Discover more from Asian Century Stocks
Monday morning links
VTech, Chang'an Automobile, Value Partners, Nihon Falcom
Yesterday’s Asian Century Stocks report was on Hong Kong electronics manufacturer VTech, which produces toys and other electronic products. Earnings have come down due to high container shipping costs, high resign prices and shortages of semiconductors. The 2023 consensus P/E is 7.4x with a dividend yield of 13.2%.
I also want to highlight Mokapu Capital’s post below on Japanese micro-cap video game developer Nihon Falcom, which owns a number of key video game franchises. The stock trades at 12x P/E, with net cash representing 62% of the market cap.
($ = behind a paywall)
I wrote about Hong Kong electronics manufacturer VTech (🇭🇰 303 HK－ US$1.4 billion) ($)
Investor Insights Asia on Chang’an Automobile (🇨🇳 A-share: 000625 CH, B-share: 200625 CH－ US$15 billion)
Plain and Simple Ideas blog on Hong Kong asset manager Value Partners (🇭🇰 806 HK－ US$438 million)
Mokapu Capital on video gamer developer Nihon Falcom (🇯🇵 3723 JP－ US$85 million)
(estimated reading time)
Scott Grannis provides an optimistic take on Fed policy, the US economy (5 mins)
Gerard Minack thinks a rally is coming after the final rate hike, followed by a recession and, eventually, a final bear market (6 mins)
Undervaluedjapan: history of how the Yakuza became involved in AGMs (4 mins)
Pangolin Investment Management’s September 2022 letter (8 mins)
Apollo Investment’s 3Q2022 letter on Giordano, Ukraine and COVID (5 mins)
Paul Tudor-Jones is preparing for a “recession playbook” (5 mins)
Boaz Weinstein sees value in some junk bonds and corporate CDS (28 mins)
David Einhorn expresses bullishness about energy and materials stocks (11 mins)
Louis-Vincent Gave provides the case for emerging markets (39 mins)
Dan Wang on the CCP’s party congress that took place on 16 October (52 mins)
Daniel Yergin on how the oil market is affected by the war in Ukraine (1:00 hour)
Jim Rogers on inflation, commodities and the coming recession (54 mins)
Jon Y from Asianometry discusses TSMC and the global chip shortage (47 mins)
Thank you for reading!
Sign up for over 20 deep-dive reports on Asian value stocks per year 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.