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Bamboo Innovator Daily Insight: 5 Feb (Thurs) – Seth Klarman: What I’ve learned from Warren Buffett

Life 

  • Seth Klarman: What I’ve learned from Warren Buffett: FT
  • Why Mark Zuckerberg is reading a book called ‘Gang Leader for a Day’: BI
  • This simple phrase could revolutionize your business; “idk” is a simple acronym of great power: FP
  • The First Page; Never take the reader’s attention for granted. We have to earn it, you and I, and that ain’t easy. Is there a secret? None that I’ve found. We’ve got to keep striving for that magic, wherever and however we can find it. SP
  • Here’s the advice billionaire investor Peter Thiel wishes he could’ve given his younger self: BI
  • Peter Thiel has an insane story about what a real tech bubble feels like: BI
  • Why being lazy and procrastinating could make you wildly successful; Bill Gates said he would always ‘hire a lazy person to do a difficult job’ at Microsoft ‘because a lazy person will find an easy way to do it’: Telegraph
  • The Dangers of Believing That Talent Is Innate; A study of academia shows how being convinced of intrinsic ability may lead to bias and unwillingness to change. WSJ
  • Psychologists say one strategy is key to defusing heated arguments and avoiding divorce: BI
  • Employees reveal the best things about working at Apple: BI
  • Review: ‘Bold’ by Peter Diamandis and Stephen Kotler; A guide to exponential digital chutzpah from a master of the art of ‘going big’: FT
  • Abbott, Giles and Newman: the lessons from their leadership failures: BRW
  • Innovate or Stagnate: PS
  • How to Revive a Tired Network: HBR
  • A Simple Way to Measure How Much Customers Love Your Brand: HBR
  • In Leadership, When Does Your Hard-Earned Confidence Become A Weakness?: Forbes
  • The dawn of marketing’s new golden age: Marketers are boosting their precision, broadening their scope, moving more quickly, and telling better stories. McKinsey

Books

  • Gang Leader for a Day: A Rogue Sociologist Takes to the Streets : Amazon

Investing Process

  • A Look At Negative Equity Companies: VW

Greater China

  • Corporate China not yet ready to rule the world; Regulation and suspicion harm companies’ efforts to break into foreign markets: FT
  • SEC, Chinese Affiliates of Accounting Firms Near Settlement; Chinese Audit Firms of Big Four Accounting Firms Face Sanctions Over Document Sharing: WSJ
  • Facing up to ‘Mask City’ in HK: Standard
  • Feed China, starve the world? WCT
  • Fake app-ranking factory unveiled in China: WCT
  • CDB Told to Return to Policy Bank Role It Left Years Ago: Caixin
  • China has crossed a major investment threshold that is going to change the entire world? FP
  • China RRR Cut Shows Rising Pressure From Capital Flight: Forbes
  • China High-Rollers Are Avoiding Macau Because of China’s Crackdown and Gambling Elsewhere: Bloomberg
  • Chinese online video provider LeTV takes aim at manufacturing cars: SCMP
  • Alibaba hits the sky delivering tea by drone in three mainland cities: SCMP
  • Doubt grows over China investment plans; A lack of capacity, motivation and funding on the part of the officials may see some of the local governments’ investment projects fall through: SCMP
  • Margin Trading Adds to Risks in China; Funds Lent Have Risen 11% so Far This Year; Worry Over Umbrella Trusts: WSJ
  • China to ban online impersonation accounts, enforce real-name registration: Reuters
  • State-Backed Automaker FAW ‘Spent Millions to Buy Land, Build Villas’; Company leaders illegally owned or held shares in dealerships, and some helped relatives do business with the automaker: Caixin

India

  • India’s Rajan Denies Risk of Banking Crisis as Bad Loans Mount: Bloomberg
  • Samsung Overtaken by Micromax’s 21-Language Phone in India: Bloomberg, Reuters
  • India: GDP growth rate up, confidence in statistics down?: FT
  • India Inc’s tryst with Bollywood: How corporates are changing the scene: Forbes

Japan & Korea

  • ‘Park sinks deeper into political crisis’: KH
  • 8 in 10 large Korean companies voice concerns about prolonged recession, says poll: Maeil
  • Japan Needs More Corporate Funerals: Bloomberg
  • Workaholic Japan considers making it compulsory to take vacation days: JT
  • Korea moving to adopt ‘Google Tax’: KT
  • GolfZon jumps on President’s lift of golf ban: KT

ASEAN

  • Joko Widodo stumbles into crisis over police chief nominee: FT
  • Singapore remisiers write to Tharman to resolve issues plaguing market; Widespread unhappiness sees more than 1,000 stock traders, investors put pen to paper asking for separation of SGX roles, restoration of trust in market: BT
  • Jokowi the Javanese Ruler: Like the dalang in a shadow puppet performance, a consummate Javanese leader is ‘samar’ (shrouded in mystery) in his conduct. JG
  • In Jokowi’s Indecision, a Skirmish for Power; Saving Face: Analysts suggest the president hasn’t withdrawn his nominee for police chief out of deference to his political backers: JG
  • Jakarta: World’s Worst for Traffic Gridlock: JG
  • Bitcoin fervour cools in S’pore: AsiaOne
  • Malaysian conglomerate struggles to turn car unit around: Nikkei

