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Bamboo Innovator Daily Insight: 4 May (Mon) – The most brilliant things Warren Buffett and Charlie Munger said at Berkshire’s annual meeting

Life

  • The most brilliant things Warren Buffett and Charlie Munger said at Berkshire’s annual meeting: BI
  • How To Win Like PayPal Co-founder Peter Thiel: Six Of His Rules for Business Success: Forbes
  • Charlie Munger – Part Nine: Colorful Charlie And The Cinderella Principle: VW
  • 40 Busy Years Later, Paul Allen, a Microsoft Founder, Considers His Creation: NYT
  • Warren Buffett forced to defend relationship with Brazil’s 3G Capital: FT
  • Fantastic words with no easy translation in other languages: Quartz
  • How To Get Smarter: barker

Investing Process

  • Hang Seng warrants: traders complain; In 3 letters to SGX and MAS, they allege Macquarie’s pricing is “unfair” and “erratic”, with warrants often not moving in line with underlying index: BT

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

  • This Listed Chinese Company Says It Won’t Stand By Its Own Earnings Report: WSJ
  • In China’s Bond Market, Something Worse Than A Default: Forbes
  • Spring Airlines’ billionaire-on-a-budget is prepared to spend more on Japan; The frugal founder and president of Spring Airlines believes firmly in the untapped market potential for air travel between China, Japan and Korea: SCMP
  • Contract manufacturers moving out of China: WCT
  • Super-mega SOEs are the goal of China’s economic reforms: WCT

India

  • Why India is biometrically tracking its government bureaucrats: CNN

Japan & Korea

  • Monday interview: Hwang Chang-gyu, KT chief executive; After Samsung fame, the South Korean attempts telecoms turnround: FT
  • K-Wave boosts economic growth; The economic effect of the so-called Korean Wave, or Hallyu, was estimated to be 12.6 trillion won ($11.6 billion) in 2014: JA

ASEAN

  • LME fines Singapore trader CWT for metal warehouse rule breaches, but bigger issue haunts ties with large operators: SCMP
  • Thai transfer pricing on the verge of new era with new laws in the near future; Under the proposed TP rules, taxpayers will be required to prepare “contemporaenous” TP documentation to evidence their transfer prices are at arm’s length: Nation
  • Foreign investment surges into Vietnamese retail: FT

Commodities & Energy

  • LME swats a warehousing fly, but what about the tigers? : Reuters

TMT

  • Dumb ‘Smart’ Gadgets: The Bubble Is Set to Burst; Startups devote funds, brain power to making everyday objects ‘smart,’ but a shakeout will likely leave few standing: WSJ
  • As Vice Moves More to TV, It Tries to Keep Brash Voice: NYT
  • The (very) big fight for the small screen; A rising class of Internet video companies is challenging the supremacy of broadcast TV-and they’ve come with a list of 10 Totally Awesome Reasons Why They’re Doing It Wrong. Fortune
  • Icahn calls Apple a rare 50-year success: FT

Consumer & Others

  • McDonald’s faces ‘show me’ moment with new CEO strategy: Reuters
  • Australia’s Domino’s Plans Uber-Style Pizza Delivery Driver Tracker: WSJ
  • How Toms made hundreds of millions of dollars by giving shoes away; Social enterprise founder explains ‘one for one’ philosophy: Telegraph
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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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