If price holds above these levels into the weekly close this would mark a significant technical breakout. The trade weighted dollar (DXY) just closed above a significant level (its 200 and 100 week moving averages) that it’s been battling over the last two months.
China stuf series#
The Netflix versus Blockbuster series is a good place to start.
It’s a series of short narrated stories about the greatest contests between rival businesses and their struggle for survival. I just started listening to a new podcast this week that I really enjoy called Business Wars. It’s close to turning negative for the first time since 2002.ĭoesn’t bode well for commodities and select EMs in the near term… And the trend in SOE fixed asset investment is not good… It recently hit year-over-year growth of just 3%, down from 23%+ in early 2016. One important data point I like to pay attention to is China’s fixed asset investment, particularly from SOEs since they’re responsible for so much of the spending in the economy. But I’m not seeing any signs of material pickup in the numbers, yet. I’ve been scouring data out of China to see if there’s any indications that the government is indeed trying to juice the economy again. But, he’s developed the nuance and framework for understanding and valuing tech companies that have scale and growth curves not seen in other eras and which other value investors instinctively turn their noses up at (he owns Google and Apple).Īnyways, he walks you through his approach to investing, giving a number of examples. He still seeks out quality companies that are selling for less than their intrinsic values. Bill has shown himself to be one of the few talented value investors that has been able to adapt and evolve in response to the changing market and economy without turning his back on his value investing principles. In a similar vein, here’s a great “Talks as Google” with famed value investor Bill Nygren ( link here ). Here’s the link.Īlso, here’s a great interview with both him and Munger published in a Chinese investing journal and republished by GuruFocus. The piece is worth reading in its entirety, you won’t be disappointed. Lu covers everything from the ethics and philosophy behind being a good money manager to his 3 era theory describing human progress and our current trajectory he also of course covers value investing and investing in China specifically. His talk is wide ranging and illuminating. Despite keeping a relatively low profile, he manages the majority of Charlie Munger’s money and Buffet regards him as one of the three best investors alive today. If you don’t know who Li Lu is, you should. I’ve been digging into value investing theory these last few weeks and came across this fantastic speech given by Li Lu (manager of value focused fund Himalaya Capital) at Peking University in 2015. There will still be places for companies like Stitch Fix. Not only are they surviving the Amazon threat, they’re actually thriving…ĪMZN vs SFIX - Amazon won’t take over the entire economy. Click here and scroll to the bottom of the page to sign up for the MIR.Įconomists Suck - Robert Shiller speaks on why he’s not a fan of classical economics.īest Buy Is Still Alive? - Yup. We have a 60-day money-back guarantee, so there’s literally no risk for you to learn our stock selection process and take a look at our highest conviction trade ideas. So if you’re not on board already, sign up now by clicking here.
Finally, since the SPX is back up at highs, Tyler wrote an entire section on portfolio hedging to make sure you can lock in your gains for the year. Using this framework we have identified two value picks in the tech sector that I think will soar over the next 12-18 months.
In the first 20 pages I dissect our exact framework for identifying and evaluating highly asymmetric stocks. The August Macro Intelligence Report : A Value Investing Manifesto was officially released last night! We’ve already gotten some amazing feedback from current subscribers.
Alex here with this week’s Macro Musings.Īs always, if you come across something cool during the week, shoot me an email at and I’ll share it with the group.
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