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Evening Bamboo Insight: 02/07/2014

Evening Bamboo Insight

Macro

1. Regulator says ‘crony capitalism’ undermines Italy’s economy

http://www.ft.com/intl/cms/s/0/b4a80580-005f-11e4-8aaf-00144feab7de.html

2. A proposal to require auditors to disclose “critical audit matters” in their reports has generated apprehension among audit firms and pushback from CFO

http://ww2.cfo.com/auditing/2014/07/nothing-critical/view-all/

3. Finance Principles Apply to CEO Succession; Counterintuitively, a poorly performing company should look inside for its next CEO, research suggests

http://ww2.cfo.com/leadership/2014/07/finance-principles-apply-ceo-succession/view-all/

4. Study On How Investment Horizon Impacts Corporate Decision-Making

http://public-prod-acquia.gsb.stanford.edu/sites/default/files/2014_Investment-Horizon-Final_0.pdf

Asia Pacific

1. “House-for-pension” a bitter option in graying China http://news.xinhuanet.com/english/indepth/2014-07/01/c_126692496.htm?utm_source=The+Sinocism+China+Newsletter&utm_campaign=f7791df4c2-Sinocism07_01_14&utm_medium=email&utm_term=0_171f237867-f7791df4c2-29575541&mc_cid=f7791df4c2&mc_eid=826a915859

2. German Auto Parts Provider Decides China Market beyond Repair; For three years Stahlgruber tried to standardize the industry, but was unable to thrive in ‘chaotic’ market

http://english.caixin.com/2014-06-30/100697596.html?utm_source=The+Sinocism+China+Newsletter&utm_campaign=f7791df4c2-Sinocism07_01_14&utm_medium=email&utm_term=0_171f237867-f7791df4c2-29575541&mc_cid=f7791df4c2&mc_eid=826a915859

3. Infosys’ New CEO Will Have to Work Harder to Establish Moral Ground: Shibulal

http://forbesindia.com/article/exit-interview/infosys-new-ceo-will-have-to-work-harder-to-establish-moral-ground-shibulal/38098/1

4. Why Hong Kong’s Entrepreneurial Reputation Is Growing

http://www.forbes.com/sites/freddiedawson/2014/06/30/why-hong-kongs-entrepreneurial-reputation-is-growing/print

5. Hundreds of thousands of protesters, some waving colonial-era flags and chanting anti-Beijing slogans, staged a pro-democracy march in rain-soaked Hong Kong that organisers say could be the largest since the city was handed back to China

http://www.channelnewsasia.com/news/asiapacific/thousands-gather-for-hong/1226088.html#

http://www.reuters.com/article/2014/07/01/us-hongkong-protests-idUSKBN0F632A20140701

6. Direct Elections Are Un-Indonesian: if elected, he would begin the process of winding back the electoral system in favor of a “consultative” approach he says is more in keeping with Indonesian cultural traditions

http://www.thejakartaglobe.com/news/direct-elections-un-indonesian-prabowo/

7. China-Taiwan relations: Big brother comes wooing

http://www.economist.com/blogs/analects/2014/07/china-taiwan-relations

8. Inquiry into Qingdao Company’s Loans Backed by Metals Collateral Continues

http://english.caixin.com/2014-07-01/100698198.html

9. The founder and chief executive of Town Health International Medical Group (3886) has set up Hong Kong’s first 24-hour clinic in 1998.

http://www.thestandard.com.hk/news_detail.asp?we_cat=16&art_id=146862&sid=42537971&con_type=3&d_str=20140630&fc=1

  1. HK Financial Secretary John Tsang Chun-wah: Housing curbs ‘must be retained’

http://www.thestandard.com.hk/news_detail.asp?pp_cat=30&art_id=146897&sid=42537618&con_type=1

