H.E.R.O.’s Journey in Tech (4 May 2019) – Reversion to the Mean Is Dead. Investors Beware.

H.E.R.O.’s Journey in Tech (4 May 2019) – Reversion to the Mean Is Dead. Investors Beware.


  • E-commerce upstart Yunji shines in downsized Nasdaq IPO; Yunji’s aggressive expansion in its earlier years drew the attention of Chinese authorities, who slapped the company with the equivalent of a $1.4 million fine in 2017 for violating pyramid (Nikkei)
  • Persistent Systems extends partnership with Trend Micro from endpoint security to virtual server security (CRN, NB)
  • Daikin to spend $900m on polymer output for chip equipment (Nikkei)
  • We’re very focused on the Australian market: ReadyTech (AFR)
  • GBST provides update on Bravura Solutions takeover proposal (MF)
  • ViTrox Sets Up German Subsidiary (iconnect)

BATTSS – Baidu, Alibaba, Tencent, TSMC, Samsung, Softbank

  • SoftBank Has a Bigger, Weirder Vision (Bloomberg)

FAANNMG – Facebook, Amazon, Apple, Nvidia, Netflix, Microsoft, Google

  • Facebook’s quest is to find new ways to make money; Mark Zuckerberg’s next act will be a mass experiment (FT)
  • Old Facebook finally wants you to ‘Meet New Friends’ (TC)
  • Machine Learning Challenges at Facebook Scale (EET)
  • Amazon prepares to battle with Alibaba in Asia’s cloud (Nikkei)
  • Amazon’s One-Day Shipping Is a Perk Few Retailers Can Match (Bloomberg)
  • Warren Buffett Buys Into a Different Amazon; A less growth-charged, more profitable profile may have attracted Berkshire Hathaway stock pickers to the e-commerce giant. (Bloomberg)
  • Huawei Overtakes Apple to Become Second Biggest Smartphone Maker (Bloomberg)
  • SEC hits failed Apple sapphire glass manufacturer with fraud charges (TC)
  • Google spends hundreds of millions of dollars on content review: letter (Reuters)
  • Microsoft launches a fully managed blockchain service (TC)
  • Microsoft brings Azure SQL Database to the edge (and Arm) (TC)

Asia Tech & Innovation Trends

  • How Chinese Unicorn Mobvoi Regained Its Original AI Vision After Ticwatch Detour (Forbes)
  • QR code scams strike China, from merchants to traffic tickets; Scammers rip off people trying to pay parking tickets (Nikkei)
  • Shenzhen AI start-up Intellifusion helps city police identify jaywalkers and banned drivers (SCMP)
  • We Should Worry About How China Uses Apps Like TikTok; Illiberal innovations created for China’s vast surveilled and censored domestic market are increasingly popular overseas. (NYT)
  • 20x the market opportunity of ride-hailing: Ankur Mehrotra on Grab Financial’s strategy and products (KRA)

Global Tech & Innovation Trends

  • Spotify’s leanback instant listening app Stations hits iOS (TC)
  • DAZN vs. ESPN: Loaded With A-List Athletes-Canelo, Ronaldo, LeBron-The Billionaire-Backed Streaming Site Wants To Be The Worldwide Leader In Sports (Forbes)
  • The flood of tech IPOs risks worsening inequality; When the bull run ends, it will drag down valuations of everything considered ‘growth’ (FT)
  • The low-key smart tech that works for cities; Eye-catching data services do not always improve citizens’ lives. The most innovative are the least obvious (FT)
  • Nasdaq chief doubles down on data as NYSE fight intensifies; Adena Friedman tries to position New York exchange group as hub for technology (FT)
  • The trade war rumbles on – but US chip makers are cautiously optimistic despite lingering soft demand (SCMP)
  • Zoom Video Surges Past Lyft and Pinterest as Value Tops $20 Billion (Bloomberg)
  • Elon Musk Makes $500 Billion Autonomy Pitch to Investors (Bloomberg); Tesla’s $2 bln capital raise repeats sins of past (Reuters)
  • If This Is a Tech Bubble in Stocks, It’s the Expansionary Phase (Bloomberg)
  • Uber’s First Wall Street Buy Rating Endorses Comparisons to Amazon (Bloomberg); Uber’s IPO Disclosures Leave One Big Unanswered Question (Bloomberg)
  • Ocado’s Warehouse Robots Are Three Times Faster Than Amazon’s (Bloomberg)
  • MercadoLibre Soars to Record as Payments Growth Impresses Street (Bloomberg)
  • Expedia Shares Fall as Home-Rental Business Vrbo Goes Slow (Bloomberg)


  • How Warren Buffett’s longtime business partner enlightened the Oracle of Omaha (MW)
  • Reversion to the Mean Is Dead. Investors Beware. (Barron’s)

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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