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The way billionaire Warren Buffett defines success has nothing to do with money: “I measure success by how many people love me.” – Bamboo Innovator Daily: 22-27 Sep (Tues-Sun)

Life

  • The way billionaire Warren Buffett defines success has nothing to do with money:  “I measure success by how many people love me.”’: BI
  • One of America’s most beloved authors shares a simple strategy for overcoming adversity; Bravery means coming to terms with your emotional experience — even if it’s uncomfortable. BI
  • Yogi Berra, an American story; The Extraordinary Journey of Yogi Berra: In 90 years, the Yankee legend lived many lives: war veteran, humorist, manager and baseball’s greatest catcher; Yogi and the Three Bears: Applying baseball great Yogi Berra’s wit and wisdom to global markets; Yogi Berra, linguistic savant; U.S. Baseball Legend Yogi Berra Dies; Hall of Fame catcher renowned for his malapropisms dies aged 90: WaPoWSJFP, Economist, WSJ
  • ‘Phishing for Phools’: A Q&A With George Akerlof and Robert Shiller; The Nobel laureates discuss their new book and explain why tricksters are an integral part of capitalist economies: WSJ
  • Keeping Things Simple and Tuning out Folly: Farnam
  •  William McKnight: The Basic Rule of Management that Propelled 3M; “If you put fences around people, you get sheep. Give the people the room they need.”: Farnam
  • Why Good People Do Bad Things: A Conversation With My Daughter: SN
  • Is this Australia’s youngest entrepreneur? She’s barely out of primary school but Bella Tipping has come up with an ingenious idea turning travel on its head.: TheAge
  • The Four Desires Driving All Human Behavior: Bertrand Russell’s Magnificent Nobel Prize Acceptance Speech; “Nothing in the world is more exciting than a moment of sudden discovery or invention, and many more people are capable of experiencing such moments than is sometimes thought.”BP
  • Michael Faraday on Mental Discipline and How to Cure Our Propensity for Self-Deception: BP
  • Happy Birthday, William Faulkner: The Beloved Writer on Beginner’s Mind and the Mystique of the Muse; BP
  • Big Magic: Elizabeth Gilbert on Creative Courage and the Art of Living in a State of Uninterrupted Marvel: BP
  • Exceptional Leaders Create An Awareness Of Greatness In The Workplace: Forbes
  • How Frank Gehry Became Frank Gehry: Bloomberg
  • How to Get SuperBetter: longreads
  • The best entrepreneurs are like brilliant artists in these four ways: qz
  • King of Sugar shares pearls of wisdom; Malaysian entrepreneur Robert Kuok on his trading philosophy: FT
  • The striking partnership of Alex Ferguson and Michael Moritz; What makes a leader? Football legend Alex Ferguson and venture capitalist Michael Moritz share their secrets: FT
  • Barbara Walters on How to Be There for the Newly Bereaved and Heartbroken; “we are more and more driven to depend on one another’s sympathy and friendship in order to survive emotionally.”: BP
  • Tony Robbins teaches this management technique to the executives he coaches: BI
  • This is the skill that determines your child’s future employability: qz
  • 20 cognitive biases that screw up your decisions: BI
  • New Neuroscience Reveals 4 Rituals That Will Make You Happy: Barker
  • Behavioral Economics: Useful Even If Not New: Bloomberg
  • A former Simon & Schuster owner swore by this simple strategy for cutting the length of meetings by 75%: BI
  • A Conversation with Luigi Zingales: medium
  • Good managers know when to let their staff fail to ensure they succeed in long run: SCMP
  • How do academic prodigies spend their time and why does that matter?: Conversation
  • Rival Rothschilds at war over family name: Telegraph
  • The Case Against Cover Letters: Nobody reads them, and writing one can only hurt you.: Bloomberg
  • The day Steve Jobs dissed me in a keynote speech: BI
  • How to deliver economic justice to the deprived lot? BT
  • Tax Evasion’s Bite, From the Ancient World to Modern Days: WSJ
