In an episode of The Zurich Project Podcast, presented by MOI Global, Sid Choraria discusses the process of intelligent investing in Asia. Sid addresses several key topics:
- Key aspects of a winning investment process
- Identifying great businesses in Asia (case studies)
- Differences in opportunity across Asian markets
- Choosing between similarly valued great businesses
- Avoiding corporate governance and other landmines
- Thoughts on the art of portfolio management
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About the featured guest:
Sid Choraria is a private investor focused on wonderful businesses at wonderful prices in Asian markets including India, China, Japan, Australia and ASEAN. Asian markets are inefficient and less competitive relative to developed markets and provide a rich (and growing) fertile fishing ground for global value investors.
In 2013, Sid gained the attention of Warren Buffett with a letter and investment writeup on a 125-year old wide moat Japanese company that was not actively covered with reinvestment growth opportunity, high returns on capital, a unique culture and a wonderful price. His letter elicited a rare response from Mr. Buffett, recognizing the writeup and encouraging Sid to “keep his eyes open!” for great businesses in Asia. Since the letter, the stock rose nearly 4x including dividends significantly outperforming US and Asian indices.
His research contributions have been publicly cited in international financial media including CNBC, The Wall Street Journal, Bloomberg, Business Insider, Goldman Sachs Alumni Network, Forbes, Sydney Morning Herald, Australian Financial Review and The Manual of Ideas.
His work has been recognized and judged by over 70 independent fund managers and allocators as a repeat winner or finalist in multiple global research awards. In 2015, Sid was the recipient of the Best Analyst Excellence Award by SumZero from a pool of over 13,000 analysts and fund managers globally. In 2014, he won the Best Global Short Award from Factset. In 2014, he was a Semi-Finalist in the Ira Sohn Conference Idea Contest. In 2013, he was a Finalist in the Value Investing Congress competition which appeared in the WSJ.
Sid has been invited to speak on value investing in Asian at leading universities, companies and conferences including Intel, Princeton, Harvard, Columbia, Stanford, Wharton, Brown, USC, NYU Stern, Government of Investment Corp (GIC) Singapore, Value Spain and Alpha Ideas India.
In his past roles, he served in senior investment roles in Asia, including Portfolio Manager and Head of Asia Research for a global value firm with $4bn AUM, where he helped with the launch of the Singapore office in 2017. He also served as Portfolio Manager and Vice President at an Asian long/short hedge fund with $3bn AUM. Previously, Sid worked at Goldman Sachs and Merrill Lynch investment banking in Asia.
He received his MBA from New York University Stern School in 2011 and was a Harvey Beker Scholarship recipient holder. During his MBA, Sid worked at Bandera Partners under Jeff Gramm, Founder of Bandera Partners, Author of “Dear Chairman” and Value Investing Professor at Columbia Business School.
About The Author: MOI Global Editorial Team
The MOI Global Editorial Team, led by John Mihaljevic, CFA, includes community builders, event organizers, writers, editors, research associates, security analysts, and fanatical member support advocates. Our sole purpose is to serve the members of MOI Global as well as we possibly can in order to help them learn, invest intelligently, and build lifelong friendships with like-minded people.
Who is MOI Global? In recent years, The Manual of Ideas has expanded to become more than simply “the very best investing newsletter on the planet” (Mohnish Pabrai). We are now a thriving global community of intelligent investors, connected through great ideas, thought-provoking interviews, online conferences, live member events, and much more.
Members of MOI Global enjoy complimentary access to a growing array of resources and content related to the art of intelligent investing. Members also enjoy preferential access to selected offline events as well as exclusive access to other events hosted by MOI Global, including the Zurich Project Summit, the Latticework Conference, and Ideaweek.
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