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Aegis Logistics: Leading Services Provider With Strong Earnings Growth

April 6, 2022 in Asia, Asian Investing Summit 2022, Audio, Discover Great Ideas Podcast, Equities, Ideas, Member Podcasts

Vinod Moras of Kiara Advisors presented his investment thesis on Aegis Logistics (India: AEGISCHEM) at Asian Investing Summit 2022.

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About the instructor:

Vinod Moras is a value investor focused on Asian equity markets scouting for undervalued companies with high quality business models, strong moats and top quality management teams. He is currently a senior investment analyst at KIARA Advisors, an Asia focused long/short equity fund, covering India and Southeast Asia markets. In his prior role, Vinod served as a senior investment analyst at APS Asset Management, a $3bn Asian hedge fund investing in long/short equities focused on the Chinese internet sector and India. Vinod is a member of the Value Investors Club (VIC) since 2010. Vinod holds a Master’s degree in Finance from New York University, Polytechnic Institute.

The content of this website is not an offer to sell or the solicitation of an offer to buy any security. The content is distributed for informational purposes only and should not be construed as investment advice or a recommendation to sell or buy any security or other investment, or undertake any investment strategy. There are no warranties, expressed or implied, as to the accuracy, completeness, or results obtained from any information set forth on this website. BeyondProxy’s officers, directors, employees, and/or contributing authors may have positions in and may, from time to time, make purchases or sales of the securities or other investments discussed or evaluated herein.

Five Asian Companies to Outperform in a Stagflationary Environment

April 6, 2022 in Asia, Asian Investing Summit 2022, Audio, Equities, Ideas

Koon Boon Kee of HERO Investment Management presented his theses on five stagflation-beating companies at Asian Investing Summit 2022:

  • E Ink Holdings (Taiwan: 8069)
  • Parade Technologies (Taiwan: 4966)
  • ZillTek Technology (Taiwan: 6679)
  • Imdex (Australia: IMD)
  • Weathernews (Japan: 4825)

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About the instructor:

KB Kee is the founder & director of HERO Investment Management, a boutique independent investment research organization and the creator & thought leader of the investment & business management philosophy and framework H.E.R.O., which stands for “Honorable. Exponential. Resilient. Organization.” H.E.R.O. is operationalized into a systematic 4-step investment process and investment framework powered by sustainability & ESG principles, with in-depth research, ratings and analysis to identify and invest in global structural growth innovators, especially ferreting out exceptional, under-the-radar, resilient market leaders who are governed by a greater purpose larger than oneself in their pursuit to contribute to the welfare of people and in solving high-value problems for their target customers and society. The H.E.R.O. research framework, methodology and strategy are powering equity portfolio asset for our clients.

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 equity fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company and 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 full-time faculty member and also pioneered the 15-week course on Detecting Accounting Fraud in Asia as an official module at SMU. KB remains grateful 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.

The content of this website is not an offer to sell or the solicitation of an offer to buy any security. The content is distributed for informational purposes only and should not be construed as investment advice or a recommendation to sell or buy any security or other investment, or undertake any investment strategy. There are no warranties, expressed or implied, as to the accuracy, completeness, or results obtained from any information set forth on this website. BeyondProxy’s officers, directors, employees, and/or contributing authors may have positions in and may, from time to time, make purchases or sales of the securities or other investments discussed or evaluated herein.

Great Eastern Shipping: Lowly Valued in Recovering, Cyclical Industry

April 6, 2022 in Asia, Asian Investing Summit 2022, Asian Investing Summit 2022 Featured, Audio, Discover Great Ideas Podcast, Equities, Ideas, Member Podcasts, Transcripts

Sidd Thomas and Kimi Venkataraman of India Intrinsic Value Consultants presented their thesis on The Great Eastern Shipping Company (India: GESHIP) at Asian Investing Summit 2022.

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About the instructor:

Siddharth (Sidd) Thomas serves as a Partner of India Intrinsic Value Consultants. He founded Beaconsfield Investment Management in 2010. Prior to that he worked as an analyst covering Asian equities at Fairfax Financial Holdings and as an associate analyst at Credit Suisse equity research. Born and raised in Chennai, India, Siddharth completed his bachelor’s of science degree from Purdue University. He is also a level 3 candidate in the CFA program.

Krishnaraj (Kimi) Venkataraman serves as a Partner of India Intrinsic Value Consultants. He is the Managing Partner of Kimi & Partners, an investment firm he founded in 2008. Kimi’s previous work experience includes Tata Steel and P&G India, as well as several business startups in India, including Marketics which was successfully sold to WNS. Kimi has been an investor for more than 20 years and, after reading Warren Buffett, has been investing in undervalued Indian stocks. Kimi lives in Bangalore, India, with his wife and two daughters.

