Bamboo Innovator Daily Insight: 29 Apr (Wed) – Why you need to commit to something to find your calling

Life 

  • Why you need to commit to something to find your calling: BI
  • Charlie Munger’s 2015 Daily Journal Annual Meeting: Forbes1, Forbes2, Forbes3, Forbes4
  • Don’t Force Decisions; Just Back Off and Adjust. Or Go for a Walk. NYT
  • How You Make Decisions Is as Important as What You Decide: HBR
  • The Art of Evangelism: HBR
  • Old Management Systems Stifle New Business Models: HBR
  • Charlatans exist, in finance (and medicine), because we crave certainty: ReformedBroker
  • Why this CEO believes an MBA is worthless: Fortune
  • Are You OK? Xiaomi CEO’s Awkward English Goes Viral, Sparks Debate: WSJ
  • Manny Pacquiao: Where It All Began; In General Santos, there are signs of the local hero’s success everywhere across the city: WSJ
  • Why Buffett’s Capitalist Woodstock Won’t Endure Like Garcia Jams: bloomberg
  • Ten things I learned studying ten of the world’s fastest growing startups: Quartz
  • How ‘doing the kind thing’ is changing the way we snack and give back one bite at a time: FP
  • The ship of fools and the country of fools; The ship of fools is an allegory ascribed to Plato that describes a captainless ship drifting at sea, carrying deranged and disoriented passengers entirely oblivious to their course: KH
  • LKY: Singapore’s anti-corruption visionary: BT
  • New Spore: Hwa Chong boy boasts loudly on bus about getting teacher fired: AsiaOne

Books

  • The Art of Work: A Proven Path to Discovering What You Were Meant to Do: Amazon
  • Crossing the Unknown Sea: Work as a Pilgrimage of Identity : Amazon
  • The Fire Starter Sessions: A Soulful + Practical Guide to Creating Success on Your Own Terms: Amazon

Investing Process

  • The Continued Rise Of Smart Beta: ETF
  • Endurance International Group: Nasdaq listed web hosting company is a Web of Deceit (Gotham City Research): FT, Gotham
  • Even Financial Pros Choose Indexing for Retirement Savings: Bloomberg
  • Let’s Impair That Goodwill: Techcrunch

AsianExtractor: Unearthing Accounting Fraud in Asia

  • Detecting Accounting Fraud in Asia (Part 4): Introducing Six New Measures: AsianExtractor
  • Sihuan (460 HK) Updates on Audit Delay: Improper accounting treatment in consolidation trick of using MRAs (Market Research Agents) to exclude hidden sales and distribution expenses to artificially boost profits: AsianExtractor
  • China Environment FY2014: Significant Deterioration in Receivables Collectability And No Provision for Impairment: AsianExtractor
  • China Environment (SES: 50U, Bloomberg: CENV SP): Auditor Emphasis of Matter raises more questions on potential accounting tunneling risk: AsianExtractor
  • Open Letter to SGX/MAS: Reply to CFO of SGX-Listed China Environment (CENV SP) on report “Potential Accounting Tunneling Fraud at China Environment?” – Address the accounting and governance concerns in an SGX/MAS announcement: AsianExtractor
  • Does Auditor Explanatory Language in Unqualified Audit Reports Indicate Increased Financial Misstatement Risk? “Emphasis of matter” language predicts restatements + China Environment’s Auditor Emphasis of Matter: AsianExtractor

Greater China

  • Chinese Companies Keeping the Dream Alive with Leverage and Channel Stuffing: Gavekal
  • China gives more say to graft watchdogs in leadership nomination: xinhua
  • China Targets Online Shopping in the Gray Zone; Officials want to thwart tax and tariff evaders whose businesses involve buying foreign goods through the Internet: Caixin
  • Wang Jianlin, a Billionaire at the Intersection of Business and Power in China: NYT
  • Tencent Challenges Google, Alibaba With Own Smartphone Software: Bloomberg
  • The Haier Road to Growth: Strategy&
  • Global Car Makers Get Savvier in China; Nissan, GM, Honda coach Chinese sales forces in mature-market techniques as demand cools: WSJ
  • Mainland China stocks tumble on fresh warning from regulator: SCMP
  • China Quickens $11 Billion Fuel Quality Upgrade Amid Smog Fight: Bloomberg
  • Taiwan Leaps Past Asian Tigers as Economy Upgrades With IPhone: Bloomberg
  • China Is Set to Lose Manufacturing Crown; Manufacturers will be drawn to Southeast Asia’s strengths, including the strategic location and cheap labor of Myanmar, Cambodia and Laos: Bloomberg
  • Apple IPhones Sales in China Outsell the U.S. for First Time: Bloomberg
  • Walmart accelerates China expansion: FT
  • China’s rainmakers head for cover; Investment banks are feeling the strain in the light of post-financial crisis regulation and costs: FT
  • Investors in China want more big money SOE mergers: WCT
  • Rule No. 1 in China’s Bull-Market Rally: Don’t Look at Earnings: Bloomberg
  • A Chinese LTRO: the trouble with market based financing continues: FT
  • Beijing Fuels Bull Run to Bail Out China Inc.; A focus on policy before profits means investors should be wary of more money printing and mega mergers.: Barron’s

