Serious investment thinking that doesn’t take itself too seriously.
The capital allocators examine trends in the sector
There are a number of reasons for the current litany of gloom about China, but the actual state of the economy is way down the list. This is primarily because narrative and emotion dominate facts in the short- and medium-term. The narrative on China has undoubtedly taken on a powerful...
Originally published January 2021. A few months ago I came up with a simple way to categorise companies and their shares based on their most important attributes. For me, those...
There is a tendency to over-emphasise China at the expense of a full appreciation of the activities of other foreign actors, including entities from the European Union....
Originally published January 2021. Real estate distress cycles generally offer rich pickings to investors, but that’s unlikely to happen this time – and here’s why. This article...
Last week, I went to an airport. This was my first time since February 2020 – a period of over 500 days. I felt both excitement and trepidation at revisiting this once...
Could this provide a ‘Goldilocks’ scenario? Economic commentators and central bankers seem at last to be taking inflation risk seriously, rather than assume that current...
FTSE ST Real Estate Investment Trusts (FTSE ST REIT Index) increased slightly from 849.11 to 868.08 (2.23%) compared to the last monthly update. Currently the Singapore REIT...
Surfing a wave of institutional adoption... and liquidity. The best investments are often the least comfortable ones. This is certainly the case with our decision to add bitcoin...
The brasserie next to my office is a classic. A chalkboard shows the plats du jour. The waiters in crisp black waistcoats glide between tables. The corner terrasse catches the...
I love companies that can grow for decades. The best sort of growth reinforces the business model, which in turn makes future growth more likely. Network effects and economies of...