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Hard Questions Remain on BlackBerry’s Turnaround

Hard Questions Remain on BlackBerry’s Turnaround

DAN GALLAGHER

June 19, 2014 2:54 p.m. ET

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BlackBerry BB.T +9.33% may no longer be doomed, but what it will look like in a year remains up in the air.

BlackBerry wants to shed its dependence on selling smartphones in favor of software and services mainly for enterprises to manage their fleets of mobile devices. Thursday’s quarterly results offered several encouraging signs for this effort. Adjusting for one-time items, BlackBerry’s loss of 11 cents a share was less than half what analysts expected. And service revenue came in 9% above Wall Street’s estimates. The stock duly jumped on Thursday. Read more of this post

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Foreign Investors Flock to Taiwan Tech; Surge of Overseas Cash Sends Stock Index to Highest Level Since 2007

Foreign Investors Flock to Taiwan Tech

Surge of Overseas Cash Sends Stock Index to Highest Level Since 2007

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ARIES POON and FANNY LIU

June 19, 2014 4:34 a.m. ET

TAIPEI—A surge of cash into Taiwan has sent stocks to their highest level since 2007, as enthusiasm grows over the island’s technology companies. Read more of this post

The tightrope China’s biggest business tycoon must walk; Can you be Maoist and ultra-capitalist at the same time? Yes, you can. The embodiment of this ultimate contradiction is Ren Zhengfei, the legendary founder of Huawei

The tightrope China’s biggest business tycoon must walk

Peter Cai

20 June 2014

Can you be Maoist and ultra-capitalist at the same time? Yes, you can. The embodiment of this ultimate contradiction is Ren Zhengfei, the legendary founder of the Chinese telecommunication giant, Huawei.

He is one of China’s most respected and powerful businessmen, an admirer of the Whiz Kids of Ford — who pioneered a data-driven decision-making process — and is a personal friend of American business tycoons such as Hank Greenberg of AIG and John Chambers of Cisco. Read more of this post

China denies trying to ban unapproved critical media coverage

China denies trying to ban unapproved critical media coverage

9:08am EDT

BEIJING (Reuters) – China is not trying to ban reporters from publishing critical reports without prior approval, an official told state media on Thursday, insisting an order had been misinterpreted and its real goal was to stop journalists abusing their jobs.

The State Administration of Press, Publication, Radio, Film and Television issued rules on Wednesday saying reporters could only publish critical stories if their employer had signed off on it, sparking accusations of censorship. Read more of this post

China Property Collapse Seen as $33 Billion in Trusts Due

China Property Collapse Seen as $33 Billion in Trusts Due

By Bloomberg News – Jun 19, 2014

Chinese property trusts face record repayments next year as the real-estate market cools, fueling speculation among bond funds that more developers will collapse.

The trusts, which channel money from wealthy individuals to smaller builders that have trouble obtaining financing elsewhere, must repay 203.5 billion yuan ($32.7 billion) in 2015, according to Use Trust, a Chinese research firm. That’s almost double the 109 billion yuan due this year. New issuance of the products slumped to 40.7 billion yuan this quarter, the least in more than two years, Use Trust data show. Read more of this post

Reforming China’s Monopolies

Reforming China’s Monopolies

Peijun Duan 

Central Party School

Anthony Saich 

Harvard University – Harvard Kennedy School (HKS)
May 7, 2014
HKS Working Paper No. RWP14-023

Abstract: 
This working paper focuses on an aspect of governance that is crucial to the next phase of China’s development: reducing state monopolies in order to enhance economic efficiency and promote more equitable growth. It is important to note that monopoly control in the Chinese political economy is not simply an economic phenomenon but also a phenomenon deeply embedded in a comprehensive system of power. Monopolies in the economic sphere (resources, prices, markets, and assets) are serious, but they are derived from the legacy of the centrally planned economy. They are also rooted in the traditional structure of Chinese society and its culture. In this paper, we will present a comprehensive examination of the phenomenon of monopoly control in the Chinese system.

On Value Traps

06 Jun

On Value Traps

David Merkel

One thing that floors me regarding my readers, is who reads me.  I have many professional readers who read me regularly, and I thank you for doing so.  Tonight’s piece stems from an e-mail from one of my professional readers:

Hi David,

Big compliments for your blog, it’s probably the best on the net and one of the very few I am reading these days. I really like your overall approach to investing and I am using some of your methods myself with success in my ZZZ Fund (ZZZ on Bloomberg) like having an even-weighted portfolio of 30-40 stocks with regular rebalancing or focusing on the strongest players in weak industries (southern European banks anyone?). Read more of this post

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