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