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Morning Bamboo Insight: 09 Jul 2014

Morning Bamboo Insight: 09 Jul 2014

Macro

1. Banks Face Added Capital Requirements; Basel Committee May Reduce Lenders’ Latitude on Weighing Risk, including potentially ending the long-standing treatment of all government bonds as automatically risk-free

http://online.wsj.com/articles/banks-face-added-capital-requirements-1404692554

2. From 1889 to 2014, Political Parallels Abound; Hope in History? Past Is Prologue in Problems and Progress

http://online.wsj.com/articles/from-1889-to-2014-political-parallels-abound-1404749371

3. Ambition, investor greed fuel rise and fall of Dubai’s Arabtec

http://www.reuters.com/article/2014/07/08/us-arabtec-ceo-insight-idUSKBN0FD0BK20140708?feedType=RSS&feedName=businessNews

4. Investors Are Buying Troubled Golf Courses and Giving Them Makeovers

http://dealbook.nytimes.com/2014/07/07/investors-are-buying-troubled-golf-courses-and-giving-them-makeovers/

5. Welcome to the Everything Boom, or Maybe the Everything Bubble; Around the world, nearly every asset class is expensive by historical standards

http://www.nytimes.com/2014/07/08/upshot/welcome-to-the-everything-boom-or-maybe-the-everything-bubble.html

6. 125 Years of Change in the U.S. Economy-and the Dow; How the Business World Has Been Transformed, From the Democratization of Capital to the Rise and Fall of Labor

http://online.wsj.com/articles/125-years-of-change-in-the-u-s-economyand-the-dow-1404763584

7. Banks’ Judgment Leaves Investors with Alternative Risk; Newfangled capital is being used most by banks that rely more on making judgments about the riskiness of their assets. That leaves equity investors expos

http://online.wsj.com/articles/heard-on-the-street-banks-judgment-leaves-investors-with-alternative-risk-1404747400

Asia Pacific

1. (China) – Crony Capitalism Comes To China – Ex Central Bank Chief’s Son-In-Law In Insider-Trading Scandal

http://www.zerohedge.com/news/2014-07-07/crony-capitalism-comes-china-ex-central-bank-chiefs-son-law-insider-trading-scandal

2. (China) – “This Could Be The Last Straw” 90% Of China Loan Guarantors Bankrupt

http://www.zerohedge.com/news/2014-07-07/could-be-last-straw-90-china-loan-guarantors-bankrupt

3. (Isia) – As Indonesia Vote Nears, a Trip to Mecca; In Race’s 11th Hour, Candidate Shores Up Muslim Credentials After Rival Gets Hard-Liner Backing

http://online.wsj.com/articles/as-indonesia-vote-nears-a-trip-to-mecca-1404746650

4. (China/Tech) – Alibaba Founder’s Recent Deals Raise Flags; Some Investments by Jack Ma, Partners Were Made on Behalf of Alibaba or Funded by Loan From the Company

http://online.wsj.com/articles/alibaba-founder-jack-mas-recent-deals-raise-flags-1404760656

5. (Korea/Tech) – Foreign Investors Put Pressure on Samsung; As Tech Giant’s Cash Pile Grows, Company Executives Are Urged to Raise in Dividends, Restart Buybacks

http://online.wsj.com/articles/foreign-investors-put-pressure-on-samsung-1404758013?mod=_newsreel_3

6. (HK) – Flying Wolves and Rejected Bills: Hong Kong’s Most Hostile Legislature Ever

http://blogs.wsj.com/chinarealtime/2014/07/07/flying-wolves-and-rejected-bills-hong-kongs-most-hostile-legislature-ever/?mod=WSJ_hp_Asia_EditorsPicks

7. (China) – ‘Transformers’ Soon to Become China’s Highest-Grossing Film of All Time

http://blogs.wsj.com/chinarealtime/2014/07/07/transformers-soon-to-become-chinas-highest-grossing-film-of-all-time/?mod=WSJ_hp_Asia_EditorsPicks

8. (Isia) -Indonesia: The Governor vs. the General; The candidates’ nearly equal polls suggest voters want both a less elitist and more assertive Indonesia

http://online.wsj.com/articles/kurtz-van-zorge-indonesia-the-governor-vs-the-general-1404751934

9. (Isia) – Indonesia’s Choice on Democracy; Will the next president be a defender of liberal values or an aspiring strongman?

http://online.wsj.com/articles/indonesias-choice-on-democracy-1404751125

10. (Thai) – Thai junta pushing renovation unseen for decades

http://news.asiaone.com/print/news/asia/thai-junta-pushing-renovation-unseen-decades

11. (Msia) – Malaysia’s Penang MLM company of 26-year-old Chinese ‘millionaire’ under investigation since February

http://news.asiaone.com/print/news/malaysia/company-26-year-old-chinese-millionaire-under-investigation-february

http://news.asiaone.com/print/news/malaysia/chinese-millionaires-mlm-scheme-illegal-set

