SoftBank Group reports surprise third-quarter ¥783 bil loss

SoftBank Group reports surprise third-quarter ¥783 bil loss

Why surprise, tech industries has been down and laying off people. Softbank has significant portion from tech industries, so when they'll effect Softbank.

https://www.cnbc.com/2023/02/07/softbank-vision-fund-posts-another-quarterly-loss-as-tech-slump-bites.html

What happened to Masa's magic touch? Remember when he said he can make a smart investment decision by merely looking into a person's eyes? LOL.

Another media report noted how vulnerable SB has become given its high degree leverage amid rising interest rates.

I bet the Saudis are fuming right now!

I would never go back to SoftBank!

Terrible service and fees!

They needed a wider portfolio. The West's sanctions on Russian energy saw the fossil sector bank huge profits from inflated prices. Buying into fossils would have offset losses from deglobalisation and general inflation.

Buying fossil stocks does not increase emissions. The artificial hiking of prices and shortages from a crimped supply saw reduced use as people could not afford to pay their energy bills. High fossil profits - almost a fossil bubble, lower usage and fewer emissions went together. Looking ahead, increasing energy bills and reduced supply may further reduce emissions but still increase industry profits.

Governments (Western and China) may block much tech innovation, so tech stocks may be in for a rough ride. Increasing regional conflicts look likely and most regimes are spending a lot more on weaponry, so the arms sector looks like a good bet.

Masayoshi Son is a gambler!

What goes up....

I left SoftBank because they had intentionally made the phone internet connection slow after a few days at the beginning of the month when in fact, I had an unlimited internet connection agreement. The purpose of this is for the customer to buy cellular data. What goes around comes around.

SoftBank use to be a strong player offering WiFi and internet connectivity, however with their investment side of the business, they poured a lot of money into bad companies over the years and hence forth, arrogance and a failure to be able to see trends is what you are seeing now with large losses at the bank.

"We could make a lot of money if we knew when (share prices) will recover, but honestly, we don't know," Goto said.

Of course, I guess everybody would do the same, it is called the crystal ball strategy LOL

He just was too rich and invested into everything available. But it’s simple math and probability calculation, that this can’t work in the most cases. If you invest into 100 start-up companies, 90 percent close soon after, happily walking into bankruptcy with all your your given money taken, next 8 make it a few months or if lucky some years but without any profits , only costing even more and more, and finally 1 or 2 are the ones you intentionally wanted to invest into for generating innovation, nice products or services and of course very big profits so that you eventually can cover the 98 lost investments and have even a little remainder for all your investing stress and support. The problem is, you don’t know beforehand which 2 of the hundred of those big odd gambles are or will turn out to be successful anyone day in later future.

This is the WORST Japanese company by a far margin. They scummy mobile phone contracts and practices are legendary. Wish them happy bankruptcy!

They really took it on the nose!!

Gonna have to stop buying other teams best baseball players

Their venture capital arm has invested (& lost) heavily on some real donkeys