Macro

  •  UK watchdog hands KPMG fines totalling £390,000: FT
  • Investors fear loss of millions in Brazilian property scheme: FT
  • US endowments pare bets on alternatives: FT
  • Buffett tells Fox Business he wants a company in Europe: Reuters
  • Debt mountains spark fears of another crisis: FT
  • Asset Managers Break Promises on Responsible Investment: AI
  • Bitcoin’s day of reckoning is here: Quartz
  • Devaluation by China is the next great risk for a deflationary world: Telegraph
  • Why the Great White Short II on Canadian banks is ‘inevitable’; The Great White Short on Canada’s big banks fizzled the first time around back in 2013, but round two, if it happens, will be tougher to vanquish: FP
  • Buffett’s $1m bet pays off as index tracker beats hedge funds: Telegraph
  • Intel CFO: Obama Repatriation Tax Proposal ‘Lipstick on a Pig’; it makes us less competitive with Samsung and TSMC which are the people we compete with on a worldwide stage, because they have much more pro-business tax policies: Barron’s
  • Central Bankers Play Jack-In-The-Box: Barron’s
  • If “S&P’s core business of rating securities was for three critical years “a scheme to defraud investors,” why is S&P still rating securities?”: Bloomberg
  • S&P got off easy; The next time the government finds that S&P has defrauded investors again, it should ask for more. Fortune
  • Are Emerging Markets Ready for the Housing Earthquake? FT
  • Pension Funds Criticize Transparency at KKR; KKR Returned Some Fees but Didn’t Disclose Reason Was SEC Exam: WSJ
  • Bootstrapped Startups Risk a Lack of Connections; Financial Self-Reliance Can Come Back to Haunt Entrepreneurs if They Suddenly Need Investors: WSJ
  • Chelsea Clinton’s Husband Suffers Massive Hedge Fund Loss On Greek Investment: ZeroHedge
  • The Face Of The Oligarch Recovery: Luxury Skyscrapers Empty As NYC Homeless Population Hits Record High: ZeroHedge
  • 26 Percent Of Brokers Have Lost Money To Scam Emails: SEC: VW

TMT

  • SAP founder Hasso Plattner: ‘If this doesn’t work, we’re dead. Flat-out dead.’: BI
  • Materials science: Wings of steel; An alloy of iron and aluminium is as good as titanium, at a tenth of the cost: Economist
  • Big Data: Credit where credit’s due; Companies use technology to create ‘proxy’ credit profiles, raising concerns about the tactics: FT
  • Why 3D printers are ‘the sewing machine for the 21st century’: TheAge
  • Microsoft Is Acquiring Calendar App Sunrise For North Of $100 Million: Techcrunch
  • Giving Drone Industry Leeway to Innovate: NYT
  • Why Twitter Bought Bangalore ‘Missed Call’ Startup ZipDial: Forbes
  • ‘Sharing economy’ reshapes markets, as complaints rise: AFP
  • Inside the studio where ESPN is betting billions on the future of sports: Verge
  • Google’s secret weapon in the battle for the internet of things: academia: FastCo
  • The Uberpreneur: How An Uber Driver Makes $252,000 A Year;  “It’s a genius way to start a business nowadays, especially because nobody’s doing it.”: Forbes

Energy & Commodities

  • RICH BERNSTEIN: Oil CEOs today sound like tech CEOs in 2000: BI
  • Default risk rises in US oil and gas sector: FT
  • Big oil is not the biggest victim of cheap crude: FT
  • A tiny share of Mongolians have decided the country’s future, by text message: Quartz
  • It’s Pork Over Beef in America for First Time Since 1952: Bloomberg

Consumer & Others

  • 4 ways McDonald’s tried to change Chipotle: BI
  • How Taco Bell’s Ordering App Turns Extra Onions Into Real Money: Bloomberg
  • The retailers that could be swallowed up next by Amazon: FP
  • Starbucks brews up first UK profits in 17 years: Guardian
  • Chipotle: The Definitive Oral History; The builders of a $22 billion burrito empire—the founder, his father, his college buddies, key execs, and a couple of pig farmers—open up about how they won the fast-food future : bloomberg
  • Under Armour buys fitness app startups: ChinaPost
  • Hugo Boss to take full control of Asian business: AsiaOne
  • Coke hopes to cream it but consumers dub foray into dairy ‘franken-milk’: TheAge
  • How Doonesbury helped make Pandora a success: WaPo
  • The Chipotle effect: Why America is obsessed with fast casual food:  WaPo
  • Lebanese Clan Rides Zara’s Rise to Become Billionaires: Bloomberg
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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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