11. Robots make up for China’s manual labor shortages

http://www.wantchinatimes.com/news-subclass-cnt.aspx?id=20140630000078&cid=1205

12. Song Kehuang, son of Communist Party elder Song Renqiong

http://www.wantchinatimes.com/news-subclass-cnt.aspx?id=20140630000049&cid=1601

13. Property deals through China’s ‘shadow banks’ worry Australia

http://www.wantchinatimes.com/news-subclass-cnt.aspx?cid=1203&MainCatID=12&id=20140628000129

14. Taiwan’s underground economy at 28% of GDP is proportionally larger than China’s 14%

http://www.chinapost.com.tw/print/411375.htm

15. Ex-Yuanta chiefs get time in jail for breach of trust

http://www.chinapost.com.tw/print/411357.htm

16. Dongbu Group’s liquidity woes derive from a typical weakness of Korea Inc. – a phobia of restructuring. If a company becomes weak, it must regain its health from a new diet and rehabilitation

http://koreajoongangdaily.joins.com/news/article/article.aspx?aid=2991387

17. Gov’t lifts veil on how chaebol employ temps; One out of five employees working for Korea’s conglomerates are temporary workers

http://koreajoongangdaily.joins.com/news/article/article.aspx?aid=2991444

18. The commercial property market in South Korea is chilling out as financial companies such as banks, insurers and brokerages started winding down and merging branches

http://news.mk.co.kr/english/newsRead.php?sc=30800016&cm=Finance&year=2014&no=946497&selFlag=sc&relatedcode=&wonNo=&sID=308

19. CBA tellers driven to despair by hard sell to chase sales targets which is leading to fraud; CBA was the “biggest and the baddest” of the banks. “Staff have to up-sell and on-sell products and services and debt to consumers”

http://www.smh.com.au/business/cba-tellers-driven-to-despair-by-hard-sell-20140630-3b4ca.html#ixzz36FuZ4e2I

 

Life

1. Clues to Teaching Young Children to Tell the Truth; A Study of Lying Involving George Washington, ‘Pinocchio’ and ‘The Boy Who Cried Wolf’

http://online.wsj.com/articles/clues-to-teaching-young-children-to-tell-the-truth-1404167647?mod=WSJ_hpp_MIDDLENexttoWhatsNewsFifth

2. The Evolution of Trust; The evolution to more frugal, deinstitutionalized living that has created the sharing economy may also lead to less involvement of government in everyday life

http://www.nytimes.com/2014/07/01/opinion/david-brooks-the-evolution-of-trust.html?emc=edit_th_20140701&nl=todaysheadlines&nlid=36114517&_r=0

3. The Untethered Soul: The Journey Beyond Yourself

www.untetheredsoul.com

4. Don’t Let All of Indonesia’s Birds Become Mythical Creatures; The Garuda is a reference to both Indonesia’s Hindu and Buddhist past, as well as to the cultural importance of birds in this country

http://www.thejakartaglobe.com/opinion/dont-let-indonesias-birds-become-mythical-creatures/

5. What Makes People Follow Reluctant Leaders

http://blogs.hbr.org/2014/06/what-makes-people-follow-reluctant-leaders

6. The rickshaw puller who saved Lee Kuan Yew

http://news.asiaone.com/news/singapore/rickshaw-puller-who-saved-lee-kuan-yew

7. Stiglitz: Inequality Is Not Inevitable

http://opinionator.blogs.nytimes.com/2014/06/27/inequality-is-not-inevitable/?_php=true&_type=blogs&ref=opinion&_r=0

8. Give the geniuses a reason to make earth a better place; It should not take fear to make us motivate talents to improve our lives, says John Llewellyn

http://www.ft.com/intl/cms/s/0/cf88b3c8-004f-11e4-a3f2-00144feab7de.html#axzz36EUm9joK

9. Founders, fathers and daughters; Women are taking power at family businesses set up by their dads

http://www.ft.com/intl/cms/s/0/b13b942c-003f-11e4-8aaf-00144feab7de.html#axzz36EUm9joK

