Bamboo Innovator Daily Insight: 13 May (Wed) – Gates: 50 Years of Warren’s Wisdom; Marc Andreessen paid a midnight visit to the founders of Airbnb that ‘changed the company forever’; From pumping gas to a $6 billion fortune — the impressive rags-to-riches story of Forever 21′s husband-and-wife cofounders

Life

• 50 Years of Warren’s Wisdom: GatesNotes
• Marc Andreessen paid a midnight visit to the founders of Airbnb that ‘changed the company forever’: BI
• From pumping gas to a $6 billion fortune — the impressive rags-to-riches story of Forever 21′s husband-and-wife cofounders: BI
• Mr HDB Mr Lim Km San: He proved HDB critics wrong: AsiaOne
• Warren Buffett tells Bill Gates why he’s such an optimist: BI
• How playing World of Warcraft every day for a year led Robert Hohman to found a US$1 billion start-up: SCMP
• A UK productivity evangelist with eyes on £300bn prize; John Neill believes ‘Unipart Way’ can help UK business compete: FT
• Bill Gates, Andy Grove and Steve Jobs: The Strategies They Shared: NYT
• What the Starbucks CEO Learned from Gen. McChrystal: Generalship is more like gardening than playing chess says the man who tracked down Saddam Hussein and al-Zarqawi.: WSJ
• To Win People Over, Speak to Their Wants and Needs: HBR
• What sets LeBron James truly apart? His mind. Fortune
• The incredible life of Jimmy Choo founder Tamara Mellon: BI
• CEO: How a small shift in my language opened up massive growth opportunities: BI
• What Is Strategy, Again?: HBR
• Schwarzman: Harvard Admitted Rejecting Me Was a Mistake: Bloomberg
• Elon Musk’s childhood was ‘excruciating’ and he got beaten up a lot: BI
• Comic book writer explains how she gets paid to make people uncomfortable: BI
• 10 proven tactics for reading people’s body language: BI
• Google has a secret apartment where Larry Page and Elon Musk meet to discuss crazy ideas about the future: BI
• The world’s lust for new technology is creating a ‘hell on Earth’ in Mongolia: BI
• Banks Rethink Common Sales Tricks: Long-acceptable trading tactics on Wall Street become potential criminal offenses: WSJ
• Buddhist Monk in Thailand Relies on Karma for Lending Success; Microlender sets interest according to borrower’s good deeds, avoids defaults with neighborly peer pressure: WSJ
• ‘Revolution of the Eye: Modern Art and the Birth of American Television’ Review: WSJ

Books

• Team of Teams: New Rules of Engagement for a Complex World: Amazon

Investing Process

• Detailed Notes From Berkshire Shareholder Meeting 2015: Gurufocus1, 2
• SEC Charges ITT Educational Services, Top Executives With Fraud; For-profit educator allegedly hid poor performance, financial impact of student-loan programs: WSJ
• It’s Rothschild vs. Widjaja: Superrich Battle Over Indonesia Coal Mine; Wealthy families from opposite sides of the world offer competing plans to restructure debt of Indonesian coal miner: WSJ
• SEC Receives At Least One Audit Independence Query Daily: WSJ
• Diamond Hill Launches First ETF: Barron’s
• Index funds killed the mutual fund star; Only four funds have beaten the S&P 500 for the last eight years: Marketwatch
• How Overconfident CEOs Could Take Down the Firm: K@W
• Vertical Integration 2.0: An Old Strategy Makes a Comeback: Strategy&
• Why multi-factor funds are smarter beta? A fascinating new take on an old strategy tries to beat the market for longer: FT
• Index based on social media sentiment gives new weight to tweets: InvestmentNews

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

• The start-up frenzy gripping China: BusinessSpectator
• Why Asia’s Richest Man Wang Jianlin Is Investing $10 Billion In America: Forbes
• China’s Stock-Market Boom Won’t Erase Bad Debts; The wrong companies are taking advantage of China’s frothy markets to sell new shares: WSJ
• China’s liquor kings stomach record short-term debts owed by distributors and relearn trade after clampdown on lavish spending: AsiaOne
• WeChat is Tencent’s ace in China’s online entertainment race: Reuters
• Fridge magnate: Zhang shifts Haier focus for wireless age: Reuters
• China, when a hot money outflow threatens to become a torrent: FT
• Yan Tat (1480 HK) hit amid `pump and dump’ fear : Standard
• Psychiatry and Buddhism trending as China seeks inner peace: WCT
• Quantity doesn’t equal quality in China’s robotics industry: WCT
• Big data helped Gome sell 80,000 iPhone 6 units in a day: WCT
• With Xiaomi Deal, Midea Bets on Smarter Future: Caixin
• hina is launching a broad stimulus to help local governments restructure trillions of dollars in debts while prodding banks to lend more, as fresh data added to signs of a worsening slowdown : WSJ
• Li Ka-shing’s new property unit Cheung Kong Property Holdings is valued at $54 billion: Nikkei
• Zhao Wei nets $101m from investment as China stocks soar: AsiaOne
• China Convinces Mobius It’s Ready for MSCI: Bloomberg
• Air Bubble Shield For Dangerous Smog To Be Tested In Beijing: Bloomberg
• Rush of Chinese Money on Hong Kong Bourse Spurs Tax Windfall; Hong Kong imposes a 0.1 percent tax on the purchase or sale of stocks. The levy generated 9 percent of the city’s revenue in the 2013-14 tax year : Bloomberg
• Bosses to Billions: Xi Meeting Modi Revives Faded Chindia Dream: Bloomberg
• Fridge magnate: Zhang shifts Haier focus for wireless age: Reuters
• WeChat is Tencent’s ace in China’s online entertainment race: Reuters
• Now for the Clean-Up: China Crafts Solution for Local-Debt Mess: Bloomberg
• Banishing Ghosts But Looking for Life: A Chinese Ghost City Two Years On: NYT

