恭喜發財! Wishing everyone good health, peace and prosperity for the Year of the Fire Horse. I have been spending more time with family and on other personal projects, so the frequency of writing has slowed quite a bit in recent months. I do hope to pick it up again in time and also undertake a […]

This week’s content links include Elliott’s presentation on Toyota Industries, Kalakau Avenue’s Q4 2025 investor letter (including a write up on CCC Intelligent Solutions), Django Davidson on a tale of two neighbours, the Jakarta Globe reports that Perminas is to take over Agincourt’s Martabe gold mine, Weijian Shan in conversation with the Asia Society on […]

Happy weekend! Some recent content links that I found interesting include Philip Coggan on what a Soros theory can tell us about the AI boom, the All-In Podcast’s wide ranging conversation with Treasury Secretary Scott Bessent, Wired on how Taiwan made cashless payments cute, the response of Taiwan’s central bank to recent articles by The […]

Happy holidays to all readers! Work has kept me rather busy over the last few months, which partly explains the lack of regular updates made to this blog. I am now looking forward to a short break and the chance to explore more of north Vietnam. I will sign off for the year with some […]

Happy weekend! I have not been blogging as regularly in recent months as there has just been a lot on my plate. Hopefully things will settle down a bit more towards the end of the year. I was also in Korea recently to attend an investment conference, where folks were mostly trying to figure out […]

This week’s content links include First Eagle’s Idanna Appio on where she sees value in Asia, Tim Clissold on how to narrow our knowledge gap on China, Christopher Vonheim’s wide-ranging conversation with Alexander Saverys of CMB.TECH, Bloomberg on how Weijian Shan went from hard labor to private equity pioneer, GS on the summer of stablecoins, […]

This week’s content links include Omar Malik’s speech on the capital cycle way, Edward Chancellor on the final phase of the debt supercycle, Gita Wirjawan’s conversation with Ashby Monk, Horizon Kinetics’ Q2 2025 commentary, Bloomberg on Dan Wang’s new book Breakneck and Kenneth Rogoff on the possible road ahead for the US dollar. Hosking Partners: […]

Happy weekend! This week’s content links include Paul Cavey on Japan’s economic evolution over the past 30 years, Packer & Co’s June 2025 report, East72’s write-up on CK Hutchison, Han Kim of Altos Ventures on thinking long term and backing breakout companies such as Roblox, Coupang, and Woowa Brothers, Django Davidson of Hosking Partners on […]

Back to regular programming this week after a brief and much-needed disconnect from markets. We were on holiday in June exploring some of Vietnam’s coastal cities. A personal highlight was a rare sighting of the endangered red-shanked doucs on the Son Tra Peninsula in Da Nang (video below). The Douc Langur Foundation has been working […]

May turned out to be a strong month for stocks. I am not sure what to make of the swift recovery, but FT columnist Rob Armstrong coined the term ‘Taco trade’ (Trump Always Chickens Out) to explain recent investor conditioning. Amusingly, Trump was then asked about this by a journalist and he really did not […]