Monday morning links

Personal reflections over the past week:


  • Punch Card Investor with a part 3 of its Sea Limited deep-dive (NYSE: SE — US$198 billion)

  • Investor Insights Asia’s overview of troubled real estate developer China Evergrande (SEHK: 3333 — US$3.9 billion)


(Largest new programs as % of market cap; min market cap: US$50m)

  1. Hokkaido Coca-Cola Bottling (7%) (TSE: 2573 — US$278 million)

  2. Inpex (5%) (TSE: 1605 — US$12.5 billion)

  3. Unizyx (5%) (TWSE: 3704 — US$522 million)

  4. Global Lighting Tech (4%) (TWSE: 4935 — US$390 million)

  5. Alfresa Holdings (4%) (TSE: 2784 — US$3.5 billion)


(Largest over past 7 days; min market cap: US$50m)

  1. Xinyi Glass: US$2.1 million (HKSE: 868 — US$10.5 billion)

  2. Guangzhou R&F: US$1.5 million (HKSE: 2777 — US$2.1 billion)

  3. Digital China: US$830k (HKSE: 861 — US$899 million)

  4. China SCE Group: US$780k (HKSE: 1966 — US$1.2 billion)

  5. Chin Hin Group: US$760k (KLSE: CHIN — US$400 million)


(estimated reading time) ($ = behind a paywall)


(listening time)

  • Ed Chancellor: Japanese stocks will outperform as returns on equity rise (7 mins)

  • Michael Kass of Baron Emerging Markets Fund thinks emerging markets will start to outperform (27 mins)

  • Oaktree Capital discussing inflation and the Chinese property market in their 3Q21 credit quarterly (17 mins)

  • South Korea’s Petra Capital discussing the peculiarities of investing in Korea (1:34 hours)

  • Beeneet Kothari of NYC-based technology fund Tekne Capital is bullish on Chinese stocks and cryptocurrencies (47 mins)

  • I had a chat with the Friendly Bear podcast on how short-sellers might want to approach Asian equity markets (1:02 hours)

  • Pratyush Rastogi of Singapore-based tech investor Farrer Wealth Advisors on writing and investing (51 mins)

  • Australia’s Forager Funds Management’s Steve Johnson discussing stocks he thinks are undervalued (15 mins)

  • Former GaveKal analyst Chen Long discussing China’s economy (37 mins)

  • Pinecone Macro’s Chase Taylor discussing energy markets on the “China of Tomorrow” podcast (36 mins)


Housing vacancy rates by Chinese city


Thanks for reading, and I wish you a great week ahead!

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