Subject: Re: Buffett’s Japanese investment
Just a reminder to everyone that it makes no difference at all to your returns where you buy a stock, where the exchange is, what currency it is quoted in, or what currency you use to pay for it. There are lots of currency concerns for many companies in their operations, but the only thing that matters to you and that you can control is what currency you choose to hold your cash/debt balance(s). Borrowing in a different currency to fund a stock purchase is important to your returns because you then have a non-zero cash balance in that currency.

That's in terms of currency movement. You might of course have a different jurisdiction risk if a given country or exchange does something weird, so in that sense the exchange you choose might matter.

Jim