  • What to do if you forget someone’s name immediately after meeting them: BI
  • The Aesthetic Instinct: Millennia before Picasso, humans crafted spectacularly refined forms. Were they true artists, or something less? WSJ
  • The Makers of American Strategy: The ‘scientists’ find the ‘artists’ amoral and defeatist; the artists see the scientists as doctrinaire and utopian. WSJ
  •  The Middle-Class Squeeze: If Western countries want to disprove the dire forecasts of Karl Marx, we must think creatively about how to make the middle class more prosperous and secure: WSJ
  • Would Seth Klarman Buy His Own Book? A hedge fund billionaire, a $1,600 hardcover, and the cult of value investing. ai-CIO
  •  Better Living Through Social Science Research; “Friend & Foe” demonstrates the value of making technical research understandable to the uninitiated. NYT
  • Some advice from Jeff Bezos: people who were right a lot of the time were people who often changed their minds.: medium
  • The science behind why inspirational quotes motivate us: Fastco
  • A Self-Compassion Exercise: Thebookoflife
  • How A Quiet, Failed Comic Book Artist Conquered Hollywood’s Nightlife Scene; Franki Chan was once unemployed and broke. Today, his IHEARTCOMIX empire works with the likes of The Rolling Stones and Skrillex. Fastco
  • Collaborating with Creative Peers: HBR
  • 3 Things Managers Should Be Doing Every Day: HBR
  • Huawei: A Case Study of When Profit Sharing Works: HBR
  • Picasso, the sculptor: Master of surprises; Why the Spanish artist was as inspiring a sculptor as he was a painter: Economist
  • Unclouded vision: Forecasting is a talent. Luckily it can be learned: Economist
  • How chief executives deal with cancer: Goldman Sachs’s boss becomes the latest to carry on while unwell: Economist
  • The new science of happiness has its roots in an ancient art; Contentment stems not from material wealth but from relationships: FT
  • Poverty: Vulnerable to change; More than 1bn people still live on less than $1.25 a day and the drive to reduce the world’s poor looks difficult to maintain: FT
  • How Music Soothes the Troubled Soul; From the strife in Selma to the tension of the Cold War, a personal account of the power of music.: WSJ
  • How to master the fine art of the follow-up: FastCo
  • 3 Tricks to Overcoming “The Expert’s Paradox” as a Presenter: Slideshare
  • The Reclamation of Strategy: Strategy&
  • The future of language: WaPo
  • Daniel Pink’s Required Reading: Strategy&
  • Meritocracy without the Numbers: Strategy&
  • Aspire to be a technopreneur, rather than a doctor or lawyer: TODAY
  • How one woman went from making $11 an hour to building a business that earns nearly $7 million a year: BI
  • The CEO who knowingly sold tainted peanuts that killed 9 people got 28 years in prison: BI
  • Tim Cook personally called the teenager who says an Apple Watch saved his life and offered him an internship at Apple: BI
  • Tech titles dominate shortlist for FT business book of the year: FT
  • Billionaire Marc Benioff has a foolproof tip for giving great presentations: BI
  • 5 strategies for conquering fear and anxiety, from one of the most successful self-help authors in history: BI
  • Roche scion André Hoffman on benefits of family ownership: FT
  • Tod’s tycoon Diego Della Valle targets Italian philanthropy: FT
  • Observe, Question, Reinvent: Lessons For Seeing Clearly From George Carlin: FastCo
  • Spotlight shone on David Teoh, TPG’s famously private CEO; A rare look at the secretive billionaire behind the operation of one in every four Australian internet connections.  TheAge
  • Jan Singer of Spanx: Using Votes to Guide a Group;  Singer, chief executive of Spanx, says one way she gives direction to conversation about an issue is by asking a group to vote on it.: NYT
  • Corporate scandals and how (not) to handle them; After a disastrous week for VW, we look back at 30 years of business disasters and their cost in lives, money and reputations: Guardian
  • Can Entrepreneurs Succeed In Today’s On-Demand World?: Techcrunch

