Deep Value Graham & Dodd Opportunities In Japan [Part Two]

Following on from Deep Value Graham & Dodd Opportunities In Japan (Part One), in this part I’m looking at Jefferies’ recently published a research note on Japan’s economic reforms and where they see value in the country’s equity market. The note, titled Japan: Revisiting Graham & Dodd in Japan sought to establish how cheap or expensive the Japanese equity market has become, by using the deep value approach that Benjamin Graham & David Dodd created and revealed in their classic textbook, ‘Security Analysis’. Results were split into two portfolios, Firstly, a ‘defensive’ deep value portfolio based on large caps with…