This week’s readings include a conversation with Seth Fischer of Oasis Capital Management, short interviews with three of Asia’s leading hoteliers, a look at the decades-long quest to bring down Bloomberg, thoughts on the recent ousting of Nawaz Sharif and an opinion piece on how Hong Kong and China are forging a new innovation economy. […]
Month: July 2017
Barron’s Interview With James Montier (GMO)
Interesting interview with James Montier in this week’s issue of Barron’s. Montier is a member of the GMO’s Asset Allocation team. Prior to GMO, he was co-head of Global Strategy at Société Générale. Some excerpts / highlights below: On being a value investor in the current environment: “The U.S. has been an incredibly strong market […]
Howard Marks: There They Go Again…Again
Howard Marks, the chairman of Oaktree Capital Management, has published his latest memo to clients of the firm. In the note, Marks writes that “this is a time for caution” and recommends clients move into lower-risk investments due to “lofty” market valuations. He also shared his view on digital currencies, saying they are “nothing but […]
GMO Adds To China Machinery Engineering
Grantham, Mayo, Van Otterloo & Co. LLC (GMO) recently added to its stake in HK-listed China Machinery Engineering Corporation (CMEC). According to a filing submitted to the Hong Kong Stock Exchange on July 18th, 2017, the firm bought 2,780,000 shares on the exchange on July 14th at an average price of HKD 5.574 per share […]
British Empire Trust’s June Newsletter
British Empire Trust (British Empire) recently published their June 2017 letter, which is available for download from their website. The company is a closed-end investment trust with shares listed on the London Stock Exchange. It is managed by Asset Value Investors Limited. As per their website, the trust’s investment objective is to achieve the creation […]
Readings For The Week (23/7)
A longer than usual reading list this week. Enjoy! Why did all the 7-Elevens in Jakarta suddenly disappear?: Competition, regulations and a sluggish economy created a perfect storm that the convenience-store chain could not withstand. Interview with Nicholas Cator: Verlinvest Asia’s executive director on why India remains a key geography for his firm. In urban China, […]
Waverton Southeast Asian Fund: June Update
Waverton Southeast Asian Fund recently published their June 2017 letter, which is available for download from their website. The fund’s investment objective is to generate capital growth by investing in a concentrated portfolio of no more than 30 listed Southeast Asian equities. They look, in particular, for growth companies at a reasonable price. The fund was […]
Lazard Trims Stake In First Pacific
Lazard Asset Management LLC (Lazard) recently reduced their stake in HK-listed First Pacific Company Limited (First Pacific). According to a filing submitted to the Hong Kong Stock Exchange on July 19th, 2017, the firm sold 496,000 shares on the exchange at an average price of HKD 5.78 per share on July 13th (total consideration was […]
Marathon Raises Stake In Esprit
Marathon Asset Management LLP (Marathon) recently added to its stake in HK-listed Esprit Holdings (Esprit). According to a filing submitted to the Hong Kong Stock Exchange on July 17th, 2017, the firm bought 3,708,800 shares on the exchange on July 14th at an average price of HKD 4.2731 per share (the total consideration was ~US$2.03m). Following the purchase, Marathon’s stake in […]
Kerr Neilson: A Matrix Of Facts Vs. Feelings
Kerr Neilson, the CEO & managing director of Platinum Asset Management, recently published an excellent piece titled “Facts, Feelings and the Importance of Composition.” The article is available on the company’s website (link here, highly recommended). Neilson writes about the importance of checking whether your “feelings” are backed by facts when investing. He also ask […]