The content of this website is not an offer to sell or the solicitation of an offer to buy any security. The content is distributed for informational purposes only and should not be construed as investment advice or a recommendation to sell or buy any security or other investment, or undertake any investment strategy. There are no warranties, expressed or implied, as to the accuracy, completeness, or results obtained from any information set forth on this website. BeyondProxy’s officers, directors, employees, and/or contributing authors may have positions in and may, from time to time, make purchases or sales of the securities or other investments discussed or evaluated herein.

CK Hutchison: Well-Run Conglomerate With Diversified Global Asset Base

April 6, 2022 in Asia, Asian Investing Summit 2022, Asian Investing Summit 2022 Featured, Audio, Discover Great Ideas Podcast, Equities, Ideas, Member Podcasts

Michael Fritzell of Asian Century Stocks presented his investment thesis on CK Hutchison (HK: 1, US: CKHUY) at Asian Investing Summit 2022.

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About the instructor:

Michael Fritzell is a Singapore-based analyst and the author of Asian Century Stocks. He’s worked as an analyst and co-portfolio manager in Asia for well over a decade.

The content of this website is not an offer to sell or the solicitation of an offer to buy any security. The content is distributed for informational purposes only and should not be construed as investment advice or a recommendation to sell or buy any security or other investment, or undertake any investment strategy. There are no warranties, expressed or implied, as to the accuracy, completeness, or results obtained from any information set forth on this website. BeyondProxy’s officers, directors, employees, and/or contributing authors may have positions in and may, from time to time, make purchases or sales of the securities or other investments discussed or evaluated herein.

Roblox: Gaming Platform, May Evolve Into “Metaverse Operating System”

April 6, 2022 in Asia, Asian Investing Summit 2022, Audio, Discover Great Ideas Podcast, Equities, Gain Industry Insights Podcast, Ideas, Member Podcasts

Max Hu of ZZ Capital international presented his investment thesis on Roblox (US: RBLX) at Asian Investing Summit 2022. Max also discussed his high-level thesis on investment in the “metaverse” sector.

Thesis summary:

Roblox runs the well-known online game platform and game creation system Roblox. It allows users to program games and play games created by other users.

The company was co-founded by David Baszucki and Erik Cassel in 2004. They envisioned that player-created virtual worlds (rephrased today as “metaverse”) would become social networks and a key part of our life. Roblox has been pioneering metaverse technology and has changed a generation of young people’s perception of virtual worlds.

While the U.S. remains the company’s single-largest revenue generator, Asia has quickly become its fastest growth driver. There is also reason to believe that its partnership with Tencent in the Chinese market will bear fruit over time.

The recent sell-off in high-growth stocks, including Roblox, provides an attractive entry point for investors with a long-term investment horizon. The company recently had a market cap of $28 billion, implying a 2022E P/S ratio of 8x and a 2023E FCF yield of 3%.

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About the instructor:

Max Hu serves as the executive director for ZZ Capital international. ZZ Capital International is the Hong Kong-based oversea investing platform for the ZEG, a leading Chinese privately-owned investment group with an AUM over 150 billion USD.

The content of this website is not an offer to sell or the solicitation of an offer to buy any security. The content is distributed for informational purposes only and should not be construed as investment advice or a recommendation to sell or buy any security or other investment, or undertake any investment strategy. There are no warranties, expressed or implied, as to the accuracy, completeness, or results obtained from any information set forth on this website. BeyondProxy’s officers, directors, employees, and/or contributing authors may have positions in and may, from time to time, make purchases or sales of the securities or other investments discussed or evaluated herein.

Alibaba: Deeply Undervalued Due to Overstated China-Related Fears

April 6, 2022 in Asia, Asian Investing Summit 2022, Asian Investing Summit 2022 Featured, Audio, Discover Great Ideas Podcast, Equities, Ideas, Member Podcasts, Transcripts

Andrew Macken of Montaka Global Investments presented his investment thesis on Alibaba (US: BABA) at Asian Investing Summit 2022.

Thesis summary:

Andrew believes the market is overestimating the risks associated with investing in China and the regulatory headwinds in the Chinese internet sector.

Alibaba’s operating enterprise is on offer for approximately US$180 billion. For this “price” an investor receives the following value: a leading Chinese domestic (and international) consumer ecommerce business with free cash flow power of $11-19 billion per annum, with medium-term annualized growth in the teens.

In addition, an investor receives China’s largest cloud computing business. This business is breakeven at the moment. However, the long-term structural growth and economics of this business are so favorable that Andrew believes this business alone is worth at least Alibaba’s entire operating enterprise value.

