One trend I hadn't written about previously is Japan's massive wealth transfer coming from the rising needs around inheritance and a shift in consumer behaviour from saving to more investing.

It's estimated that close to ¥40trn in assets are inherited each year, and this is only growing as the population ages.

Wealth management is increasingly an important need as society shifts to a higher interest rate regime and as the government makes Active asset management a national priority. This includes Japan's NISA (a tax-free investment scheme)

My new long position is a tiny business that is riding this trend and potentially evolving into a much higher quality business.

Despite the size, the biz has an incredible client base and I believe they are well-positioned to benefit from several tailwinds. But in addition to that, I'm excited about their new business, which could be transformative.

At 10x P/E I don't think any of this is priced in. It's so overlooked even the yahoo discussion board is a ghost town.

I also like the fact that the business is consciously trying to focus on increasing recurring revenues, which should also help drive a re-rating.

The company is trading at it's lowest levels despite what I see as a bright future and multiple catalysts, where I am expecting 30%+ earnings growth for the next few years.

To me, this looked like Growth at Value prices.