Books

  • Superforecasting: The Art and Science of Prediction: Amazon
  • Insight Out: Get Ideas Out of Your Head and Into the World : Amazon
  • Your Inner Will: Finding Personal Strength in Critical Times : Amazon
  • Grit to Great: How Perseverance, Passion, and Pluck Take You from Ordinary to Extraordinary: Amazon
  • Collaborative Intelligence: Thinking with People Who Think Differently: Amazon
  • Friend & Foe: When to Cooperate, When to Compete, and How to Succeed at Both: Amazon
  • What to Ask the Person in the Mirror: Critical Questions for Becoming a More Effective Leader and Reaching Your Potential: Amazon
  • What You Really Need to Lead: The Power of Thinking and Acting Like an Owner: Amazon

Investing Process

  • Aim’s Chinese disasters offer cautionary tale for chancellor: FT
  • CFOs see earnings shenanigans in 20% of U.S. public firms: FP
  • US Attorney Preet Bharara Indicts Masterminds Behind Gerova Financial Pump And Dump: Forbes
  • Why bother cooking the books if no one reads them?: FT
  • Hao Wen, Capital VC and Unity; questionable cash investments at extremely high valuations which link together 3 listed companies. David Webb urge the SFC’s corporate misconduct team to investigate: Webb
  • FRC probably investigating Esprit: Webb
  • Is He Selling You a Stock? Or a Big Fat Lie? Bloomberg
  • The network risk shared by vicars and Big Four accountants; The global structures of PwC, Deloitte, EY and KPMG are more fragile than the Church of England’s: FT
  • 8 classic pieces of investing advice from Yankee legend Yogi Berra: BI
  • A Dozen Things I’ve Learned from Charlie Munger about Mistakes: 25iq
  • Why Buffett Believes Inactivity Is Intelligent Investing: GF
  • Why Volatility Leads to Poor Decisions: brainportnoy
  • A View From the Top on Preventing Financial Valleys: NYT
  • How Short-Sellers Ackman, Chanos and Others Dance With Danger: VW
  • Meeting with triumph and disaster: some lessons: Fundoo
  • Value And Risk: The PERG Ratio: RBCPA
  • Complexity as a Default: awocs
  • Understanding Bond Market Duration & Volatility: awocs
  • Reader question: how to backtest?: ahg
  • Fake Warren Buffett filings shows the SEC still has a problem: Fortune
  • One of Canada’s largest pension boards is suing Saba Capital, the hedge fund run by credit trader Boaz Weinstein, for allegedly “manipulating the value” of their investments in a fund.: BI
  • Have you learned the lesson from VW’s 35pc share price fall? Investors have been stung by many ‘blue chip’ stock collapses in the past century. Andrew Oxlade whips through the history – and explains how you can try to avoid them: Telegraph
  • A Buffett Disciple on What to Do About Market Turmoil: Make time for calm contemplation: There’s a reason Warren Buffett lives far from Wall Street: Observer
  • Don’t Mimic Buffett’s Blunders: GF
  • Five Ways to See the Financial Future: Wharton School researcher can teach useful lessons to investors: WSJ
  • Financial Engines to Offer 401(k) Savers Free Access to Advisers; Push comes as financial companies seek ways to combine computerized and human assistance: WSJ
  • Can You See the Future? Probably Better Than Professional Forecasters: WSJ
  • Clifford Asness: Paying a Fair Fee for the Risk Taken; The AQR co-founder on challenging the hedge fund orthodoxy, and why innovation has played a role in AQR’s success.: II
  • Bill Gates foundation trust sues Brazil’s Petrobras over share losses: reuters
  • This Is Why Public and Private Market Valuations Are Completely Different: MVC
  • Robo-advisers mark ‘seismic’ shift in wealth management; AMbit and his fanuply memn:FT
  • The clandestine art of raising dividends; Payouts are merely the return of shelved capital spending: FT
  • How to front run activist investors; Bloomberg has an interesting article on identifying activist targets before they are targeted. It’s a great idea, and exactly the same reason for the existence ofAcquirer’s Multiple: GB
  •  Of would-be $1B fees, trips to Omaha and hardball negotiating: Behind the scenes of the Precision-Berkshire deal: BJ
  • Dhando investor meeting 2015 – A day with Mohnish Pabrai: FH
  • A lesson from German physicist Max Planck on successful investing: Telegraph
  • Killing Patients to Investment Prosperity: IC
  • Sigmund Freud the Portfolio Manager: IC
  • Half of ‘recommended’ funds offer mediocre returns: FT
  • Who invented the term EBITDA?: SCM
  • Steven Kiel Of Arquitos Capital Talks NOL (Net Operating Losses) Investing: VW
  • PwC Outlines Differences Between U.S. GAAP and IFRS: AT, PwC
  • Klarman Cub Miguel Fidalgo Establishes Value-Focused Hedge Fund: VW
  • AQR On Risk Parity: The Dog That Did Not Bite: VW
  • Goldman Sachs Launches The First ActiveBeta ETF: VW
  • Goldman Sachs Has Some Bad News for Investors Who Like to Pick Stocks; Low return dispersion and a stock market selloff combine to make life hard for active investment managers.: Bloomberg
  • Volkswagen scandal costs Qatar’s sovereign wealth fund £3.3bn; Qatar Holding hit hard by losses on German car maker stock market bets turn sour: Telegraph
  • The Surprising Bias Of Venture Capital Decision-Making: Techcrunch

