Monday morning links

Deep-dive 2023-2, Frasers Centrepoint Trust

Frasers Centrepoint Trust’s shopping mall Serangoon Nex. Source: 99.co

($ = behind paywall)

• I published Deep-dive 2023-2, on a Korean niche software developer (🇰🇷 － >US$100 million) ($)

• Profit Hunting blog with a few comments on Singapore REIT Frasers Centrepoint Trust (🇸🇬 FCT SP－ >US$2.9 billion)

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(estimated reading time) ($ = behind paywall)

• My post on the implications of reduced face mask usage in Asia (19 mins) ($)

• I wrote a post debunking some of Peter Zeihan’s claims on China (7 mins)

• Adam Tooze on China’s real estate market (8 mins)

• Open Insights: Chinese oil demand will eventually push crude higher (4 mins)

• Arjun Murti on the record-high in the global demand for coal (11 mins)

• Zero Summation 2022 update on the tanker, dry bulk markets (9 mins)

• Packer & Co’s 4Q2022 letter: still heavy on cash and resources stocks (10 mins)

• OAM Asian Recovery Fund’s 2022 letter with the case for Asian equities (17 mins)

• Harris Kupperman: I just don’t know [what’s going to happen] (7 mins)

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(listening time)

• Jim Chanos thinks equity markets are getting speculative (22 mins)

• Yanzhong Huang on the rise and fall of China’s zero-COVID policy (28 mins)

• Shehzad Qazi of China Beige book on China’s reopening (45 mins)

• Michael Causton at Smartkarma on Japanese consumer stocks (44 mins)

• Jens Nordvig on what he perceives to be Japan’s debt crisis (49 mins)

• Philippine president Bongbong Marcos interview with Gideon Rachman (29 mins)

• Michael McGaughy talks about investing in frontier markets (38 mins)

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Ranges of historical valuation multiples: high for the US & Switzerland and low for EMs & Europe. Source: Goldman Sachs

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