12. (Isia) – Indonesian presidential hopeful prays Mecca trip will win votes; Megawati works backstage as Jokowi takes the spotlight

http://news.asiaone.com/print/news/asia/indonesian-presidential-hopeful-prays-mecca-trip-will-win-votes

http://news.asiaone.com/print/news/asia/megawati-works-backstage-jokowi-takes-spotlight

13. (Japan) – Hope for Abe’s ‘virtuous cycle’ as Japan Inc spends on technology

http://www.reuters.com/article/2014/07/07/us-japan-economy-capex-idUSKBN0FC29S20140707

14. (China) – Ren Zhengfei, the founder of Huawei, said the United States doesn’t want to see a stronger China during his first ever interview with Chinese media in June

http://www.china.org.cn/business/2014-07/08/content_32886613.htm

15. (China) – China’s State Media Goes Into Overdrive Over the Marco Polo Incident

http://blogs.wsj.com/chinarealtime/2014/07/07/chinas-state-media-goes-into-overdrive-over-the-marco-polo-incident/

16. (China) – China Local Funding Unit Got Funds Illegally, Beijing News Says

http://www.bloomberg.com/news/print/2014-07-07/china-local-funding-unit-got-funds-illegally-beijing-news-says.html

17. (China) – Behind the Propaganda Wars-4 / China wages $8.7 billion global media campaign

http://the-japan-news.com/news/article/0001380691

18. (China/Tech) – County-level E-commerce: Next Driver of China’s Online Shopping

http://huxiu.me/post/91120074826/county-level-e-commerce-next-driver-of-chinas-online

19. (India) – Investors Budgeting for India Blockbuster; Modi’s first budget as prime minister is a signal event for India investors. There’s ample room for disappointment

http://online.wsj.com/articles/investors-budgeting-for-india-blockbuster-1404701339

20. (Korea/Tech) – Samsung Sings Smartphone Blues; The cash returns are likely to come as buybacks rather than dividends, as that would help the Lee family keep hold over the company ahead of a massive restructuring of the broad Samsung conglomerate

http://online.wsj.com/articles/heard-on-the-street-samsung-sings-smartphone-blues-1404800905?tesla=y&mg=reno64-wsj&url=http://online.wsj.com/article/SB10001424052702304418604580016341199915002.html

Life

1. Scientists Identify Largest Flying Bird; The Sea Bird Likely Flew 25 Million Years Ago and Was Twice the Size of a Modern Albatross

http://online.wsj.com/articles/scientists-identify-largest-flying-bird-1404759602

2. Build a family empire; How do you take a family business and turn it into something special?

http://www.theage.com.au/small-business/trends/build-a-family-empire-20140703-3bb1u.html#ixzz36t3xUnhc

3. The Creative Climate: Creative tension between people and within individuals is fundamental to social evolution; Albert Einstein put it, “You can never solve a problem on the level on which it was created.”

http://www.nytimes.com/2014/07/08/opinion/david-brooks-the-creative-climate.html?emc=edit_th_20140708&nl=todaysheadlines&nlid=36114517

4. A new Quinnipiac poll finds that a plurality rated Barack Obama the worst president in the past 70 years — worse even than Richard Nixon, who resigned in scandal

http://www.washingtonpost.com/opinions/marc-thiessen-obamas-legacy-of-failure/2014/07/07/9148acf8-05e0-11e4-a0dd-f2b22a257353_story.html?wpisrc=nl_opinions

5. Starting a Corporate Information Business? Consider These Six Tips

http://blogs.wsj.com/cio/2014/07/08/starting-a-corporate-information-business-consider-these-six-tips/

6. Free People, Free Markets: The lessons from 125 years show how to revive American prosperity

http://online.wsj.com/articles/the-wall-street-journal-125-years-of-free-people-free-markets-1404770480

7. The Case for Crony Capitalism?

http://online.wsj.com/articles/the-case-for-crony-capitalism-1404776061

8. Billy Beane on the Future of Sports: A Tech-Driven Revolution; The A’s General Manager Says New Systems Will Transform How We Play-and Watch-Sports

http://online.wsj.com/articles/billy-beane-on-the-future-of-sports-a-tech-driven-revolution-1404762964

9. Rosabeth Moss Kanter on How Corporations of the Future Will Behave; The Harvard Business School Professor Says Companies Will Converge on a Few Universal Standards and Norms

http://online.wsj.com/articles/rosabeth-moss-kanter-on-how-corporations-of-the-future-will-behave-1404763051

10. John Bogle on the Future of Investing: The Rise of the Shareholders; Vanguard’s Founder Sees Investors Demanding a Smaller, Simpler Financial System

http://online.wsj.com/articles/john-bogle-on-the-future-of-investing-the-rise-of-the-shareholders-1404765274