Greater China

  • Commodities Exchange in Yunnan Ran 43 Bln Yuan Scam, Investors Say; Fanya Metal Exchange in Kunming accused of selling some 220,000 investors high-yield products that cannot be cashed in: Caixin
  • Fanya Exchange’s 36 billion yuan default ‘tip of iceberg’ in China; Failed China financial products drew investors for their ‘low’ returns: SCMP1, 2
  • China’s money supply growth dwarfs the rest of the world;  ‘Scary’ rise in liquidity threatens to destabilise asset prices: FT
  •  China investors in rare protest accuse regulators of “ignoring fraud”: Reuters
  • China’s “Reverse QE” Could Top $1.2 Trillion, Barclays Says: zh
  • CHANOS: Here’s why China got so bad in 2015: BI
  • A Big Bet That China’s Currency Will Devalue Further: NYT
  • What Do U.S. Economists Think of Official China Statistics? ‘Only a Fool Would Believe Them’: WSJ
  • Wang Jianlin’s Dalian Wanda Opens $2.5 Billion China Resort in Yunnan; Xishuangbanna resort aims to attract 200 million tourist visits in the next five years: Bloomberg
  • Shop Rents Tumble on H.K. Street That Was World’s Priciest: Bloomberg
  • Despite Desire for SOE Reform, Progress in Oil Industry Is Fitful: caixin
  • Hard Passage to India for China’s Phone Makers: Caixin
  • Politics may get the better of Li Ka-shing’s new Europe focus: Nikkei
  • The most expensive sake that Alibaba’s Jack Ma ever had; “It was a big risk when [Yang] put $1 billion into Alibaba,” said Ma, now Alibaba’s chairman. “We went back and forth over the terms, and almost ended the deal at one point.”: Fortune
  • 3 Reasons Why China’s Brokers Are Scary: Barron’s
  • China’s ‘fake’ Apple stores thrive ahead of new iPhone launch: Star
  • Fonterra’s pizza strategy pays dividends in China; Fonterra posted record consumer product sales in China as it saw reward for its efforts to reduce reliance on milk powder and boost its branded milk, cheese and cream in Chinese pizzerias and bakeries: Star
  • Meet Uber’s Mortal Enemy: How Didi Kuaidi Defends China’s Home Turf: Forbes
  • This is what Jim Chanos looks at when he’s looking at China: BI
  • China cautiously embraces privatisation of state-owned enterprises: FT
  • Dried toad and snakeskin: Old-school remedies cool China’s vitamin fever: Reuters
  • China’s Xi Draws Power Into Loyal Inner Circle; President builds a more centralized presidential system: WSJ
  • China’s Solar Power Analysts Can’t Agree Why Shares Are Plunging: Bloomberg
  • Foreign tech firms in China: Cards on the table; American tech firms may dislike China’s policies, but they cannot resist its market: Economist
  • British banks are far more exposed to China’s economic quagmire than any of their competitors: BI
  • Emerging markets suppliers nervous over China’s woes: FT
  • Chinese beer loses its froth; Mass market brands are languishing amid economic slowdown and changing consumer tastes: FT
  • Xi will have to yield power to the private sector; If he was clamping down politically to prepare for economic liberalisation it has not happened: FT
  • Beijing Soaks Golf Courses, Ski Resorts Amid Water Worries: WSJ
  • China’s Bloated State-Owned Companies Are Hurting Its Growth: Bloomberg
  • Move Over LVMH, Here’s LFX (Lao Feng Xiang)! Hong Kong Greets China Luxury Brands: Bloomberg
  • China Said to Suspect Citic of Insider Trading During Rescue: Bloomberg
  • Don’t Buy Says First State Cinda as Yuan Bond Yields Slide: Bloomberg
  • China Is Sitting on an Ocean of Diesel Fuel: Bloomberg
  • Chinese Auctions Fall to $7.9 Billion as Speculators Flee: Bloomberg
  • Headwinds Hit Chinese On-Demand Services; Slowing economy, cooling investment environment take toll on startups: WSJ
  • China Heads to Japan-Like Slowdown as Debt Swells, Chanos Says: bloomberg
  • China state group bailout highlights urgency of reform: FT
  • China’s Workers Stumble as Factories Stall; As factories run out of money and construction projects idle across China, there has been a rise in the last thing Beijing wants to see: unrest.: WSJ
  • In China’s Struggling Stock Market, a Few Winners Emerge; A weaker yuan and a dearth of IPOs benefit certain companies amid wider carnage: WSJ
  • Panda bonds set to multiply, as China opens up market: Reuters
  • Citic Securities, a Pillar of Finance in China, Is in Beijing’s Cross Hairs: NYT
  • China Investors Shun World’s Wildest Stocks as Trading Dries Up: Bloomberg
  • For China, a Pyrrhic Victory in PCs: Bloomberg
  • New rules for China’s third-party payment to deal with illegal transactions draw backlash: WCT
  • Baidu O2O operations hindered by inadequate payment system: WCT
  • Chinese billionaire front of queue to buy Odeon cinema chain; Chinese leisure giant Wanda is eyeing adding the UK cinema chain to its growing collection of overseas investments: Telegraph
  • Who Calls The Shots In China: zh
  • China’s “Credit Mystery” Deepens, As Moody’s Warns On Shadow Financing: zh

India

  • Dabur’s Duggal drives innovation across 131-year-old company: Nikkei
  • India: Visit to Cradle of Innovation and Entrepreneurship: Matthews
  • India’s economic mandarin: Indian Finance Minister Arun Jaitley talks about his government’s economic approach and achievements.: BT
  • Brazil and Turkey show India what not to do; Price is high when politicians meddle with central banks and chip away at a policy building block: FT
  • Why Doesn’t India Have Its Own Silicon Valley?: Bloomberg
  • How Modi’s visit to Silicon Valley can spark India’s tech economy: WaPo
  • Pune’s Force Motors Makes Engines For BMW And Mercedes-Benz: Forbes
  • Sanjiv Goenka Envision New Success Apart from RPG Enterprises: Forbes
  • Amid Big Drops, 12 New Faces Appear On India’s 100 Richest: Forbes
  • B2B businesses quietly scripting their success stories; Online retail platforms like Snapdeal and Flipkart may be grabbing eyeballs, but it’s their business-to-business counterparts that are seeing profits: Forbes
  • Graphic India: The Indian marvel; Graphic India won over the world with a popular homebred superhero, Chakra. But for Sharad Devarajan, its mastermind, the journey has just begun: Forbes
  • Sun TV promoters have no plans to exit company: CFO; The comments came amid market speculation that promoters were looking to sell stake to two private equity firms; Livemint
  • Silicon Valley Woos Narendra Modi; Indian prime minister to meet with top executives from Google, Facebook and Apple: WSJ
  • Modi’s bumbling aviation boom: Economist
  • 84-Year-Old Indian Tractor Tycoon Wants To Triple Revenues By 2020: Forbes
  • In a Hurry to Electrify India, Modi Turns to Silicon Valley: Bloomberg
  • Stressed bank loans test India’s ambitions: FT
  • Here’s what happened when India’s Prime Minister Modi met several dozen Fortune 500 CEOs; “The world is not going to wait for us. I know that.”: Fortune

