Bamboo Innovator Daily: 23 May (Sat) – Lessons From a Buffett Believer; Why Do We Experience Awe? Because it moves us to do things for the greater good

Life

• Every Man an Archimedes; Insights can seem to appear spontaneously, but fully formed. No wonder the ancients spoke of muses. WSJ
• Why Do We Experience Awe? Because it moves us to do things for the greater good: NYT
• 13 of the best graduation speeches of all time: BI
• Lessons From a Buffett Believer: WSJ
• Think different: Yancey Hai left a 21-year career in banking for power systems maker Taiwan’s Delta Electronics, and has not looked back.: BT
• Watch Robert De Niro tell graduates about dealing with rejection: Quartz
• Bouncing off Tharman’s trampoline: BT
• Elon Musk didn’t like his kids’ school, so he made his own small, secretive school without grade levels: BI
• 10 innovation lessons inspired by Homer Simpson: FP
• Embracing Disruptive Change: Why Is it So Difficult? WSJ
• What Google looks for in entrepreneurs when it’s thinking about acquiring a company: BI
• How Discovery keeps innovating; CEO Adrian Gore describes how the South African company has been shaking up its industry through business-model innovation and explains what helps to catalyze new ideas. McKinsey
• Inside “(Dis)Honesty – The Truth About Lies.”: Forbes
• Signs That You’re Being Too Stubborn: HBR
• Notes To The Charlie Rose 3 episode interview of Warren Buffett: RBCPA
• Revealing Seven Personality Traits That Have Made Warren Buffett A Cheerful Billionaire: VW
• Buffett in WSJ Op-Ed: Better Than Raising the Minimum Wage: Help Americans who need it with a major, carefully crafted expansion of the Earned Income Tax Credit: WSJ
• SEC Commissioner Stein Says Overlooking Bank Criminal Activity Will Lead To Further Criminal Activity: VW
• A new startup thinks it can stop Wall Street cheaters by monitoring how much traders laugh: BI
• Meet the real-life ‘Wolf of Wall Street’ Instagrammer who claims he can turn your ‘pennies into millions’: BI
• A Life-Changing Guide for Emotionally Sensitive People: TinyBuddha
• Retelling Another Person’s Story Can Make It Your Own; Repeatedly retelling an incident can trick your brain into believing it was your own experience: WSJ
• A great leadership reading list — without any business books on it: WaPo
• Proof of Cheating Casts Pall Over the SAT: Barron’s
•  Psychologist says this key skill can make people highly effective leaders: BI
• Interview: M&A advisers Michael and Yoel Zaoui; Brothers Michael and Yoel have advised on takeovers worth $152bn in two years and changed the fate of business empires: FT
• What’s Behind Big Science Frauds?: NYT

Books

• The Emotionally Sensitive Person: Finding Peace When Your Emotions Overwhelm You : Amazon
• The Good Struggle: Responsible Leadership in an Unforgiving World: Amazon
• Defining Moments: When Managers Must Choose Between Right and Right : Amazon
• Leading Quietly: Amazon

Investing Process

• Hanergy: Bulk of Stock Collapse Occurred in Less Than a Second; Trading pattern echoes similar move seen in May 2010 ‘flash crash’: WSJ
• Li Hejun, a solar billionaire feels the heat; A market plunge of less than an hour dethroned mainland China’s richest man, writes Lucy Hornby: FT
• A Glimpse At The Market Endgame: How China’s (Formerly) Richest Man Crashed His Own Stock When He Tried To Sell: Zerohedge
• Did Anti-Corruption Campaign Lead To Plunge In Hanergy Shares? VW
• How the Rosewall family’s stockbroking company BBY collapsed; BBY Nominees is a principal account that was used by the company for BBY’s own trading activities. TheAge
• CalPERS gives its managers ESG ultimatum; In what promises to be a transformational moment for ESG integration and investment manager accountability, CalPERS will require all of its managers to identify and articulate ESG in their investment processes: top1000funds
• Sanjay Bakshi Discusses Contrarian Investing: VW
• 10 Influential Investor Lessons You Can Benefit From Today: Endlessrise
• Why Peltz Didn’t Have Icahn’s Apple Touch; Activist’s failure to win a board seat at DuPont might have had something to do with the incentives of passive investors: WSJ
• Seven Lies Investors Tell Themselves: WSJ
• FT Weekend 30: Thirty years of FT Money: FT

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

• HK watchdog on defensive after $36bn Hanergy and Goldin losses: FT
• China bets on expanding its way out of debt; Latest data show credit squeeze risks morphing into a credit crunch: FT
• China’s Tulipmania Full Frontal: Shenzhen’s Parabolic Stocks Just Hit 67x P/E: Zerohedge
• In Fight Against Fakes, Alibaba Works With Israeli Startup To Assign Digital ID To 10 Bln Products: Forbes
• China margin trading balance balloons to record high; Chinese investors’ borrowing to trade on the country’s stock markets has surpassed 2 trillion yuan for the first time: Yahoo