TMT

1. For Alibaba, a challenge is to turn mobile into money

http://www.reuters.com/article/2014/06/30/uk-alibaba-group-mobile-idUSKBN0F52K620140630

2. Mobile Games Help Messaging Apps Succeed; Runaway Game Hits Like Cookie Run are Helping Messaging Apps From KakaoTalk to Line

http://online.wsj.com/articles/how-mobile-games-help-messaging-apps-succeed-1404182365

3. Research Labs Jump to the Cloud; Startups Use Software, Robots to Slash Costs for Basic Experiments

http://online.wsj.com/articles/research-labs-jump-to-the-cloud-1404168036

4. How a little open source project came to dominate big data

http://fortune.com/2014/06/30/hadoop-how-open-source-project-dominate-big-data/

5. Burberry, Estee Lauder encounter initial obstacles on Tmall; the return rate during the first 18 days of operations had touched 26.4%.

http://www.wantchinatimes.com/news-subclass-cnt.aspx?id=20140701000147&cid=1206

6. Telecoms: Scrambled signal; The fragmented mobile phone industry undermines Europe’s single-market dream

http://www.ft.com/intl/cms/s/0/8e4c0c18-002f-11e4-a3f2-00144feab7de.html#axzz36EUm9joK

7. How Jeff Bezos Created One Of The Most Admired And Feared Companies In The World

http://www.businessinsider.sg/amazons-jeff-bezos-2014-6/#.U7Lgh_mSxqU

8. Yik Yak, A 7-Month-Old School Gossip App That’s Spreading Like Crazy, Has Raised $10 Million

http://www.businessinsider.sg/yik-yak-raises-10-million-2014-6/#.U7LhwPmSxqU

9. Murdoch’s ambitions may take center stage in Sun Valley

http://www.reuters.com/article/2014/07/01/us-conference-murdoch-idUSKBN0F63TF20140701?feedType=RSS&feedName=technologyNews

Health

1. New Weapon in Fight Against ‘Superbugs’; A soil sample from a national park in eastern Canada has produced a compound that appears to reverse antibiotic resistance in dangerous bacteria

http://online.wsj.com/articles/new-weapon-in-fight-against-superbugs-1404175658?mod=WSJ_hpp_MIDDLENexttoWhatsNewsFifth

Consumer

1. La Senza goes into administration; Lingerie chain says it has no alternative to administration, putting 752 UK jobs at risk, due to difficult trading conditions

http://www.theguardian.com/business/2014/jul/01/la-senza-goes-into-administration-lingerie-chain

Investing Process

1. Buffett’s Early Investments

http://basehitinvesting.com/buffetts-early-investments/?utm_source=feedly&utm_reader=feedly&utm_medium=rss&utm_campaign=buffetts-early-investments

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About bambooinnovator
KB Kee is the Managing Editor of the Moat Report Asia (www.moatreport.com), a research service focused exclusively on highlighting undervalued wide-moat businesses in Asia; subscribers from North America, Europe, the Oceania and Asia include professional value investors with over $20 billion in asset under management in equities, some of the world’s biggest secretive global hedge fund giants, and savvy private individual investors who are lifelong learners in the art of value investing. KB has been rooted in the principles of value investing for over a decade as an analyst in Asian capital markets. He was head of research and fund manager at a Singapore-based value investment firm. As a member of the investment committee, he helped the firm’s Asia-focused equity funds significantly outperform the benchmark index. He was previously the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. KB has trained CEOs, entrepreneurs, CFOs, management executives in business strategy, value investing, macroeconomic and industry trends, and detecting accounting frauds in Singapore, HK and China. KB was a faculty (accounting) at SMU teaching accounting courses. KB is currently the Chief Investment Officer at an ASX-listed investment holdings company since September 2015, helping to manage the listed Asian equities investments in the Hidden Champions Fund. Disclaimer: This article is for discussion purposes only and does not constitute an offer, recommendation or solicitation to buy or sell any investments, securities, futures or options. All articles in the website reflect the personal opinions of the writer.

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