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Morning Bamboo Insight: 28 Jul 2014

Morning Bamboo Insight: 28 Jul 2014

Macro

1. How Krugman Fudged the Truth on U.S. Debt; By mentioning only the baseline projection from the Congressional Budget Office, he downplayed the potentially dangerous growth of U.S. debt as a percentage of GDP.

http://online.barrons.com/news/articles/SB50001424053111904780504580043323337920154?mod=BOL_hp_mag

2. Texas tycoon Sam Wyly and the estate of his late brother Charles should pay damages totaling $1.41 billion for their role in a scheme that hid trades in companies they controlled using offshore trusts, the SEC said

http://www.reuters.com/article/2014/07/26/us-sec-wyly-idUSKBN0FV0ND20140726

3. Four years later, Dodd-Frank fails to turn banks into pet shops

http://fortune.com/2014/07/25/dodd-frank-volcker-risky-trading/

4. Heeding 1994’s Bond-Market Lesson

http://online.wsj.com/articles/heard-on-the-street-heeding-1994s-bond-market-lesson-1406494856

5. (Macro) – Trillion-dollar boo-boo: Bad governments cost investors a fortune

http://www.economist.com.libproxy.smu.edu.sg/news/finance-and-economics/21608754-bad-governments-cost-investors-fortune-trillion-dollar-boo-boo

6. BIG MAC INDEX: Kroners And Swiss Francs Are Still Overvalued

http://www.businessinsider.sg/big-mac-index-kroners-and-swiss-francs-are-still-overvalued-2014-7/#.U9W2H_mSxqU

7. Market mania: a ‘how-to’ guide to hot assets; From spotting the signs to timing your exit, profiting is tricky

http://www.ft.com/intl/cms/s/0/36c2fb44-0c4d-11e4-9080-00144feabdc0.html#axzz38j4SYiuh

8. Germany: A nation of tenants; Only 40 per cent of Germans own their homes, compared with 70 per cent of Britons

http://www.ft.com/intl/cms/s/0/14fe8e4c-1567-11e4-ae2e-00144feabdc0.html#axzz38j4SYiuh

Asia Pacific

1. (China/HK) – In Chinese shadow, HK fights for its future

http://www.bigstory.ap.org/article/chinese-shadow-hong-kong-fights-its-future-0

2. (China) – Retired military officials ordered to return extra homes

http://news.xinhuanet.com/english/china/2014-07/26/c_133512259.htm

3. (China) – State media promoting China’s leader Xi with intensity unseen since Mao era

http://www.washingtonpost.com/world/asia_pacific/state-media-promoting-chinas-leader-xi-with-intensity-unseen-since-mao-era/2014/07/24/f5517d88-1247-11e4-8936-26932bcfd6ed_story.html

4. (China) – What Do Chinese Dumplings Have to Do With Global Warming? In the 12 years between 1995 and 2007, China’s domestic refrigerator-ownership numbers have jumped to 95 percent from just 7 percent of urban families

http://www.nytimes.com/2014/07/27/magazine/what-do-chinese-dumplings-have-to-do-with-global-warming.html

5. (China) – Artful Dodge: Why Chinese Collectors Are ‘Borrowing’ Their Own Pieces

http://blogs.wsj.com/chinarealtime/2014/07/28/artful-dodge-why-chinese-collectors-are-borrowing-their-own-pieces

6. (China/Asia) – Winners and losers in the great Chinese rebalancing; Slowing investment and resilient consumption in China are changing Asia’s economic order

http://www.economist.com.libproxy.smu.edu.sg/news/finance-and-economics/21608749-slowing-investment-and-resilient-consumption-china-are-changing-asias-economic

7. (China/Consumer) – Diageo to write down Chinese spirit stake

http://www.ft.com/intl/cms/s/0/6ad46aa0-15a1-11e4-9e18-00144feabdc0.html#axzz38j4SYiuh

8. (Japan) – Shinzo Abe faces rising disenchantment in Japan

http://www.ft.com/intl/cms/s/0/d88ec8dc-1543-11e4-85bc-00144feabdc0.html?siteedition=intl#axzz38iqWKxc5

Life

1. Where Reason Ends and Faith Begins: In the face of uncertainty, being precise about what you don’t believe in can shore up your confidence in what you do

http://www.nytimes.com/2014/07/27/opinion/sunday/t-m-luhrmann-where-reason-ends-and-faith-begins.html?ref=opinion&_r=0

2. Failure Is Our Muse: Writers are the professional losers. Three hundred thousand books are published in the United States every year. A few hundred could be called financial or creative successes

http://www.nytimes.com/2014/07/27/opinion/sunday/failure-is-our-muse.html?ref=opinion

3. Branding gone wrong: When bad logos strike back

http://fortune.com/2014/07/21/branding-gone-wrong-when-bad-logos-strike-back/

4. What Rock Concerts Teach Us About Creating Strong Customer Bonds; “Love unfolds and reverberates between and among people and thereby belongs to all parties involved, and to the metaphorical connective tissue that binds them together”

http://www.forbes.com/sites/ruthblatt/2014/07/23/what-rock-concerts-teach-us-about-creating-strong-customer-bonds/print/