India

Japan & Korea

• Toshiba’s broader probe exposing deep-rooted governance issues: Nikkei
• Toshiba’s push for infrastructure may be factor in scandal: Nikkei
• E-commerce giant Rakuten has managed to do what the educational system apparently can’t — get Japanese people to speak English competently: JT
• Phone users in Japan still paying for plenty of stuff they don’t need: JT

ASEAN

• As graduate numbers grow in Singapore, a hard truth: Not all degrees are equal: TODAY
• Heat is on for PE funds to derive value in S-E Asia: Bain; there remains too much private-equity (PE) money chasing too few deals in South-east Asia; BT
• A year after Thai coup, stability trumps growth for business: Reuters
• Lower auditing standards seem to have been applied in 1MDB: Star
• 1MDB’s cash crunch; The recipe for the downfall of any company is taking on short-term debt to fulfil long-term projects. : AsiaOne
• Proposed ban on cigarette TV ads hits stocks of Indonesian media firms; Cigarette advertisements contribute 6-7 percent to Surya Citra’s total advertisement sales: Reuters

Macro

• 572 Reasons Why The Fed Is Terrified To Hike: “One Rate Cut Every Three Trading Days”: Zerohedge
•  Good times fade away: compliance holds sway in forex trading: FT
• Risky Loans Shunned by Banks Are Booming in Wall Street’s Shadow: Bloomberg

TMT

• Disney: Let it grow; Bob Iger boldly bet on media content when he bought Pixar, Marvel and Lucasfilm — and it looks like money well spent: FT
• Buzz Is No Substitute for Real News; Journalists have rightly discarded the technology of the past, says a 50-year veteran, but the old standards still apply: WSJ
• Five Top Venture Capitalists Name The Top 10 Tech Trends Of The Next 5 Years: Forbes
• This $1 billion Swedish payment company thinks it can save newspapers: BI
• Overvalued in Silicon Valley, but Don’t Say ‘Tech Bubble’;  “I guess it is a scary word because in some sense no one wants it to stop. And so if you utter it, do you pop it?”: NYT
• As Chromebook Prices Fall, Market Leader Acer Resists; Some cheaper brands use a cut-rate processor designed by China-based Fuzhou Rockchip Electronics. Those are likely to run more slowly than the Intel Celeron processor: Forbes
• Spotify Wants You To Run Harder, Better, Faster, And Stronger: Forbes
• Audi will enhance Chinese connected-car services with Baidu: Reuters
• The Inside Story of How the iPhone Crippled BlackBerry; ‘Losing the Signal’ examines Research In Motion’s efforts to take on Apple’s game-changing smartphone: WSJ
• Amazon Targets Etsy With ‘Handmade’ Marketplace: WSJ
• Why Wal-Mart’s E-Commerce Group Embraces Open Source: WSJ
• Can Netflix make your TV smarter? With Netflix recommended TVs, the streaming company is helping manufacturers make their products as easy to use as, well, Netflix. FastCo
• Zendrive Uses Mobile Phones as Sensors To Reinvent The Accuracy of Auto Insurance In Partnership With Guild: Techcrunch
• New Approach, a powerful artificial intelligence technique known as “deep learning, Trains Robots to Match Human Dexterity and Speed: NYT
• Driverless cars will shave ‘£265’ off insurance premiums in five years; Why bad driving will be eliminated by 2020 – and car insurance costs will plummet: Telegraph1, 2
• Meet Density, a startup that lets you see if your favorite coffee shop is full; This startup makes it easy and cheap to get anonymous counts of people in a physical space, which is valuable information for merchants, customers and even city planners: Fortune
• Sony to license high-res audio tech to jump-start market; Using Sony’s technology, high-resolution music can be transmitted wirelessly from a device to speakers: Nikkei

Healthcare

• The Family-Run Company That’s Making Super Sophisticated “Robot” Patients: Forbes

Consumer & Others

• Patagonia’s Anti-Growth Strategy; Anti-consumerism is clearly helping to build the Patagonia brand—the company is seeing double-digit annual growth: NewYorker
• Lean times for the diet industry: Fortune
• The man who built Sainsbury’s Nectar card thinks supermarkets need to totally rethink loyalty: BI
• Wal-Mart Encourages Meat and Egg Suppliers to Curb Antibiotic Use: WSJ
• Companies See ‘Massive Shift’ in Search for Supply Chain Talent: WSJ
• Obama Scales Back Overly Ambitious Goals for Electric Car Use: Bloomberg
• The ridiculous reason McDonald’s sold Chipotle and missed out on billions of dollars: BI
• Fighting Pollution From Microbeads Used in Soaps and Creams: NYT
• Innovation helps Warburtons’ bread brand rise; The business has spent more than £400m on new bakery technology and machinery in the past decade. The Warburtons say holding on to staff means they have more money to invest. FT