My first webinar planned for Sunday 23 January at 22:30 Singapore / Hong Kong / Beijing time.
Topic: How to identify fraud using financial statements.
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Michael Fritzell (Asian Century Stocks)
@Fritz844
I write about Asian value stocks on Substack. Not investment advice. Follow me 
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Hoping there'd be a way to get people to become paid subscribers without too much friction. Perhaps there are better ways?
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Jump on the monetisation bandwagon with paywalls halfway down the post?
When you make a selection it cannot be changed
Go for it
Please, no
73 votes21 hours left
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Some life in DELFI SP as well after the controlling shareholder bought 2.4 million additional shares
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Not what you'd like to see for a P/E 31x stock
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For all the SOTP lovers out there
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Nice overview of holdings from a Belgian newspaper.
Dividend yield to the right.
which ones do you own ? I CK hutch and First Pacific. Fondul Proprietaria has a high yield, need to check it out. Gimv also pretty high.
Ackermans is high quality.
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ROIC persistence over time
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The greater the distribution, the less you should pay attention to P/E ratios...
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ROIC distribution by sector
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ROIC distribution by country
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I feel old ha. What exactly am I looking at here?
A major VTuber from Japan.
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To buy Taiwanese stocks, set up an account with Boom Securities in Hong Kong or Monex in Japan or Australia. Their platform lets you invest across most Asian countries with a decent online trading user interface.
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Full disclosure, I am a shareholder. I'm not saying the stock will go up... DYODD etc etc.
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10 min video on corporate strategy with Felix Oberholzer-Gee... worth a watch
Willingness to pay determined by:
1. Product Quality
2. Complements
3. Network effects
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Great chart
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You can access many EM stocks directly with NYSE, LSE, SGX or FRA stock exchanges. Here are the main links I know.
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CNOOC has finally woken up
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To buy Taiwanese stocks, set up an account with Boom Securities in Hong Kong or Monex in Japan or Australia. Their platform lets you invest across most Asian countries with a decent online trading user interface.
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The first Substack post ever on Taiwanese small caps?
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Philippines posts strongest growth since 1976 at 7.2%…. Recession anyone?
Holding a selection of local equities.
bloomberg.com/news/articles/
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New ADB Outlook is out.
Interesting to see SE Asian countries like Philippines or Cambodia expected to see 6%+ GDP growth with LSD inflation.
adb.org/sites/default/
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Michael Burry is one of the most popular value investors in the game.
He's a contrarian that buys odd-ball, roadkill stocks that others don't.
I dissected his seven write-ups from Value Investors Club to see how he analyzed stocks.
A thread on the five lessons I learned ... 🧵
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This, on the other hand, feels like a quintessential Korean website
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Kinokuniya sentiment check: the crypto books are almost all gone
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Every Taiwanese corporate website
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This account deserves to have 5,000+ followers. #FF
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Many Hidden champions in Japan = global top manufacturing companies serving a market niche
Examples: #Hamamatsu Photonics ; #ushio inc; #mabuchi Motors; #nissha; #nippon chemicon to name just a few.
Many undervalued! Sea of opportunity!
#valueinvesting #japan
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He's spot on about Youngme Moon's book "Different". Totally underrated.
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"Thought-provoking. First time I heard of the concept willingness to sell".
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"The best leaders I’ve studied ... recognize and embrace the obligation to dissent."
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Our research involved speaking with dozens of individuals, including former executives of Adani, reviewing thousands of documents, and conducting diligence site visits in almost half a dozen countries. (4/x)
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Excellent read!
China's EV subsidies are going to zero, by
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Shakira’s Viral Revenge Breakup Song Earns Casio $70M in Media Exposure $CSIOF $6952.JP
wwd.com/pop-culture/ce
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When Hans Wilsdorf had just started Rolex, he faced the same problem. Customers weren't convinced his wristwatches were durable.
So he set up a third-party testing system (similar to today's COSC) that served as a costly signal to customers that his watches were indeed durable.
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To all the software developers out there: can someone create an Amazon-style review system for Substacks?
Right now, people have no idea which Substacks are high-quality or not. You can ask me, but review scores with large sample sizes are even better.
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My conclusion is basically that you'll want to avoid decisions by committee. And if you do use such committees, you'll need someone to challenge the status quo and majority opinion - a troublemaker like juror #8.
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Juror #12 (Robert Webber): Vanity
Never making up his mind and cares a lot about his appearance. Makes a joke out of everything, betraying deep insecurity. Ends up siding with the majority in all cases.
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Juror #11 (George Voskovec): Lack of authority
Disciplined, respectful and intelligent. Believes in the democratic process and jury duty. He himself does the right things, but is not taken seriously because of his immigrant status.
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Juror #10 (Ed Begley): Stereotype bias
Classifies people into their representative groups, with prejudices about each groups. Thinks the boy should be charged with murder based on the fact that "those kids are all the same".
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Juror #9 (Joseph Sweeny): Sample size of 1
Believes in justice and sympathy. But assumes that his personal experience can be extrapolated, even though it is his own with a sample size of 1.
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Juror #8 (Henry Fonda): Fear of making a mistake
The person who's willing to stand up against a crowd but also has a lack of conviction. Generally does his best to bring about justice, but also gets second thoughts when realises that the boy's destiny is in his own hands.
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Juror #7 (Jack Warden): Lack of interest
Wants the case to get done as quickly as possible so that he gets to go to his game. Says whatever is needed so that he can go home. Also displays sunk cost when it comes to his baseball tickets.
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