Boat Quay, Singapore, a very old kind of logistics long before there was ever a tech company in the Straits Times Index

Property stock replaced by the first tech company in the Straits Times Index

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Last month, the Hang Seng index made the historic move of replacing Cathay Pacific with a mainland Chinese company, as part of the longer-term trend of Greater China integration in the index.  At that time, I pointed out that Singapore Airlines’s position in the Straits Times index was far more secure, but today we see […]

An Initial Coin Offering (ICO) that promises to wrap traditional assets as Ethereum blockchain tokens.

Posted Leave a commentPosted in News

I am often asked what I think about “investing” in cryptocurrencies like bitcoin or ethereum, and more recently about initial coin offerings (ICOs).  Just as I say one does not “invest in a currency” (you can either speculate that a currency will rise or fall in value, or convert money into the currency to buy […]

ETFs and Blockchain are excellent technologies, but there are at least 6 reasons to reject #bitcoin ETFs

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My latest SeekingAlpha article lists 6 reasons regulators (and exchanges) should reject Bitcoin ETFs, ranging from the practical and technological to arguably moral and social reasons. I wrote back in 2014 about how 21st blockchain technology should wrap and replace 20th century mutual fund and ETF technology.  ICOs are a start towards this, but I […]

Mobile-only bond offerings should become bigger and broader than Kenya's #MPesa #FinTech

Posted Leave a commentPosted in Web finds

I wasn’t too surprised to hear Kenya recently offered KES 150 million (US$1.5 mio) in government bonds exclusively through mobile phones.   These bonds are supposed to pay 10% interest tax free (vs 14% on their benchmark institutional 10 year bonds) and be available in denominations as low as KES 3,000 (US$30), and this is hopefully […]

3 reasons we're not buying the Snapchat IPO $SNAP

Posted Leave a commentPosted in Investing

IPOs like Snapchat (formally Snap Inc, NYSE ticker: SNAP) are sexy, and I often say when investments are sexy, you are likely paying too much.  That’s why instead of pretty pictures of Snapchat glasses, disappearing images of rainbow vomit, or even their logo, I made the featured image of this post Snapchat’s income statement reported […]

Unicorn comps: 60 Internet Stocks worth US$1 billion or more

Posted Leave a commentPosted in Lists

I consider myself a relatively boring, probability of cashflows investor not easily attracted to hyper-growth promises of many Internet company investments.  Nonetheless, I have slowly started to get more interested in established Internet companies as I see them developing moats and staying power that make them sustainable cash cows more than bets on speculative upside. […]

Invest by Model or by Judgement? Join the #Buyside Debate @LipperLeaders @thomsonreuters

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Thomson Reuters advertised the question of whether predictive modeling or human judgement is more important to generating alpha by fund managers on the site BuysideDebate.com As of the time I cast my vote, opinions still seem evenly split, but with more conviction on the model side than the human judgement side (and I doubt that’s […]

The 200 Largest Drug / Pharmaceutical Companies by Market Cap 2017

Posted Leave a commentPosted in Lists

Legal drugs are a big business, with over 200 companies each worth at least US$200 million, and 7 worth over $100 billion.  Medicines are one of the few types of products I find advertised about equally in the US and in Hong Kong (otherwise I think of the US as mostly advertising cars and consumer […]

Brief Review of @Motif Investing Platform

Posted Leave a commentPosted in Investing

This year, I started looking at the Motif investing platform, and for my clients, offering managed accounts through Motif Advisor. Basically, Motif is a different type of online broker that, rather than selling you stocks one at a time, allows you to trade in “Motifs” (basically baskets of up to 30 US-listed stocks or ETFs) for a […]