WFF

I was actually thinking the same thing too. It is actually quite rare to see a westerner being so pro China. My two cents as an ABC who has lived in China and the US (also in SEA), media biases is rampant. No one system is better than another. I have had discussions with people that privately question whether democracy really a good thing? Should everyone really have a vote, because a lot of people can’t be hold accountable for their vote. At the same time in China, the bias against the Japanese is also overblown. A lot Chinese executives are using Japan as a case study to learn and adapt. For example both society have a strong Confucius culture, focus on education, high savings, etc. They are in awe at times. Li Lu in his book summed it up quite well regarding biases (TLDR : Civilization formation paths). I like China and I like the US, I don’t think it has to be winner and losers and they can both win. Though, a lot of negativity is because the current free trade situation did not result in win-win, but win-lose. Robert Koo explains it, which really challenges a lot of shortcuts (ie. free trade is good), that has given me food for thought on a lot of trained beliefs. Anyway not trying to start a debate or discuss politics. Just want to share my two cents.

For those that haven’t had a chance, reading Li Lu’s book titled “Civilization, Modernization, China and Value Investing” is worthwhile. I read the Chinese version, not sure if an English translation is available. It is structured like Poor Charlie’s Almanac, so you can read one chapter at a time. And lots to think after each section. Lots of nuggets, I remember a section is on the misunderstanding of the east from the west and vice versa. The book critique of Richard Koo’s book “The other half of macroeconomics and the fate of globalization” on Japan and the 4 phases was also quite interesting (it tried to explain QE’s limited impact on inflation) and what governments should be doing.

Thanks for the info! Haven’t don’t much research on it, though I remember CPNG reach out for an opportunity before the IPO. Wasn’t interested in moving so didn’t research. Might be with some time to look into.

Was thinking about whether you added on CPNG given the down day. Looks like you are sizing this quite sizably. Time to read up the thread

Plus there was rumors that he was supposed to run the investment portfolio at Berkshire (prior to T&T), not sure why it didn’t materialized. But it would be nice if he is more involved someway.

OXY, sold off after buying it earlier in the mid 50s.

Added to OXY and 1658.HK

Bought some OXY, am guessing Berkshire will buy and push it back up. Might as well make a few bucks from Mr. Market’s emotion.

Looks like Berkshire exited Paytm position in India, taking an estimated 40% loss. I think this was a Todd position.

Looks like an awesome set of hotpot! Happy Thanksgiving to all! Thanks for all the bantering/insights/ideas/etc.

Sold a portion of my BAC for tax harvesting and put it in EWBC.

Perhaps the torch will be pass to Todd and Ted? It will be interesting to hear from them. I quite enjoy Li Lu though he gives limited materials. The day will come, but hopefully not too soon. I name my new born Charlie, and my eldest Warren. Would love to bring them to meet the legends and understand why Daddy is so thankful for the duo. Now I am sad…

Pick up some PSBC in HK at the close today.

More BAC

Added BAC. The deposits at BAC should be quite sticky, and if the events at Silicon Valley Bank and Silvergate scares people, I would venture a flight to safety towards the big banks like JPM, BAC and WFC will occur. If we starts to see it spreading, and impacting the big banks (too big to fail anyone?) I would venture the government will step in like it always do.

Sold out of INDT

Got out of ATVI and added to PCYO and swapped my OXY shares to INDT

Added a tad of INDT and PCYO.

I am up for 2022, high single digits after tax or low double digits before tax. Most of my investments were flat (PSBC, BAC, etc), the profits mainly came from the @Gregmal ETF of APTS, AIV, PCYO and JOE. Thanks Bud!

BAC, buying back the shares after the wash sale windows expires and added a little.

More JOE

1658.hk PSBC, thank you discounting it further Mr. Market.

Bought more 1658.HK PSBC.

1658.HK reinvested my dividends

Added to 1658.HK PSBC. If it keeps dropping, it is on track to be my largest position.