India

• Online Groceries in India: Will Consumers Bite?: K@W
• India may not be the El Dorado Chinese handset makers believe: WCT
• After one year Modi’s India has sparks but no boom; The central bank governor is openly sceptical of the official data: FT
• India should carve its tax code in stone; A company thinks it has settled its bill, next minute it is being hit for billions in retroactive levies: FT
• It’ll Take More Than $4 a Day to Improve Life for India’s Workers: Bloomberg
• This Woman Helped Build A New Indian Stock Exchange. Now She Runs It: Bloomberg
• One Year In, Modi Euphoria Fades Along With Indian Stocks: Bloomberg

Japan & Korea

• After Galaxy Smartphone Debacle, Samsung Questions Game Plan; Heir apparent is likely to rethink his father’s big-scale strategy; the iPhone 6 challenge: WSJ
• What to Know About Samsung: WSJ
• LG to nurture beauty, bio start-ups; Group shares 52,000 patents with venture firms through regional creative economy center: KH
•  Japan wants its high-tech toilets to conquer the world: Quartz
• Samsung Seeks to Make Own Components Core of Internet of Things: Bloomberg

ASEAN

• “1 out of 3 Samsung phones are made in Vietnam”: e27
• Singapore developers face competition from home sellers in slow market: Reuters
• Masteel shares suspended for failing to submit audited accounts: Star
• China auto giant SAIC Motor to invest up to RM1b in Malaysia’s AP King’s commercial vehicle arm; Syed Azman is known as the “AP King” for his dominance in bringing in imported vehicles under a franchise approved permit system: Star
• Indonesia to tighten corporate debt financing rules: Reuters
• Indonesia’s “cocoa doctors” may help avoid looming supply crunch: Reuterss
• Mooted Hong Kong-Taiwan stock link runs into wall of scepticism: reuters

Macro

• After Scandals, Evaluating Pension Funds’ Middleman; former Calpers CEO steered more than $3 billion in funds to the private equity firm Apollo Global Management after being bribed by a placement agent firm : NYT
• This is €1trn less nuts: Europe has “lost” almost €1tr of negative yielding assets in the last month.: FT
• Dollar v EM currencies: which will win?: FT
• Bond Market Meltdown Deconstructed: Five Charts That Explain Why: Bloomberg
• Does Picasso Sale Signal a Top for Stocks?: Bloomberg

TMT

• Airbnb grows to 1 million rooms; Airbnb now has more places to sleep than hotel giants like Marriott and Hilto: TheAge
• Facebook Begins Testing Instant Articles From News Publishers: NYT
• Moore’s Law Turns 50: At 86, the man himself looks back at some of the predictions he made and how they have held up. NYT
• Here’s how Marc Benioff tested Satya Nadella before deciding to cozy up with Microsoft: BI
• Main Street Portfolios Are Investing in Unicorns: NYT
• Mobile Apps Get Picked Up by Independent Truckers for Better Routes: WSJ
• CIO’s Role Is (Mostly) All Business: WSJ
• Coming Soon to Your Smartwatch: Ads Targeting Captive Eyeballs: Bloomberg

Healthcare

• Drug-resistant ‘superbug’ strain of typhoid spreads worldwide: Reuters
• A Top Cardiologist Says A Diet Drug Maker Misled Patients And Investors: Forbes
• Jennifer Doudna, a Pioneer Who Helped Simplify Genome Editing. But she is stuck in a patent fight over it.: NYT
• The iPhone’s next big thing: Force Touch, Apple’s patented technology for creating the tactile illusion of a pressure-sensitive screen: Fortune

Healthcare

• Valeant Pharmaceuticals International Inc. is becoming the 800-pound gorilla of the TSX — and that should worry index investors: FP
• GlaxoSmithKline chief seeks immunity from sector’s herd mentality: FT
• How DNA sequencing is transforming the hunt for new drugs: Reuters

Energy & Commodities

•  Fear of Ruin as Disease Takes Hold of Italy’s Olive Trees: NYT
• IEA: OPEC Battle for Oil Market Share Just Beginning: WSJ
• Oil glut worsens as OPEC market-share battle just beginning: IEA: Reuters
• Oil’s Not Coming Back. Here’s Why: Bloomberg
• $100 Oil Long Gone Puts Norway Closer to Plundering Wealth Fund: Bloomberg

Consumer & Others

• Starbucks is poised to become the next McDonald’s: BI
• Wegmans is a great grocery store because it’s a great employer: Quartz
• Autonomous cars will destroy millions of jobs and reshape the US economy by 2025: Quartz
• Back to the Future: GE’s Retooling into an Industrial Powerhouse: K@W
• Jay H. Baker: How Kohl’s Carved Out a Retail Niche: K@W
• How Sephora fights fakes in China: Fortune
•  Lego made 3 changes that saved its business from bankruptcy and made it the world’s most powerful toy company: BI
• T.J. Maxx is beating the competition by focusing on one thing: creating a treasure hunt for shoppers: BI
• Restaurants’ Secrets to Keeping VIP Diners Happy; Databases, clandestine food deliveries and other ways to please big-spending repeat customers: WSJ
• Domino’s: Order your pizza via a tweet emoji: CNN