This will be the last weekly highlight of 2024. Happy New Year, everyone!
Post of the week
I just published a post about Fairfax India (FIH/U CN － US$2.1 billion), the investment holding company Fairfax Financial uses to invest in India. It owns a diverse portfolio of assets, but its most important asset is a 59% (soon 69%) stake in Bangalore International Airport. Management has guided that the airport will seek a domestic listing sometime before September 2025. The position would then become marked-to-market. You can read the full story here.
Tweet of the week
I found this chart fascinating, showing how the tide has turned since 2020. 30-year bond yields tend to track nominal GDP, meaning that investors now expect China’s nominal growth to be lower than Japan's. Who would have guessed?
Podcast episode of the week
I enjoyed Jeff Towson’s podcast episode on Singapore-based online travel agent Trip.com (TCOM US － US$45 billion). The company began its life in Mainland China under the name of “Ctrip” but is now expanding across the region with great success. In the episode, Jeff argues that Trip.com is ahead of its global peers in employing user-generated content to attract new buyers to the platform. The daily active user number has apparently risen by +70% over the past year.
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Best regards,
Michael
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. Consult your financial adviser to understand whether any investment is suitable for your specific needs. I may, from time to time, have positions in the securities covered in the articles on this website. This is not a recommendation to buy or sell stocks.