Bamboo Innovator Daily Insight: 6 May (Wed) – 7 Important Life Lessons Everyone Learns the Hard Way. What Is Your Purpose? We need to forge new ways to seriously discuss the deepest questions in life with modern tools

Life

• What Is Your Purpose? We need to forge new ways to seriously discuss the deepest questions in life with modern tools. NYT
• 7 Important Life Lessons Everyone Learns the Hard Way: Marc&Angel
• The $112 Billion CEO Succession Problem: Strategy&
• The growing business of detecting unconscious bias: FastCo
•  The New Rules for Growing Outside Your Core Business: HBR
• Growing by adapting at speed; How do companies stay ahead when everyone is accelerating? Not by merely adapting to changing conditions, but by doing so quickly and decisively: McKinsey
• Singapore PM Lee Hsien Loong shares source code for Sudoku project: e27
• Walmart CEO: Waiting for consensus “can kill you”: Forbes
• In face of IS successes, al-Qaida adapts, grows stronger: ChinaPost
• 52 Years and Counting: America’s Longest-Serving CEOs: WSJ
• In ‘Misbehaving,’ an Economics Professor Isn’t Afraid to Attack His Own: NYT

Books

• The Improbability Principle: Why Coincidences, Miracles, and Rare Events Happen Every Day: Amazon

Investing Process

• What questions were asked and answered during the 50th annual Berkshire shareholders meeting 2015: SCMessina
• Hewlett-Packard unveils details of $5bn Autonomy fraud case; HP says it overpaid by $5bn for Autonomy: Guardian, Telegraph, FT
• The strange case of Ashazi: Wirecard in Bahrain, via Singapore: FT
• Origins of Chinese Bond Default Buried in Accounting Footnotes: Bloomberg
• Efficient Inefficiency: The Oxymoron That Explains the Investing World: AQR
• Secret Shorts: Nameless Naysayers Shake Markets in Twitter Age: Bloomberg

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

• Bow To Your Billionaire Drone Overlord: Frank Wang’s Quest To Put DJI Robots Into The Sky: Forbes
• How Chinese Oligarchs Used Fake Trade Invoices To Launder Almost $1 Trillion Globally: Zerohedge
• China’s hobbled medical care system thwarts online medicine: WCT
• Chinese auto firms turn to big data to help build new vehicles: WCT
• 10 Years After IBM Buy, Lenovo Looks For New Relevance: Forbes
• Dongfeng and FAW shares suspended amid reports of possible merger: FT
• Shanghai bans officials’ relatives from running private businesses: FT
• China’s New Investment Hype: Soccer Stocks: Forbes
• China and a friendly reminder to keep watching those capital outflows: FT
• Plunging China trade loans test Singapore banks: Reuters
• Alibaba’s Slowing Growth in China Costs Investors $70 Billion: Bloomberg
• Tea to tech: China’s cybersecurity push sparks a ‘gold rush’: Reuters

India

• Corporate discord brews in India as Narendra Modi’s sheen dulls; Confusion remains over the prime minister’s vision for business: FT
• Select home. Add to cart: Renting and buying homes online have portals and investors excited. But no one’s making money yet: Forbes
• Why the Madura-Pantaloons merger makes sense: Forbes
• Indian tax authorities suffered a setback in their efforts to impose a so-called minimum alternative tax (MAT) on foreign investors, as UK-based Aberdeen Asset Management (ADN.L) won temporary relief from a tax bill it was facing: Reuters

Japan & Korea

• Doosan Group rose from humblest of beginnings; Oldest conglomerate began with ‘packman’ founder peddling wares: JA
• Tycoon’s suicide highlights rampant corruption in Korea: KT
• ‘Ransomware’ affecting PCs in Japan: JT
• Nintendo’s Super Plan to Make Smartphone Games; The maker of Super Mario Bros. and other hits is finally bringing its games to the smartphone. Barron’s
• Japan Pushes Big Companies to Pass Yen Benefits on to Suppliers: Bloomberg

ASEAN

• More than a fifth of an estimated 250 mainboard-listed stocks trading below 20 cents have proposed consolidations to comply with the Singapore Exchange’s new rule aimed at curbing speculation and market manipulation: ST
• War, peace and Coca-Cola in Vietnam: Hana Dang is one of her country’s top female entrepreneurs: FT
• Ire-Tex auditors give qualified opinion due to impairment of related-party receiavbles an advanecs: TheStar

Macro

• Pimco vs Vanguard: numbers tell the story: FT
• Mergers and acquisitions boom driven by ‘jumbo’ deals: FT
• The New Entrants to the Frothy Late-Stage Private Financing Market: WSJ
•  ‘Ghost Malls’ Haunt Brazil; A number of malls that opened in the past few years are riddled with high vacancy rates, low traffic and anemic sales: WSJ
• Buffett and Ackman Hate U.S. Bonds and the Losses Are Piling Up: Bloomberg

TMT

• How Digital Leaders Outperform Their Peers: Strategy&
• Why Apple wants to end the era of free music streaming: BI
• Apple has an amazing opportunity to completely change TV if it uses this model: BI
• Here’s why Apple sees a huge opportunity for Apple TV: BI
• Google Ventures partner compares failed startup Secret to ‘a bank heist’: BI
• Slack’s $2.8 Billion Dollar Secret Sauce; How Slack stole a multi-billion dollar market by becoming everyone’s favorite sassy robot sidekick.: Medium
• This Dutch travel portal clocked US$105M annual turnover in just 5 years: e27
• There’s an Uber for Everything Now; Apps do your chores: shopping, parking, cooking, cleaning, packing, shipping and more: WSJ
• How 3-D Printing Is Saving the Italian Artisan; Italy’s craftsmen turn to a new tool in their competition with cheap products from China: Bloomberg
• Google Sees Automated Flight Going ‘All the Way’ to Airlines: Bloomberg

Energy & Commodities

• The House of Saud’s embryonic embrace of meritocracy: FT
• Norway’s $900 Billion Fund Might Stop Getting Fresh Cash; New capital transferred into the nation’s sovereign wealth fund is falling: Bloomberg
• Never Mind Oil, Iran’s About to Shake the World Pistachio Market: Bloomberg

Healthcare

• Bill Ackman: Valeant could be the next Berkshire Hathaway: Fortune

Consumer & Others

• McDonald’s attempts a turnaround: Selling franchises and reorganising foreign markets might not be enough to turn things around: Economist
• Nike blew the door wide open for Under Armour’s success: BI
• McDonald’s may struggle to replicate British success: FT
• Cosmetics Industry Applies Asian Trends to West; Cosmetics Industry Applies Asian Trends to West: WSJ