Japan & Korea

  • CEO’s vision guided Meritz toward success: JA
  • Suzuki Sells VW Shares to Porsche Holding After End to Dispute: Bloomberg
  • South Korean Stock Trading Surges With Small Companies in Focus: Bloomberg
  • Korea Inc.’s Boardrooms Shrink Due to Economic Squeeze; Executive positions at South Korea’s biggest companies are being eliminated as the economy slows: WSJ
  • Japan’s Hybrid Car Makers Pull Ahead Amid Volkswagen Scandal; With ‘clean diesel’ drive in doubt, those with limited investment in it incur less damage to share prices: WSJ
  • Online Hit Game CrossFire Mints South Korea’s Richest Self-Made Billionaire: Forbes
  • SoftBank Group Corp. dropped to the lowest in two years as the market values of its biggest U.S. holdings, Alibaba Group Holding Ltd. and Sprint Corp., plunged.: bloomberg
  • Abe Will Need All His Zen Calm to Press on With Abenomics: Bloomberg

ASEAN

  • Is Asean Losing Its Way?: JG
  • Thai Banks Face Biggest Default Since ’97 as Steel Venture Fails: Bloomberg
  • Singapore Exchange faces test as China led boom fades: Star
  • An amendment to a securities law is to plug a loophole in the law that allowed parties to exclude liability for the veracity of statements made in marketing material related to corporate bonds.: Star
  • 1Malaysia Development Bhd has expressed disappointment with Bank Negara Malaysia Governor Tan Sri Dr Zeti Akhtar Aziz who apparently singled out the strategic development company for the ringgit’s weakness.: Star
  • Indonesia’s Pertamina Fuel-Sale Losses Hit $1 Billion; State-owned energy company incurs huge costs selling fuel below market value: WSJ
  • Ringgit Losses Throw Back to 1998 as 1MDB Probes Spread to U.S.: Bloomberg
  • Despite Southeast Asia’s Staggering Economies, William Heinecke Remains Optimistic: Forbes
  • Join the family firm? Only 1 in 5 grads say yes; Globally, 3.5 per cent will do it straight after graduating, 4.9 per cent will wait 5 years; figures for Singapore even lower: BT
  • Lee Kuan Yew’s younger children, government in court over interviews; Estate executors Wei Ling, Hsien Yang want copies of transcripts of interviews given by Mr Lee to Oral History Dept: BT
  • Smaller audit firms urged to improve risk analysis; Recurrent audit deficiencies found in smaller audit firms: Acra: BT1, 2
  • Southeast Asian taxi groups hit hard by ride-sharing apps; Local players beat global phenomena such as Uber and Easy Taxi amid surge in smartphone use: FT
  • Gajah Tunggal Rues Hedging Costs as Garuda Tracks Dollar Outlays: Bloomberg
  • Vietnam Seeks Fix to Legal Vacuum Blocking Bad Debt Cleanup: bloomberg
  • Uber Says Special Interests Challenge Its Push Onto Indonesian Roads: Bloomberg
  • Market fears prompt Rowsley to convert its Iskandar project into healthcare hub: TODAY
  • Salim’s workaholic boss driven by ‘desire to become No. 1’: Nikkei
  • Malaysian prime minister Najib Razak’s inevitable fall: SMH
  • Asean is the next world factory: JP
  • Editorial: The Go-Jek effect; What happens after the novelty of smartphone application-based ojek (motorcycle taxi) services wears off?: JP

