Links July 2024

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Over the past month on Asian Century Stocks, I’ve published personal travel notes from Tokyo ($), a review of Trevor Sykes’ book Mining for Money, a portfolio review for June 2024 ($) and two deep-dives on Fu Shou Yuan ($) and Pacific Textiles ($). Check them out!

And now, a series of investment-related links that I think you’ll enjoy:

• Moatless Musings on Kweichou Moutai (🇨🇳 600519 CH - US$264 billion)
• Sweet Stocks on petrol station operator Viva Energy (🇦🇺 VEA AU - US$3.2 billion)
• Robin’s Substack on furniture retailer Nick Scali (🇦🇺 NCK AU - US$824 million)
• Koneko on wealth manager Noah Holdings (🇨🇳 NOAH US - US$478 million)
• Altay Capital on the recent buyback in Sohu (🇨🇳 SOHU US - US$443 million)
• The Compound & Fire Substack on ZIGExN (🇯🇵 3679 JP - US$397 million)
• Quercus Fund on Tianjin Development (🇨🇳 882 HK - US$254 million)
• Dirtcheapstocks on software developer Azeus (🇸🇬 AZEUS SP - US$225 million)
• Blogger Myles Kuah on International Cement Group (🇸🇬 ICG SP - US$86 million)
• Bargain Stocks Radar on San Miguel Brewery HK (🇭🇰 236 HK - US$53 million)
• Walnut’s Substack on PharmX Technologies (🇦🇺 PHX AU - US$22 million)

(estimated reading time)

• A deck of ideas from the Weird Shit Investing 2024 Conference (59 pages)
• Harding Loevner EM Equity Fund’s 1Q2024 letter on HDFC Life etc (12 pages)
• Packer & Co’s 2Q2024 letter on CNOOC, Chinese car exports, etc (6 pages)
• Fascinating travel notes from Asia Frontier Capital in Turkmenistan (16 mins)
• Pyramids and Pagodas travel notes from Manila: Part 1 & Part 2 (20 mins)
• Leonid Mironov with some thoughts on the Chinese economy in 2024 (17 mins)
• Argyle Street’s Kin Chan: Hong Kong is far from over (10 mins)
• Koneko Research on cap rates for listed HK property landlords (7 mins)
• Ross & Van Compernolle on opportunities in ASEAN oil & gas (6 mins)
• Asian Century Stocks: updated resources for Asia-focused investors (1 min)

(listening time)

• Evan Tindell on his approach to value investing, including in Japan (1:23 hours)
• John Haskell on Vietnam real estate, Hong Kong-listed ESR Group (1:03 hours)
• Dan Rupp of Parkway Capital on Haier Smart Home’s D-share (53 mins)
• Fraser Christie of TDM Growth Partners on Mineral Resources (52 mins)
• Jefferies’ Chris Wood making the case for Indian equities (48 mins)
• Fidelity’s Gary Monaghan is bullish on TSMC, FPT and HDFC (42 mins)
• Artisan Partners’ David Samra on where he’s finding value globally (35 mins)
• Anne Stevenson-Yang on China’s economic position globally (27 mins)
• Jonathan Shih of HK’s Key Rock Capital on his career, Japanese stocks (23 mins)

My favorite write-ups this month include: