General Market Thoughts and the Case for Change at HUMM with Jeremy Raper

Jeremy Raper joins Andrew Walker on Yet Another Value Podcast to discuss his investment strategies and recent activities. Raper details his decision to stop writing his blog, explaining that while it initially aided his investment process by imposing discipline and building an intellectual track record, it eventually distorted his focus, pushing him towards larger, more liquid stocks instead of his preferred niche of misunderstood, deep value situations. The conversation shifts to investment opportunities in Japan, where Raper sees potential in smaller, regionally-based companies that are slow to adopt corporate governance reforms. He contrasts this with the UK market, which he finds statistically cheap but plagued by weak governance frameworks that allow for opportunistic management behavior. Finally, Raper discusses his involvement with HUM Group in Australia, where he is leading a board renewal effort to address what he views as mismanagement and misalignment driven by the chairman.