Macro

  • Emerging-Markets Pain Could Be Prolonged; Unlike the recovery following the financial crisis, this one won’t have a V shape, writes a Lombard Street economist.: Barron’s
  • In the hedge fund industry, 90 percent of assets are controlled by only 11 percent of the funds. With so much money concentrated in so few funds, this market is one of the toughest for new managers: VW
  • Assessing The PE Deal-Making Environment: EV/Revenue Multiples Surge: VW
  • Investors only sing redemption songs about emerging markets; John Dizard wonders if disaster can be averted in emerging markets: FT
  • A fifth of Britain’s businesses are still stuck in “survival mode”, unable or unwilling to invest to improve their productivity: FT
  • We need to relearn the arts of war and grand strategy; West blew its peace dividend in 20-year party of consumption and speculation, says Niall Ferguson: FT
  • Asia’s resilience being tested: Star
  • Why Some Pros Favor Closed-End Bond Funds Right Now; Closed-end funds that are trading at unusually large discounts may be a good buy: WSJ
  • Some Funds in Your 401(k) Aren’t Really Mutual Funds After All; Collective investment trusts, or CITs, have lower fees but less transparency: WSJ
  • Emerging Markets Go From Bad to Worse; A gauge of emerging-market currencies has fallen to its lowest level in six years: WSJ
  • Why Some Hedge Funds Can’t Wait for Rates to Rise: WSJ
  • Wall Street Cracks Down on Free Sharing of Analysts’ Notes: Bloomberg
  • S.E.C. Turns Its Eye to Hidden Fees in Mutual Funds: NYT
  • The New Bond Market: Big Buyers of Corporate Debt Are Other Corporations; More than half of corporate cash is invested in investment-grade corporate bonds: WSJ
  • European Stock Winners and Losers Upended as China Effect Reigns: Bloomberg
  • Emerging Markets Are Facing a Big Foreign FX Debt Bill; All that hard-currency borrowing is coming back to haunt emerging economies.: Bloomberg
  • Brazil’s real worst hit in emerging market forex ‘bloodbath’: FT
  • Risk parity strategy seeks new approach; Rising volatility and rates will squeeze returns in the coming years: FT
  • In cash we trust — abolish it and you invite tyranny; Andy Haldane’s call to get rid of the money in our wallets has an unfortunate echo of Maoist China: FT
  • The Anatomy of Brazil’s Financial Meltdown: Bloomberg
  • The New Bond Market: Regulators Scramble to Keep Up; Tech-fueled trading in U.S. Treasury bonds is fast, complex-and governed by rules built for paper and telephones: WSJ
  • Do Malaysia, South Africa Deserve Junk? Moody’s Model Says Yes: Bloomberg
  • Central banks have made the rich richer; All of us who work in finance owe a debt to quantitative easing: FT
  • Sovereign funds wake up to fiscal reality: FT
  • Credit markets suffering from indigestion: FT
  • Goldman Has Come Up With (Yet) Another New Name for ‘Smart Beta’: Bloomberg
  • Harvard endowment warns of market ‘froth’; Harvard is looking for investment managers with expertise as short-sellers, as the world’s biggest university endowment becomes more cautious about the outlook for financial markets. FT
  • Hedge fund leader bets on emerging market rout: FT
  • SEC Takes Aim at Risk in Asset Management; Agency considers rules requiring mutual funds, ETFs to gird against systemic stresses: WSJ
  • For Multinational Firms, Brazil Becomes a Pain in the Wallet; Weak currency, recession keep recent investments in once-hot market from paying off: WSJ
  • The New Bond Market: Some Funds Are Not as Liquid as They Appear; Investment firms test SEC guidelines on securities that are seldom traded: WSJ
  • SEC Votes to Boost Oversight of Mutual Funds; SEC voted 5-0 to approve proposal requiring funds to manage ‘liquidity’ risks: WSJ
  • Chart-Watchers Zero In on More Warning Signals for U.S. Equities: Bloomberg
  •  Investors Put Emerging Hedge Fund Managers Under the Microscope: II
  • “Emerging Markets Are On The Verge Of Liquidation” Top Performing Hedge Fund Manager Warns; “QE4 Is Coming”: zh
  • Hedge Funds Burned by Fed Set to Unwind Bearish Rate Bets: Bloomberg
  • How to Lose $667 Million in Bond Trades Without Trying: Bloomberg
  • “Risky Business”: Companies Are Now Funding Share Buybacks By Selling Bonds To Other Companies: zh

Energy & Commodities

  • Junk-Debt Investors Fight for Scraps as U.S. Shale Rout Deepens: Bloomberg
  • Rightsizing in the oil and gas industry: Star
  • Samson’s weakness is a cautionary tale: US energy sector’s rising levels of distressed debt track oil’s plunge and rising cost of capital: FT
  •  Investors Are Mining for Water, the Next Hot Commodity: NYT
  • Mining zombies need supply cuts to avoid the underworld; Only industry wide cuts to production will save the mining sector from the graveyard: Telegraph
  • Commodities Traders Brace for New European Rules; Regulations bring scrutiny to industry with limited oversight: WSJ
  • Is Goldman Preparing To Sacrifice The Next “Lehman”, Glencore: zh
  • Commodity trade finance: Rubber barons; As banks cut loans to commodity producers, others are stepping in: Economist
  • Glencore stock is getting crushed after Goldman Sachs says its credit rating might be screwed: BI
  • Fracking Firms That Drove Oil Boom Struggle to Survive; Stiff competition, lack of business lead to bankruptcies, distress: WSJ
  • Commodity nations must deal with the demise of a supercycle; Producers face austerity as well as battles over budget and debt: FT
  • Fracking Firms That Drove Oil Boom Struggle to Survive; Stiff competition, lack of business lead to bankruptcies, distress: WSJ
  • Why Shippers Are Turning to LNG-Powered Vessels; Number of natural-gas powered ships may grow 15-fold by 2020; Enviromental, financial concerns combining to push changeover: Bloomberg
  • If oil is below $50 a barrel, $1.5 trillion worth of oil projects will lose money: BI
  • Financial support fades for US shale oil drillers: FT
  • Miners Tumble as Citigroup Sees Bigger Commodity Losses Looming: Bloomberg
  • After Commodity Meltdown, Citi Says Brace for More Losses: Bloomberg
  • Asian LNG Prices Expected to Sink as Low as $4 in `Ugly’ Market: Bloomberg
  • Frackers could soon face mass extinction; An analyst says one-third of the companies could be bankrupt by the end of next year. Fortune

