Monday morning links
Higher oil & wheat prices, Baiyunshan Pharma, Coupang and Korean prefs
Oil and wheat prices are going through the roof. A higher oil price will cause further upward pressure on consumer price inflation. A higher wheat price is likely to cause public unrest in poorer countries.
I spent the past week researching beverage producer and traditional Chinese medicine company Baiyunshan Pharma. I also wrote a special report on the universe of Korean preference shares.
($ = behind a paywall)
I wrote a report on Wanglaoji beverage producer and pharma company Baiyunshan Pharma (874 HK — US$7.3 billion) ($)
(Largest new programs as % of the market cap; min market cap: US$50m)
SG Co (11.1%) (255220 KS — US$74 million)
Morinaga Milk Industry (9.0%) (2264 JP — US$2.4 billion)
Morinaga & Co (5.2%) (2201 JP — US$1.8 billion)
Fujitec (4.0%) (6406 JP — US$2.1 billion)
Boutiques (3.9%) (9272 JP — US$90 million)
(Largest over past 7 days; min market cap: US$50m)
Xinyi Glass: US$34 million (868 HK — US$9.8 billion)
Fatima Fertilizer: US$2.1 million (FATIMA PA — US$470 million)
Greatec: US$0.7 million (GREATEC MK — US$1.1 billion)
Hextar Global: US$0.6 million (HAL MK — US$465 million)
Eastern Power: US$0.5 million (EP TB — US$164 million)
(estimated reading time) ($ = behind a paywall)
I wrote about the universe of Korean preference shares (13 mins) ($)
Francis Fukuyama on threats to the liberal world order (11 mins)
Fiona Hill on Putin and nuclear weapons (25 mins)
Open Insights: Higher wheat prices will have significant implications (5 mins)
The Curiosity Chronicle: A primer on SWIFT and economic sanctions (9 mins)
Goldman Sachs Global Macro Research: Russia risk (1:20 hours)
Goehring & Rozencwajg 4Q21: The distortions of cheap energy (1:17 hours)
An article in Institutional Investor questions supposed alpha from ESG (17 mins)
Berkshire Hathaway’s 2021 shareholder letter (28 mins)
Niall Ferguson on why the war in Ukraine is a game-changer (40 mins)
Geopolitical strategist Peter Zeihan on Ukraine (33 mins)
Marko Papic on geopolitical shocks (37 mins)
Jamie Catherwood discussing the history of bubbles (1:03 mins)
Jim Grant interviews Octavio Costa on his macro views (32 mins)
Sanctions expert Edoardo Saravalle on Bloomberg Odd Lots (1:04 mins)
Eric Mandelblatt discussing energy & material stocks (1:18 mins)
Skift podcast: Travel’s fallout from Russia-Ukraine war (13 mins)
Thanks for reading!
Sign up for over 20 deep-dive reports on Asian stocks per year, thematic reports and full disclosure of my personal portfolio.
Disclaimer: Asian Century Stocks uses information sources believed to be reliable, but their accuracy cannot be guaranteed. The information contained in this publication is not intended to constitute individual investment advice and is not designed to meet your personal financial situation. The opinions expressed in such publications are those of the publisher and are subject to change without notice. You are advised to discuss your investment options with your financial advisers, including whether any investment is suitable for your specific needs. From time to time, I may have positions in the securities covered in the articles on this website.