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WFF

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    China

    in General Discussion

    Posted

    On 4/10/2024 at 11:38 PM, Sweet said:

    Apologies for mis-ID’ing you.  Thought you were Chinese.

    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.  

    China

    in General Discussion

    Posted · Edited by WFF
    Formatting issue

    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.  

    What are you buying today?

    in General Discussion

    Posted

    7 hours ago, Saluki said:

     

    CPNG a 2.5% position currently, and I wouldn't mind taking it to 3 or 4 at the right price.  NTDOY is just under 3% and ATEX is 1% now and I'm taking it to 2%.  I'm trying not to touch my biggest positions BRK (20%) GOOG (~20%) JOE (~15%) and FRFHF (10%).  

     

    I don't discuss the bigger positions as much as the smaller positions because I've already done all the research and decided to hold them for a long time, so there is nothing to discuss. 

     

    I think it boils down to what is your circle of competence and risk aversion.  I like CPNG a lot, but I hate retail, so I don't know if I would ever go over a 5% initial position on it. I've held BRK and GOOG for over a decade so I wouldn't mind adding more even if they are big positions already.  ATEX (telecom) and JOE (florida real estate) might be in the too hard bucket for some people, but they aren't in mine. Other favorites on here have made people a lot of money, but are in my too hard bucket and always will be.  It would take years for me to learn about pharmaceuticals or biotech starting from scratch, but people can get rich on lots of things, so as my coach used to say "this isn't gymnastics, no one gives you extra points for doing things the hard way." 

    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.  

    What are you buying today?

    in General Discussion

    Posted

    9 minutes ago, Saluki said:

    Sold a few very small positions that I had, which I usually buy to remind me to look deeper into a company, and made some small adds to CPNG, NTDOY and ATEX.  

     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

    I'm Sad!

    in Berkshire Hathaway

    Posted

    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…

    What are you buying today?

    in General Discussion

    Posted

    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.   

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