Healthcare

  • How Marketing Turned the EpiPen Into a Billion-Dollar Business; Mylan’s marketing turned the allergy device into a must-have. Bloomberg
  • Health-Care Providers, Insurers Supersize; Dozens of mergers among hospitals, medical practices are side effect of health-care law: WSJ
  • Old-Drug Price Hike ‘Perversion of the System,’ Biogen CEO Says: Bloomberg
  • We might not want to know the dark secrets lurking in our genes; The problem is that knowing the answers doesn’t mean we’ll know how to solve anything. There would be a high likelihood of identifying many ticking time-bombs or risk: BI
  • Martin Shkreli, a provocateur in the pharmaceutical wars; A combative 32-year-old propels the issue of US drug costs into the headlines: FT
  • My Lunch With Shkreli: What We Should Learn From Pharma’s Latest Monster: Forbes
  • Pharmaceuticals: Value over volume; Outcry over a 5,000% price rise has rattled stocks and hardened opinion for change on pricing models: FT
  • Drug pricing in America: Painful pills; Sudden price rises for long-established drugs lead to calls for action: Healthcare
  • One chart shows why that CEO’s decision to jack up the price of a critical drug is a much bigger problem: BI
  • Defiant Turing chief Martin Shkreli defends $750 pill: FT
  • The real cost of high pharmaceutical prices; Overcharging is leading to unacceptable financialisation: FT
  • How Playing the Long Game Made Elizabeth Holmes a Billionaire; Inside the 31-year-old’s fight to disrupt a $75 billion industry, and grow it by another $125 billion.: inc
  • Specialists in infectious disease are protesting a gigantic overnight increase in the price of a 62-year-old drug that is the standard of care for treating a life-threatening parasitic infection.: NYT
  • The Pitfalls of Health-Care Companies’ Addiction to Big Data: Bloomberg
  • Glaxo’s Best ‘Headache’ Remedy May Be Buying Stakes in Ventures: Bloomberg
  • Cancer treatment is on the brink of a data revolution: BI
  • What Cancer Doctors Don’t Know About Cancer Drugs; Investment—not good intentions—fuels high-risk research, and price controls will limit new therapies.: WSJ
  • Caring for Aging Parents: How private banks are tackling the financial and emotional issues that affect older parents.: Barron’s

TMT

  • An Early Lending Club Investor on the Future of Fin Tech: WSJ
  • Bellabox takes the Australia Post shortcut into China, after Singapore proves resistant to subscription commerce: BRW
  • The Sharing Economy Attracts Older Adults: NYT
  • 9 unwritten rules of Silicon Valley every startup needs to know: BI
  • We asked some of the smartest minds in fintech how Wall Street is going to change – this is what they said: BI
  • The real-world cost of YouTube’s fake viewers; It raises the question of whether we put too much trust in what digital service providers tell us: FT
  • Solving the Amazon Puzzle: In a battle of tech titans, some investors may have reason to prefer Bezos over Brin and Page.: Bloomberg
  • Five sci-fi robots that could revolutionize business: Fortune
  • From iPhones to iCars: Apple is entering the auto business, but the road ahead could be rough: Economist
  • Vinod Khosla: Anyone Who Talks About A Bubble ‘Doesn’t Have A Clue’: Forbes
  • The sharing economy is now a playground for Wall Street; Hedge funds and banks are repackaging P2P loans and lending via these platforms: FT
  • Price of smartphone-based VR headset cut to $99: FT
  • Firms must embrace digital disruption: BT
  • Hollywood Adjusts Netflix Strategy as Cord-Cutting Fears Grow: Bloomberg
  • Watch Out, Live Video Is the New Data Hog; As mobile-streaming apps like Periscope multiply, efforts emerge to minimize the tab: WSJ
  • Uber’s nightmare scenario: How everything could go wrong for the world’s hottest new company: BI
  • How much of your audience is fake? Marketers thought the Web would allow perfectly targeted ads. Hasn’t worked out that way.: Bloomberg
  • How Cable Can Capture the Mobile Internet; T-Mobile chief John Legere sees the cable and wireless industries converging. That could mean big companies increasingly treading on each other’s turf.: WSJ
  • This new platform makes the contents of videos as searchable as text; A website by video analysis startup dextro tags twitter videos by the images and speech they contain.: FastCo
  • Coming Soon to Checkouts: Microchip-Card Payment Systems: NYT
  • Amazon’s next big business: ‘The instant gratification market’: BI
  • The On-Demand Economy Demands a Better Background Check; A British startup says background and identity checks shouldn’t require time-consuming manual document checks.: Bloomberg
  • The man on a mission to turn Silicon Valley into Gallium Valley; Alex Lidow, scion of an engineering dynasty, thinks the essential material at the heart of the tech industry needs to change. FastCo
  • Apple Targets Electric-Car Shipping Date for 2019; Consumer-electronics maker accelerates efforts to build Apple-branded car: WSJ
  • How Car Software Can Rig a Test; A complex mix of sensors, engine-management software track emissions: WSJ
  • Here’s How One Norwegian CEO Plans to Dodge Facebook’s Dominance: Bloomberg
  • 4chan, an anonymous online message board with more than 20 million monthly visitors, is being acquired by the founder of 2channel, a Japanese message board that inspired 4chan’s founder.: NYT
  • Oyster to Exit E-Book Subscription Business; Company, which launched in 2013, will offer refunds to subscribers: WSJ
  • Nathan Eagle: Megabyte mogul; Millions of smartphone owners in poor countries can’t afford to get online, so Nathan Eagle gives them data for free. Not everyone agrees with his methods: Forbes
  • There will be unicorn tears: Fortune
  • What the top venture capitalists say about the tech bubble: Fortune
  • Smaller, Faster, Cheaper, Over: The Future of Computer Chips: NYT
  • Let the robots and iPhones tend the crops; cheap, networked technology is transforming agriculture: Popsci
  • Autodesk’s Bet on the Cloud Will Generate Big Returns for Shareholders; The design-software pioneer transition could lead to short-term earnings pain but long-term stock gains.: Barron’s

