In Asian markets, the trust factor is a lot lower and ownership is more concentrated. In Japan and Hong Kong it is easy to find stocks trading at low PE ratios, with pretty decent ROIC’s when backing out excess cash. But a lot of them are value traps and their excess cash will never be paid out (if it even exists).
And if these stocks would be valued based on discounted cash flow that minority investors will receive, they can be quite expensive! READ MORE
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