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Bamboo Innovator Daily Insight: 5 May (Tues) – The Philosophy of Warren E. Buffett

Life

  •  The Philosophy of Warren E. Buffett: NYT
  • Meet the father-son team making $1.3 million on YouTube; 9-year-old Evan and his dad have turned their love of toys into a seven-figure YouTube business: FastCo
  • A neuroscientist explains how being aware of your emotions can make you super-productive: BI
  • Here’s what Warren Buffett told a 7th grader who asked for his advice: BI
  • Berkshire’s Warren Buffett Shows His Teddy Bear Image Has Tough Side: NYT
  • Kick forced ranking out of the office; Ignore Jack Welch: Yahoo’s quarterly reviews show how employee ‘leagues’ cause turbulence: FT
  • Art of the Japanese company apology: It’s all in the bow: JT
  • Inside the school Silicon Valley thinks will save education: Wired
  • Restoring Humanity to Leadership: Insead

Investing Process

  • Warren Buffett versus the hedge funds; With three years to go, Warren Buffett is comfortably winning his charity bet that a low-cost index tracker would trounce a portfolio of hedge funds over ten years. FT
  • Notes From The Berkshire Hathaway 50th Anniversary Meeting: VW

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

  • China Oil Industry, Experts Resist Proposal to Merge Companies: WSJ
  • Warren Buffett said China’s stock market will perform well in the next two to three years since the country’s population had “found a way to unlock their potential.”: ECNS
  • China to let 100 think-tanks bloom; Move towards US model of policy advice independent of ministries: FT
  • Brokerages in China tighten margin loans: WCT
  • Frank Wang, founder of global drone giant DJI: WCT
  • China’s ‘migrant miracle’ nears an end as cheap labour dwindles: FT
  • China migration: At the turning point; A shrinking labour force from rural areas is driving huge economic change: FT
  • China Insuring $16 Trillion Deposits Means More Bond Risk-Reward: Bloomberg
  • Taiwan Top Fund Manager Sees Rally Toward Record Before Vote: Bloomberg
  • Global Bondholders Caught in China Cement Consolidation Push: Bloomberg

India

  • India’s Debt Pile Up Complicates Growth Plans; Infrastructure companies key to India’s prospects already loaded down with heavy debt loads: WSJ
  • World’s Worst Air Spurs Modi’s $25 Billion Utility Clean-Up Push: Bloomberg

Japan & Korea

  • South Korea set to demolish slum in the shadows of glitzy Gangnam: Reuters
  • Rice cooker roulette? South Korea casinos court China’s ‘low-rollers’: Reuters

ASEAN

  • Singapore Wants Kids to Skip College: Good Luck With That: Bloomberg
  • Indonesia’s Slowing GDP a Wakeup Call for President Widodo: Bloomberg

Macro

  • Exchanges urged to do more to oust tricksters; The renowned freewheeling and aggressive environment of futures trading is now firmly under the microscope with the industry keen to show it can still police itself. FT
  • Private equity looks for life beyond the leveraged buyout; Online rivals, the end of cheap debt and venture capital groups threaten model: FT
  • From Cara Operations Ltd to Shopify Inc: Why dual class shares are suddenly cool again: FP
  • Liquidity drought could spark market bloodbath, warns IIF: Telegraph
  • Nonbank Lending’s Shadow Grows in Asia; Regulators worry, but say the systemic risk is smaller than in the U.S. or Europe: WSJ
  • Buffett Says He’d Short 30-Year Bond If Could Be Done Easily: Bloomberg
  • Vanguard Claims Title of World’s Largest Bond Fund; Fund overtakes Pimco’s Total Return following outflows in wake of Bill Gross’s departure: WSJ

TMT

  • Start-Ups Try to Challenge Google, at Least on Mobile Search: NYT
  • Meet Australian company IP-Echelon, one of the biggest anti-piracy operations in the world: TheAge
  • As Menulog seeks $500m sale, a commission-free competitor calls a bubble: BRW
  • A New Breed of Rapid-Delivery Apps Cuts Through Urban Congestion; In São Paulo, startup Loggi has an app that makes life easier and more lucrative for package-toting couriers, while customers get their goods faster: WSJ
  • How Hulu’s Smaller Distribution Is An Advantage: WSJ
  • The New Bookkeeper Is a Robot; In corporate finance departments, software does tasks that once took armies of people: WSJ
  • TomTom CEO says its maps destined for use in self-driving cars: Reuters
  • The path to a wearable future lies in academia: Reuters

Healthcare

  • Global spending on cancer drugs surges to $100bn: FT
  • Maple Syrup: New Way to Fight Antibiotic-Resistant Bacteria?; Concentrated extracts of maple syrup combined with antibiotics reduced the growth of four common bacterial strains: WSJ

Consumer & Others

  • A teen retailer that sells everything for under $5 is becoming a huge threat to dollar stores: BI
  • McDonald’s revival recipe leaves investors hungry for more; New chief vows to create a ‘progressive burger company’: FT
  • From egg to omelette: Sunny Queen spends $23m to crack higher-value market: BRW
  • McDonald’s to Speed Refranchising, Cut Costs: WSJ
  • Upstarts Eat McDonald’s Lunch; Fast food and fast money mix with Noodles & Co., Potbelly and others as McDonald’s flounders. WSJ
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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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