5. Innovation Emerges From Stories We Tell; Plato told us that “those who tell the stories rule society

http://www.forbes.com/sites/henrydoss/2014/07/25/innovation-emerges-from-stories-we-tell/print/

6. Love 2.0: Creating Happiness and Health in Moments of Connection

http://www.amazon.com/Love-2-0-Creating-Happiness-Connection/dp/0142180475

7. Many would tell you that if you show someone your heart, especially in business – you are soft. Weak. Prey in a world of predators. In the world of artists and making a business out of artistry, sometimes all an emerging artist has is heart

http://www.forbes.com/sites/lorikozlowski/2014/07/23/talenthouse-is-technology-connecting-the-established-and-emerging/print/

8. There’s A Major Revolution In The Book Industry That’s Letting Novelists Make A Living

http://www.businessinsider.sg/publishing-industry-revolution-is-helping-indie-writers-2014-7/#.U9RkkfmSxqU

9. To live in anxiety is to be human; Paradoxically, bravery is often found in those with excessive fears over other things

http://www.straitstimes.com/news/opinion/more-opinion-stories/story/live-anxiety-be-human-20140726

10. Tailspotting: Identifying and profiting from CEO vacation trips

http://lsr.nellco.org/cgi/viewcontent.cgi?article=1298&context=nyu_lewp

11. C.S. Lewis on Suffering and What It Means to Have Free Will in a Universe of Fixed Laws

http://www.brainpickings.org/index.php/2014/07/25/c-s-lewis-problem-of-pain-free-will/

12. Paula Scher on Process versus Outcome

http://www.farnamstreetblog.com/2014/07/paula-scher-on-process-versus-outcome/

13. Commonplace Books as a Source for Networked Knowledge and Combinatorial Creativity

http://www.farnamstreetblog.com/2014/07/networked-knowledge-and-combinatorial-creativity/

14. My Favorite Heuristic for Evaluating Relationships: The Antifragile Person

http://taylorpearson.me/the-antifragile-person/

15. Daniel Kahneman Explains The Machinery of Thought: The best we can do is a compromise: learn to recognize situations in which mistakes are likely and try harder to avoid significant mistakes when the stakes are high

http://www.farnamstreetblog.com/2014/07/daniel-kahneman-the-two-systems/

16. 75 Years In The Making: Harvard Just Released Its Epic Study On What Men Need To Live A Happy Life

http://www.feelguide.com/2013/04/29/75-years-in-th-making-harvard-just-released-its-epic-study-on-what-men-require-to-live-a-happy-life/

17. Don’t Send Your Kid to the Ivy League: The nation’s top colleges are turning our kids into zombies

http://www.newrepublic.com/article/118747/ivy-league-schools-are-overrated-send-your-kids-elsewhere

18. MasterCard’s Ajay Banga: Why ‘Yes, If’ Is More Powerful Than Saying No

http://knowledge.wharton.upenn.edu/article/mastercard-competitive-strategy/

19. Books – Decide: Work Smarter, Reduce Your Stress, and Lead by Example

http://www.amazon.com/exec/obidos/ASIN/1118554388/

TMT

1. Flood of Rivals Could Burst Amazon’s Cloud; Large Telecom and Startups Are Forging Into the Computing Services Business

http://online.wsj.com/articles/storm-clouds-over-amazon-business-1406328539

2. Apple attempts a return to innovation; ‘Apple’s research and development spending in the three months to June represented 4 per cent of sales – the highest ratio since 2006’

http://www.ft.com/intl/cms/s/0/9b615ac0-1344-11e4-8244-00144feabdc0.html#axzz38dBAEGxR

3. Advertising’s New Frontier: Talk to the Bot; Chat App Kik Unveils Feature That Lets Users Converse With Dozens of Brands

http://online.wsj.com/articles/advertisings-new-frontier-talk-to-the-bot-1406493740?mod=WSJ_LatestHeadlines

Consumer

1. The fallout after Comet crashed to earth: Claims of wrongdoing, legal short-cuts and corporate greed emerge in case over the collapse of the high street, electrical goods chain

http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/10992858/The-fallout-after-Comet-crashed-to-earth.html

Commodities

1. Abundant Grain Ripples Through U.S. Farm Industry

http://online.wsj.com/articles/abundant-grain-ripples-through-u-s-farm-industry-1406505224?mod=WSJ_LatestHeadlines

Energy

1. Sun, wind and drain: Wind and solar power are even more expensive than is commonly thought

http://www.economist.com.libproxy.smu.edu.sg/news/finance-and-economics/21608646-wind-and-solar-power-are-even-more-expensive-commonly-thought-sun-wind-and

2. UK shale licences attacked as ‘reckless race’

http://www.ft.com/intl/cms/s/0/5fc456c0-15ab-11e4-9e18-00144feabdc0.html#axzz38j4SYiuh

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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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