Muddy Waters Research have published a new short report called “The Farce Awakens: CIFS.” You can find a copy embedded below or download it via their website. The company in focus this time is NASDAQ-listed China Internet Nationwide Financial Services Inc. (CIFS), which Muddy Waters calls an “old style China fraud.” According to their website, […]
Author: offpisteblog
Readings For The Week (17/12)
This week’s readings / links include David Webb on bitcoin, Benedict Evans on what’s likely to happen in tech over the next decade, a new report on Southeast Asia by Google and Temasek, an interview with Stanley Druckenmiller and a profile of Jim Simons. The world’s first decentralised Ponzi scheme: David Webb on bitcoin. Ten year […]
Readings For The Week (10/12)
This week’s readings / links include a look at the nascent organic cosmetics industry in Mongolia, recent trends in the ride-sharing space in Southeast Asia, a conversation with the team at Verdad Capital, an interview with fund manager Neil Woodford and how a proposed law is stoking the worst fears of India’s bank depositors. Mongolian […]
Readings For The Week (3/12)
This week’s readings / links include Jim O’Neill on the abnormality of oil, the NYT on how a generation in Japan faces a lonely death, Glenn Solomon on why multi-cloud is the next big thing in technology, Yves Smith on a new paper that confirms a long-standing criticism of private equity and a look at […]
Kevin Martelli: A Perspective on Value Investing
Kevin Martelli, the founder of Martek Partners, has published an interesting presentation on value investing (document embedded below). The first section covers his thoughts on private equity vs. value investing in the context of a career in finance. The second section is a retrospective analysis of multi-bagger stocks (>10x in the last 15 years) through […]
The Robert Kuok Memoirs (SCMP)
The SCMP has published six extracts from the first-ever memoir of Malaysian entrepreneur Robert Kuok. They are worth a read – Simon Murray, the former chairman of Glencore, once called Kuok the best China watcher in the business. For those interested, you can purchase a copy of the book via MPH Online (link here). For […]
IVA Increases APT Satellite Stake
International Value Advisers, LLC (IVA) recently increased their stake in HK-listed APT Satellite Holdings Limited (APT Satellite). According to a filing submitted to the Hong Kong Stock Exchange on November 20th, 2017, the firm bought 4,428,500 shares on the exchange at an average price of HKD 3.61 per share on November 15th (total consideration was […]
Alibaba Buys Stake in Sun Art
Alibaba subsidiary Taobao China Holding Limited (Taobao) has agreed to buy an aggregate direct and indirect 36.2% stake in Sun Art Retail Group (Sun Art) for ~U$2.9bn. Taobao may also make a mandatory unconditional cash offer for the remaining shares it does not own. Details of the stake purchases below: Taobao purchased a direct 26% […]
Readings For The Week (26/11)
This week’s readings / links include Kerr Neilson on the rise of Asia, a conversation with Chamath Palihapitiya, lessons from successful corporate turnarounds, Michael Dobbs-Higginson on his life of adventure and Lee Jong-Hwa on income inequality in Asia. The rise of Asia: Kerr Neilson’s latest journal entry. Interview with Chamath Palihapitiya: The founder and CEO […]
Readings For The Week (19/11)
This week’s readings / links include an update on Oasis Management’s investment in Pasona, a look at the political situation in Cambodia, a conversation with David Swensen, how Bill Browder became an enemy of the Russian state and an interview with Dr. William Rees. Hong Kong-based activist fund ups pressure on Japan’s Pasona: Oasis Management […]