Finally, Alibaba continues to aggressively buy back its own stock – a capital allocation action that is consistent with Andrew’s view of Alibaba’s value relative to the market quotation.

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About the instructor:

Andrew Macken is the Co-Founder and CIO of Montaka Global Investments, a global equity manager based in Sydney and New York. Prior to establishing Montaka, Andrew worked as a senior member of Jim Chanos’ research team at Kynikos Associates, a global equity long/short fund based in New York. Andrew holds a Master of Business Administration (Dean’s List) from the Columbia Business School in New York. Andrew also graduated with High Distinction with a Master of Commerce; and First Class Honours with a Bachelor of Engineering from the University of New South Wales in Sydney.

The content of this website is not an offer to sell or the solicitation of an offer to buy any security. The content is distributed for informational purposes only and should not be construed as investment advice or a recommendation to sell or buy any security or other investment, or undertake any investment strategy. There are no warranties, expressed or implied, as to the accuracy, completeness, or results obtained from any information set forth on this website. BeyondProxy’s officers, directors, employees, and/or contributing authors may have positions in and may, from time to time, make purchases or sales of the securities or other investments discussed or evaluated herein.

Ujjivan Financial: Special Situation With Attractive Risk-Reward Profile

April 6, 2022 in Asia, Asian Investing Summit 2022, Asian Investing Summit 2022 Featured, Audio, Discover Great Ideas Podcast, Equities, Ideas, Member Podcasts, Transcripts

Rajeev Agrawal of DoorDarshi India Fund presented his investment thesis on Ujjivan Financial Services (India: UJJIVAN) at Asian Investing Summit 2022.

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About the instructor:

Rajeev Agrawal is the Fund Manager and Managing Partner at DoorDarshi India Fund. DoorDarshi India Fund is a US-based fund that focuses on investing in Indian equities. Rajeev is also the founder of DoorDarshi Advisors, a General Partner to DoorDarshi India Fund.

The content of this website is not an offer to sell or the solicitation of an offer to buy any security. The content is distributed for informational purposes only and should not be construed as investment advice or a recommendation to sell or buy any security or other investment, or undertake any investment strategy. There are no warranties, expressed or implied, as to the accuracy, completeness, or results obtained from any information set forth on this website. BeyondProxy’s officers, directors, employees, and/or contributing authors may have positions in and may, from time to time, make purchases or sales of the securities or other investments discussed or evaluated herein.

Biocon: Vertically Integrated Growth Business With Transaction Catalyst

April 6, 2022 in Asia, Asian Investing Summit 2022, Audio, Discover Great Ideas Podcast, Equities, Ideas, Member Podcasts, Transcripts

Nandan Madhiwalla of Punctilious One presented his investment thesis on Biocon (India: BIOCON) at Asian Investing Summit 2022.

Thesis summary:

Biocon is a global biopharmaceutical company based in India. It recently traded at a market cap of $5.2 billion, with trailing revenue of ~$1 billion.

Biocon has three businesses: biosimilars (~80% stake in Biocon Biologics), a contract research organization (~70% stake in Syngene), and generics (active pharmaceutical ingredients and formulations).

The company has a history in enzyme production and pivoted towards pharmaceuticals in the early 1990s. Since then, Biocon has successfully scaled three separate businesses. As of fiscal 2021, biosimilars, Syngene, and generics accounted for 38%, 30%, and 32% of revenue, respectively.

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About the instructor:

Nandan Madhiwalla is the founder of Punctilious One and has more than a decade of experience in the investment industry. He has previously worked as a research analyst with PPFAS Mutual Fund – Mumbai, Roosevelt Investment Group and Lebenthal Asset Management in New York. He holds a Bachelor’s degree in Computer Science from D.J.Sanghvi School of Engineering, Mumbai University and a Master’s degree in Financial Engineering from NYU Tandon School of Engineering and is also a CFA Charterholder.

The content of this website is not an offer to sell or the solicitation of an offer to buy any security. The content is distributed for informational purposes only and should not be construed as investment advice or a recommendation to sell or buy any security or other investment, or undertake any investment strategy. There are no warranties, expressed or implied, as to the accuracy, completeness, or results obtained from any information set forth on this website. BeyondProxy’s officers, directors, employees, and/or contributing authors may have positions in and may, from time to time, make purchases or sales of the securities or other investments discussed or evaluated herein.

Nykaa: Wide-Moat Retail Platform With Strong Growth Prospects

April 6, 2022 in Asia, Asian Investing Summit 2022, Audio, Equities, Ideas

Naveen Chandramohan of Itus Capital presented his thesis on FSN E-Commerce Ventures Nykaa (India: NYKAA) at Asian Investing Summit 2022.

