Monday morning links

I wrote a report on how Hong Kong stocks: what investors are worried about and six companies that I find interesting.

Technical analyst Jason Goepfert made a comment that Chinese tech stocks have become among the most hated of any sector.

Significant insider buying for Fatima Fertilizer in Pakistan. The fertilizer market is in a bull phase right now, and the stock trades at 4x P/E and 7.5% dividend yield.

Surprising comment on Philippine shopping malls in Wickhams Hills’ latest under-the-radar report: “Foot traffic was back at pre-delta levels”.

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• Punch Card Investor released the fourth instalment on his deep-dive on Sea Ltd (SE US — US$172 billion)

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

1. Fujikura Composites (13%) (5121 JP — US$172 million)

2. Infroneer Holdings (9%) (5076 JP — US$2.6 billion)

3. Southern Concrete (8%) (SCP TB — US$50 million)

4. Japan Foundation Engineering (6%) (1914 JP — US$146 million)

5. Megachips (6%) (6875 JP — US$986 million)

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

1. Ancom: US$2.7 million (ANC MK — US$168 million)

2. Thoresen Thai Agencies: US$2.4 million (TTA TB — US$547 million)

3. Sabuy Technology: US$2.0 million (SABUY TB — US$525 million)

4. Zhongyu Gas: US$1.9 million (3633 HK — US$2.8 billion)

5. Fatima Fertilizer: US$1.1 million (FATIMA PA — US$400 million)

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

• I wrote a post on six contrarian bets in Hong Kong (19 mins) ($)

• Wickhams Hill’s under-the-radar report dated 16 November 2021 (17 mins)

• A recent Bridgewater piece discusses the ongoing inflation pressures (9 mins)

• RBC with a top-down view of the Japanese stock market (17 mins)

• Tech-focused Hayden Capital’s 3Q21 investor letter discusses SHEIN (27 mins)

• Bonsai Partner’s 3Q21 investor letter: is China investible? (20 mins)

• Thai Capitalist: how SET sub-sectors have performed (1 min)

• Main contenders for the Philippines 2022 presidential election (9 mins)

• A new book by a Japanese author on Softbank’s Masayoshi Son (326 pages)

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(listening time)

• Third Point’s Dan Loeb on his career and how he’s investing today (1:04 hours)

• George Magnus explains what China’s “common prosperity” means (31 mins)

• Little Red Podcast on Xi Jinping’s newly released “third resolution” (51 mins)

• Oil expert Daniel Yergin on the long-term energy transition (39 mins)

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