Group 1: Investment Strategy - Warren Buffett plans to hold eight stocks "indefinitely" and has recently increased his stakes in six of these companies [1][5] - Berkshire Hathaway's portfolio is valued at $285 billion, and Buffett is constantly looking for good deals within this portfolio [4][6] Group 2: Key Holdings - Two of the indefinite holdings are Coca-Cola and American Express, which have been held since 1988 and 1991 respectively [6][7] - Buffett has added to his position in Occidental Petroleum, spending approximately $35.7 million to acquire over 763,000 additional shares [9] Group 3: Oil Market Insights - Buffett's significant investment in Occidental Petroleum, totaling $12.7 billion in common stock and over $8 billion in preferred stock, indicates confidence in the stability or increase of crude oil prices [10] - The bullish outlook for oil is attributed to reduced capital spending during the COVID-19 pandemic, making it challenging to ramp up production to meet rising demand [11] Group 4: Japanese Trading Houses - Buffett has identified five Japanese trading houses—Mitsubishi, Itochu, Mitsui, Sumitomo, and Marubeni—as indefinite holdings, increasing stakes in all by more than one percentage point [14][15] - These trading houses are integral to Japan's economy, involved in diverse sectors such as energy, food resources, and healthcare, which mitigates risks from industry-specific downturns [16][17] Group 5: Valuation and Market Conditions - The current stock market is considered historically expensive, with the S&P 500's Shiller P/E ratio at 35.28, significantly above its 154-year average of 17.22 [19] - In contrast, the trailing-12-month P/E ratios for the Japanese trading houses range from 9 to 12, presenting attractive valuation opportunities amid a pricey market [20]

Core Insights - Mitsui & Co. is one of the five major Japanese trading companies that attracted Warren Buffett's attention in July 2019 [1] Company Overview - Mitsui & Co. operates in various sectors, including energy, and has a long history of involvement in trading and investment activities [1] - The company has been recognized for its ability to manage a diversified portfolio and generate returns that align with market benchmarks [1] Investment Strategy - The investment approach focuses on long-term holdings, aiming to maximize total returns by purchasing assets when they are undervalued relative to their intrinsic value [1]