‘Why we sold Softbank’: Value investing expert explains why he killed Buddha
Softbank has been one of Japan's global success stories. Masayoshi Son is believed to be Japan's second-richest man and is also on the Forbes list of the world's top 50 billionaires. He has amassed his wealth by investing astutely in growth businesses. Softbank is Son's main vehicle for growing wealth. Forbes notes that the mobile telecom and investment firm had $81bn in 2017 revenue. But, Son's reputation has come under scrutiny after a massive bet on WeWork, which it overvalued by tens of billions of US dollars, backfired. As The New York Times reports this week, Softbank Group took a nearly $4.6bn financial hit from its investment in WeWork. Vitaliy Katsenelson, author of investment books and investment expert who follows the stock analysis principles of Benjamin Graham and Warren Buffett, explains why he has dumped Softbank. – Jackie Cameron
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