Consumer & Others

  • With Subscription Snacks, Entrepreneurs Think Inside the Box: NYT
  • In Housing Rebound, Makers of Faucets and Cabinets Top Builders: Bloomberg
  • Why This Celebrity-Backed Honey Is Worth Counterfeiting; Celebrated by Gwyneth Paltrow and Dr. Oz, manuka honey “is quite literally liquid gold” for the companies selling it: Bloomberg
  • How mascot maker Street Characters created a niche with loveable characters and safe, functional costumes: FP
  • How Big Shampoo conditioned us to buy products our hair-and environment-don’t need: qz
  • New Balance needs to make one major change to compete with Nike: BI
  • Megaships are worsening overcapacity in the container market: Reuters
  • The most infamous Chinese food chain is trying to succeed in the world of Chipotle: BI
  • Swiss luxury watch industry smart enough to face down challenges: FT
  • Heineken, Carlsberg Unlikely to Benefit From SABMiller-AB InBev Megadeal; Not everyone thinks the two brewers would benefit from divestitures that would likely come with a deal: WSJ
  • Coca-Cola said it plans to divest itself of nine U.S. production plants worth about $380 million to three large bottling partners as the beverage giant accelerates a refranchising drive and lightens its balance sheet. WSJ
  • Lock Up Your Bees: Insects Are the Assets to Steal as Almond Prices Soar: Bloomberg
  • Lactose-Intolerant Americans Spur Ivory Coast Cashew-Farm Boom: Bloomberg
  • Meet the mysterious billionaire heiress to In-N-Out’s fortune: BI
  • Starbucks customers never have to wait in line again for drinks and food: BI
  • Can America’s Biggest Beauty Retailer Take On Sephora? Ask any woman what Ulta is. Chances are she doesn’t know.: Bloomberg
  • 7-Eleven to change profit model as franchisee flees Australia: TheAge
  • Myer raises $3.7 million in intended $122 million rights issue: theAge
  • 7-Eleven: Founder Russ Withers to face senate grilling; Pressure is mounting on 7-Eleven ahead of a public hearing into allegations of rampant wage fraud.: TheAge
  • Wal-Mart hasn’t figured out how to sell a crucial product; Wal-Mart needs to revamp its grocery business. Groceries are vital to the retailer’s success, accounting for 56% of its sales.: BI

Auto

  • Lessons from VW: courage, climate change and the C-suite: Conversation
  • Volkswagen and the Era of Cheating Software: NYT
  • Volkswagen: Fuel for scandal: Amid the emissions testing controversy did the ambition to become the world’s top carmaker drive VW to cheat?: FT
  • Group-think and delusion: why VW lost its bearings; Was Volkswagen too big and thus unmanageable, did it think it wouldn’t be caught, or did it strive to be number one at any cost?: Telegraph
  • VW’s Customers Feel Confusion, Remorse; Auto owners worry how emissions scandal will affect vehicles’ performance, resale value and compliance with clean-air standards: WSJ
  • VW scandal: The cost of deceiving customers and shareholders mounts: theage
  • A scandal in the motor industry: Dirty secrets; Volkswagen’s falsification of pollution tests opens the door to a very different car industry: Economist
  • ‘European Detroit’ Fear Grips VW Company Town as Scandal Widens: Bloomberg
  • Design flaws that blight German business; VW’s troubles are partly the result of a quest for scale: FT
  • Equity investors dodge VW pain: FT1, 2
  • VW displays classic elements of corporate scandal; The fish rots from the head – this was never truer said than of corporations: Telegraph
  • Complex Car Software Becomes the Weak Spot Under the Hood: NYT
  • As Volkswagen Pushed to Be No. 1, Ambitions Fueled a Scandal: NYT
  • Meet John German: the man who helped expose Volkswagen’s emissions scandal; Automative engineer’s research connected the dots to how the automaker manipulated diesel emissions tests – but that was never the intention: Guardian
  • From Hitler to Herbie and hubris – how Volkswagen was brought low: Guardian
  • VW displays classic elements of corporate scandal; The fish rots from the head – this was never truer said than of corporations: Telegraph
  • Anatomy of a cheat: Here’s what Volkswagen did and how they got caught: FP
  • VW Scandal Socks Auto-Parts Makers; BorgWarner, Delphi, Harman, Gentex choke on Volkswagen’s dirty exhaust: Barron’s
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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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