Kyle Bass on China

Kyle Bass recently spoke with Bloomberg’s Erik Schatzker at the Milken Institute Global Conference. He discussed China’s economy and the global risks to financial markets. Bass is the founder and managing partner of Hayman Capital Management, a Dallas-based hedge fund focused on global event-driven opportunities. You can watch the full interview here. Some highlights below (paraphrased): Wealth […]

Portfolio Positioning & Updates

I generally don’t like to write posts like this one for good reason: I am not a professional investor nor a qualified financial advisor. Unfortunately for readers, the “have blog, will write” syndrome now compels me to share my frankly unsolicited opinions. The standard disclaimers still apply. Outlook & Positioning: I am increasingly uncomfortable with the market environment today. The macro picture […]

James Hay On BFM

The straight-talking James Hay, manager of the Pangolin Fund, was a recent guest on BFM (an independent radio station in Malaysia). He discussed his outlook for Malaysia, positioning of the fund and the rise of passive investing. You can listen to the full podcast here. Some highlights below: He struck a cautious tone overall. Said that more […]

Marc Faber On India, Emerging Markets

Marc Faber, editor of the “Gloom, Boom & Doom” report, recently shared his outlook on India and other emerging markets in an interview with ET NOW. You can watch the full interview clip here. Below are some highlights / takeaways: Majority of emerging markets have meaningfully underperfomed the US market since 2011. India, even after having “grossly […]

Apollo Asia Fund’s 1Q17 Report

A sober tone from Claire Barnes in her first quarter letter to investors. She writes that “more regional companies [are suffering] from capricious action by governments” and her impression is that these incidents are becoming more frequent. She cites recent examples in both India (a government ban on alcohol near highways) and Thailand (closure of Kingsgate’s Chatree gold mine). Last year, one […]

Matthews Asia: Outlook for Japanese Equities

Interesting piece published recently by Matthews Asia on their outlook for Japanese equities in 2017. Similar in tone to Peter Tasker’s (shorter) article on the brightening message from small cap Japan.  Some excerpts / highlights from the report, paraphrased: Number of structural factors supporting Japanese equities in 2017 Improved Purchasing Managers’ Indexes (PMI), accelerating wage growth and the Japanese government’s decision […]

Tim Moe Upgrades His China Call

Tim Moe, Goldman’s chief Asia-Pacific strategist, was on Bloomberg recently to discuss the firm’s outlook for the region and the Chinese markets. Some highlights below: Recent upgrade of China is in the context of the overall regional outlook Three key issues likely to be determining equity market performance over the next few quarters First, reflation dynamic is […]

FSS Asia Investor Update (Jan ’17)

First State Stewart (FSS) Asia is an independent investment management team within First State Investments. The team manages ~US$21bn across a range of Asia Pacific equity strategies on behalf of both institutional and wholesale clients. One of their fund offerings is the listed Scottish Oriental Smaller Companies Trust, which I have profiled previously. The group recently published a […]