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About the instructor:

Naveen Chandramohan started Itus Capital in 2017 as an asset management firm to manage the partners money first. Since then, Itus has evolved into a USD 100 mm fund managing money across 250+ families. At Itus, Naveen runs a single strategy managing a growth fund investing across market caps. Itus has a 5yr+ track record and is one of the best performing multi-cap funds in the country. Prior to setting up Itus, Naveen managed money as a Portfolio manager across 7.5 years with his most recent stint at Hutchin Hill where he was their Resonsible Officer and a Portfolio Manager heading their Hong kong office. As a fund manager, he was the recipient of the best fund manager award by Asia hedge for 3 years in a row. He began his career in Lehman Brothers in Tokyo and has worked across Lehman and Nomura in Tokyo and Hong Kong. Naveen did his engineering in BITS Pilani and graduated from IIM Bangalore as a gold medalist.

The content of this website is not an offer to sell or the solicitation of an offer to buy any security. The content is distributed for informational purposes only and should not be construed as investment advice or a recommendation to sell or buy any security or other investment, or undertake any investment strategy. There are no warranties, expressed or implied, as to the accuracy, completeness, or results obtained from any information set forth on this website. BeyondProxy’s officers, directors, employees, and/or contributing authors may have positions in and may, from time to time, make purchases or sales of the securities or other investments discussed or evaluated herein.

S2E28: Investing in Housing and Homebuilders

April 5, 2022 in Audio, Podcast, This Week in Intelligent Investing

It’s a pleasure to share with you Season 2 Episode 28 of This Week in Intelligent Investing, co-hosted by

  • Phil Ordway of Anabatic Investment Partners in Chicago, Illinois;
  • Elliot Turner of RGA Investment Advisors in Stamford, Connecticut; and
  • John Mihaljevic of MOI Global in Zurich, Switzerland.

Enjoy the conversation!

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In this episode, co-hosts Phil Ordway, Elliot Turner, and John Mihaljevic discuss intelligent investing in housing and homebuilders. We focus on the sector dynamics, without giving specific investment recommendations.

Follow Up

Would you like to get in touch?

Follow This Week in Intelligent Investing on Twitter.

Engage on Twitter with Elliot, Phil, or John.

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This Week in Intelligent Investing is available on Amazon Podcasts, Apple Podcasts, Google Podcasts, Pandora, Podbean, Spotify, Stitcher, TuneIn, and YouTube.

If you missed any past episodes, you can listen to them here.

About the Podcast Co-Hosts

Philip Ordway is Managing Principal and Portfolio Manager of Anabatic Fund, L.P. Previously, Philip was a partner at Chicago Fundamental Investment Partners (CFIP). At CFIP, which he joined in 2007, Philip was responsible for investments across the capital structure in various industries. Prior to joining CFIP, Philip was an analyst in structured corporate finance with Citigroup Global Markets, Inc. from 2002 to 2005. Philip earned his B.S. in Education & Social Policy and Economics from Northwestern University in 2002 and his M.B.A. from the Kellogg School of Management at Northwestern University in 2007, where he now serves as an Adjunct Professor in the Finance Department.

Elliot Turner is a co-founder and Managing Partner, CIO at RGA Investment Advisors, LLC. RGA Investment Advisors runs a long-term, low turnover, growth at a reasonable price investment strategy seeking out global opportunities. Elliot focuses on discovering and analyzing long-term, high quality investment opportunities and strategic portfolio management. Prior to joining RGA, Elliot managed portfolios at at AustinWeston Asset Management LLC, Chimera Securities and T3 Capital. Elliot holds the Chartered Financial Analyst (CFA) designation as well as a Juris Doctor from Brooklyn Law School.. He also holds a Bachelor of Arts degree from Emory University where he double majored in Political Science and Philosophy.

John Mihaljevic leads MOI Global and serves as managing editor of The Manual of Ideas. He managed a private partnership, Mihaljevic Partners LP, from 2005-2016. John is a winner of the Value Investors Club’s prize for best investment idea. He is a trained capital allocator, having studied under Yale University Chief Investment Officer David Swensen and served as Research Assistant to Nobel Laureate James Tobin. John holds a BA in Economics, summa cum laude, from Yale and is a CFA charterholder.

The content of this podcast is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction. The content is distributed for informational purposes only and should not be construed as investment advice or a recommendation to sell or buy any security or other investment, or undertake any investment strategy. There are no warranties, expressed or implied, as to the accuracy, completeness, or results obtained from any information set forth on this podcast. The podcast participants and their affiliates may have positions in and may, from time to time, make purchases or sales of the securities or other investments discussed or evaluated on this podcast. [dkpdf-remove]

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