India

  • Chinese come calling: At $5 bn valuation, Alipay to buy 25% stake in Micromax: Indiatimes
  • Financial Inclusion: How Banking Is Coming to India’s Countryside; India is using subsidies to bring more people into the financial system: WSJ
  • Bandhan: new bank with unlikely head start on Indian billionaires: FT
  • Inox: The wind beneath its wings; From industrial oxygen to refrigerant gases, chemicals to cinema exhibition, the Inox Group has diversified its portfolio over the last five decades: Forbes

Japan & Korea

  • Japanese M&A Overseas Takes Off; Shrinking market at home, ample cash, bring deals; WSJ
  • Toyota Tests Unique Stock to Draw Long-Term Investors: Bloomberg
  • Why Japan is vulnerable; Foreign inflows could trigger spike in rates which would hit its banks: FT
  • Amorepacific’s Sulwhasoo takes global beauty market by storm: KT
  • Q&A: Sony CEO Kazuo Hirai Says Company Must Evolve: WSJ
  • How Sony Makes Money Off Apple’s iPhone; Image sensors for Apple, Samsung fuel Japanese consumer-electronics giant’s turnaround strategy: WSJ

ASEAN

  • Currency Hedge Catch-22 Confounds Indonesia as Rupiah Swings: bloomberg
  • Surf, Sand and Software Turn Danang Into Vietnam’s ‘It’ City: Bloomberg
  • Malaysian oil and gas services provider Icon Offshore Bhd execs get 6-month leave to assist ongoing investigations by the Malaysian Anti-Corruption Commission (MACC).: TheStar

Macro

  • SEC is investigating whether Bank of AmericaCorp. broke rules designed to safeguard client accounts, potentially putting retail-brokerage funds at risk in order to generate more profits: WSJ
  • The Collapse of a Huge For-Profit College Company Could Cost Taxpayers $200 Million: Bloomberg
  • Negative Rates Are Turning This Corner of the Credit Market Crazy; Negative rates mean zero percent interest for investors in securitized debt: Bloomberg
  • Gundlach Weighs 100-Times Levered Bet Against German Bonds: Bloomberg
  • Goldman Sachs says Australia at risk of losing AAA rating: TheAge
  • Negative interest rates put world on course for biggest mass default in history; More than €2 trillion-worth of eurozone government bonds trade on a negative interest rate. It’s a bubble that is bound to end badly: Telegraph
  • SEC Is Set to Propose New Rules on Executive Compensation; Proposal makes it easier for investors to determine whether pay aligns with a firm’s financial results: WSJ

Energy & Commodities

  • Deflation? Oil’s 45 percent rebound could be markets’ next headache: Reuters
  • Oil-Sand Woes Set to Deepen as Shaky Petro-Dynasty Risks Defeat: Bloomberg
  • For Sale: Used Oilfield Machinery; Firms try to unload equipment after collapse in oil prices and U.S. drilling: WSJ
  • The Oil Rally Looks Doomed, in Five Charts: Bloomberg

Healthcare

  • The Biggest Chicken Seller in the U.S. Is Eliminating Antibiotics; Tyson Foods will stop using human antibiotics in its broiler chickens by 2017; Bloomberg

TMT

  • Amazon Business Aims for $1 Trillion Corporate-Spending Market: Bloomberg
  • Psychonalyzing Comcast; Why the company persists in a business model that reaps political and commercial blowback. WSJ
  • Tesla’s Next Big Idea: Storing Power; Giant factory in Nevada would use excess capacity to make industrial batteries to hold electricity: WSJ
  • In Advertising Battle, TV Fights Back Against the Web; Networks say ad targeting is improving and audience size tops Internet: WSJ
  • F1 technology moves into the supermarket fridge: Reuters
  • The Math Behind ESPN’s Fear of Verizon’s Skinny Bundles: Bloomberg
  • Analyst Says Apple Will Go to $195 and That the Watch Will Be Its Best-Selling New Product Ever: Bloomberg
  • Elon Musk Bulks Up Tesla Batteries in Leap Beyond Cars to Grid: Bloomberg
  • Soaring Results Drive Sky-High Returns for the Cloud’s Biggest Billionaires; Cloud computing is a big winner this earnings season: Bloomberg
  • Media: Comcast’s next act; After Brian Roberts’ $45bn bid for Time Warner Cable was blocked, will he move to counter the internet upstarts?: FT
  • Music Startup Jukely Pulls In $8 Million To Expand Its Concert Subscription Service: Techcrunch
  • Contextly Builds A Button For Following Breaking News: Techcrunch
  • Imgur: A viral content empire; Alan Schaaf transformed a simple file uploader into a viral content empire. Now he has to turn Imgur into a business: Forbes
  • This $3 billion game franchise crashed and burned five years ago-but now it’s back. Here’s why.: Fortune
  • The long and quiet history of Tesla’s grid batteries: Fortune
  • A Recharge for Qualcomm From an Activist Hedge Fund: Barron’s

Consumer & Others

  • Cars to be fitted with automatic emergency calling from mid-2018: Reuters
  • Lululemon’s men’s clothing line has one big problem: the company’s curvy logo: FP
  • Proxy advisory firm gives Magna International Inc first thumbs-up on executive pay since Stronach era: FP
  • Air conditioning use poised to spike worldwide: AFP
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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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