11. G. Scott Hubbard on the Future of Space Exploration; The Former NASA Official Says to Get Ready for Bioengineering, Teleportation and a New Home on Mars

http://online.wsj.com/articles/g-scott-hubbard-on-the-future-of-space-exploration-1404765170

12. Kasim Reed on the Future of Cities as Global Leaders; As National Governments Struggle, the Atlanta Mayor Says, Cities Will Increasingly Be the Place Where Problems Get Solved

http://online.wsj.com/articles/kasim-reed-on-the-future-of-cities-as-global-leaders-1404764926

13. Bill Ford on the Future of Transportation: We Can’t Simply Sell More Cars; Ford’s Chairman Says We Must Rethink How We Make Vehicles-and How We Use Them

http://online.wsj.com/articles/bill-ford-on-the-future-of-transportation-we-cant-simply-sell-more-cars-1404763769

14. Margaret Spellings on the Future of Education; The Former Education Secretary Predicts Schools Will Evolve Into a Student-Driven System With No Grade Levels

http://online.wsj.com/articles/margaret-spellings-on-the-future-of-education-1404763892

TMT

1. Uber Launches War Against Yellow Cabs, Cuts New York Fares By 20% As Ali-Baba Launches Chinese Uber Competitor

http://www.zerohedge.com/news/2014-07-07/uber-launches-war-against-yellow-cabs-cuts-new-york-fares-20-ali-baba-launches-chine

2. Fireside chat with Google co-founders, Larry Page and Sergey Brin

http://www.khoslaventures.com/fireside-chat-with-google-co-founders-larry-page-and-sergey-brin

3. Tim Cook’s Recasting of Apple Is in Full Bloom; CEO Pushes Executives to Be More Collaborative, Broaden Its Legendary Laser Focus

http://online.wsj.com/articles/tim-cooks-apple-takes-shape-1404757939?mod=LS1

4. Critics Fault Court’s Grip on Appeals for Patents; More than 30 years ago, Congress granted a single court the power to hear nearly all the nation’s patent appeals

http://online.wsj.com/articles/critics-fault-courts-grip-on-appeals-for-patents-1404688219?tesla=y&mg=reno64-wsj&url=http://online.wsj.com/article/SB10001424052702304642804580013122866879434.html

5. JPMorgan, Danske among Funds Exposed to Gowex Accounting Fraud

http://www.accountingtoday.com/news/accounting_news/jpmorgan-danske-funds-exposed-gowex-accounting-fraud-71232-1.html

6. 3D printing confronts the everyday world: Fixing broken appliances is no longer a case of forking out for expensive labour and parts, if you have a 3D printer

http://www.theage.com.au/digital-life/digital-life-news/3d-printing-confronts-the-everyday-world-20140703-zsdad.html.html

7. How An E-Commerce Startup Is Reinventing the Wedding Registry

http://www.fastcompany.com/3032714/hit-the-ground-running/how-an-e-commerce-startup-is-reinventing-the-wedding-registry?partner=newsletter

8. Sarah Susanka Says the Home of the Future Will Be a Portal; The ‘Not So Big’ Author Says Tomorrow’s House Will Be a Place for Accessing the World Around Us

http://online.wsj.com/articles/sarah-susanka-says-the-home-of-the-future-will-be-a-portal-1404764842

9. Roy Price on the Future of Television: How TV Networks Will Evolve; The Director of Amazon Studios Says the Flow of Network Content May Be Customized for Individuals

http://online.wsj.com/articles/roy-price-on-the-future-of-television-how-tv-networks-will-evolve-1404764176

Consumer

1. Wal-Mart Looks to Grow by Embracing Smaller Stores; Retailer Tries New Business Models as Its Superstores Fall Out of Favor

http://online.wsj.com/articles/wal-mart-looks-to-grow-by-embracing-smaller-stores-1404787817

2. Crumbs Bake Shop Closing Its Doors; Cupcake Chain Throws in the Towel, a Week After Nasdaq Suspension, Which Triggered Default

http://online.wsj.com/articles/sticky-time-for-crumbs-bake-shop-1404770884

Energy

1. North Dakota Fracking: Behind the Oil-Train Explosions; Volatile Gases Aren’t Removed From Bakken Shale Crude; ‘The Regulations Are Silent’

http://online.wsj.com/articles/north-dakota-fracking-behind-the-oil-train-explosions-1404761720

2. Daniel Yergin on the Future of Energy: Big Gains for Coal and Natural Gas; The Energy Expert Says Change Comes Slowly to the Industry

http://online.wsj.com/articles/daniel-yergin-on-the-future-of-energy-big-gains-for-coal-and-natural-gas-1404764096

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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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