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/ ----- JOIN THE TREND FOLLOWING MANIFESTO BOOK LAUNCH LIST TO GET SPECIAL LOW PRICE ON OUR UPCOMING BOOK DURING THE FIRST WEEK! - CLICK HERE ----- Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website. IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here. And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here. Learn more about the Trend Barometer here. Send your questions to info@toptradersunplugged.com And please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast. Follow Alan on LinkedIn. Follow Mission Value Partners on LinkedIn. 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 31:11 - Japan versus China and two very different economic models 35:55 - Has Japan really changed or were investors simply wrong? 40:45 - What Warren Buffett saw in Japan 45:19 - Is Japan’s government debt really as dangerous as it looks? 52:40 - What happens if Japanese capital starts coming home? 56:33 - What Japan could look like ten years from now Copyright © 2026 – CMC AG – All Rights Reserved ---- PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey: 1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here 2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here 3. Other Resources that can help you And if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click Here Privacy Policy Disclaimer