Monday morning links
Monday morning links
A Hong Kong-based conglomerate and Bengaluru Airport
I spent the past week researching Hong Kong-based conglomerate CK Hutchison. The company is well run, generates cash flows and trades at a record discount to NAV. While its founder Li Ka-Shing is in the crosshairs of Beijing, the company has limited exposure to China.
The Manual of Ideas’ Best Ideas 2022 conference is a treasure trove of stock-related discussions. Check out Jeffrey Stacey’s case for Fairfax India, which is listed in Canada and owns assets such as Bengaluru Airport.
I wrote about HK conglomerate CK Hutchison (1 HK — US$27 billion)
New Vila Equity Research on broken merger arb special situation First Service Holding Limited (2107 HK — US$91 million)
ValueTeddy on Korean game developer Gravity (GRVY US — US$461 million)
(estimated reading time)
I wrote a guide to the online resources available for investors in the region, including podcasts, research websites, analytics, etc. (7 mins)
The Manual of Ideas Global: Best ideas 2022 (20 mins)
Graham Rhodes: Why invest in China? And thoughts on Tencent (registration required; 15 mins)
GMO believes that Japanese equities are attractive (11 mins)
Blitz Finance with a list of net-nets in Japan and elsewhere (1 min)
A neat introduction to thrift conversions (7 mins)
VOX on the aftermath of the 1990s Beanie Baby bubble (22 mins)
Journalist Murray Hunter believes the economic outlook for Thailand in 2022 is bleak (for what it’s worth - I disagree) (8 mins)
Asianometry provides a look into the competition between Taiwanese foundry TSMC and its mainland competitor SMIC (10 mins)
The IMF blog warns about the impact on EM portfolio flows from Fed tightening (5 mins)
(listening time)
Jim Leitner is back on The Market Huddle (2:48 hours)
Pratyush Rastogi on Singaporean ride-hailing company Grab (44 mins)
Journalist Gearoid Reidy on a surge in Omicron cases in Japan (28 mins)
MERICS podcast on Chinese SOEs role in the Common Prosperity campaign (27 mins)
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