “lost decades” look very different when viewed beyond GDP and stock market performance, and that its emphasis on manufacturing, engineering and long-term resilience may now be becoming a major advantage. They discuss the consequences of financialization in the US and Europe, Japan’s role in semiconductors, robotics and AI, and why Warren Buffett’s move into Japanese equities matters. The conversation also explores public debt, domestic capital flows and why Japan could play a much larger role in the global economy ahead. For those who are quick, check out this event featuring Andrew McDermott as well as last weeks guest Jesper Koll: https://mvpnashjapan.up.railway.app/

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Episode TimeStamps:

00:00 - Introduction and Andrew’s path into Japan investing

05:05 - Why Andrew thinks Japan’s capitalism works better

11:32 - Manufacturing, industrial policy and the return of real investment

15:10 - Why investors may have misunderstood Japan for decades

19:56 - Is the era of financialization starting to reverse?

24:52 - AI, machine learning and Japan’s hidden advantage