Scarcity Partners’ Post

“Blood in the streets” I met William Tsang, Portfolio Manager of Chartwell Capital when I was in Henan, China for a property trip. I discovered he too, was a follower of value investing! Since then we kept in touch. Also met him earlier in Hong Kong this year. He’s the “go-to” guy for me when it comes to understanding Hong Kong stock market. Here’s what I learnt from MONEY FM 89.3 podcast: -China struggles will continue to hit Hong Kong’s stock market -Out of 2,500 HK stocks, many are local Chinese enterprises, while 300-400 are local HK companies. -HK stock market is a proxy for global investors who may not want to invest directly in the mainland stock market -- that's why sell-off in HK is so bad. -Top 3 HK sector performance – consumer durables, telco and transport -Bottom 3 HK sector performance – property, semiconductor and food/retail -Money is “waiting on the side” watching for major Chinese stimulus measures. -Hard to ignore Hong Kong market – one of most freely-traded markets globally, investors have major allocation in the market, stable HKD/USD, and English Common Law aligned well with major developed markets. -With potential “soft recession” and the US election year in 2024, money may move back into emerging markets -- specifically Asia. -Opportunities: Pick local HK companies (revenues from US/overseas or Greater Bay Area) with healthy balance sheets, little debt and pay high dividends (10-12% yield). Risks: Bad sentiments and currency risks Really glad Sean Li-wen Cheong got to speak with William -- excellent interview! Thank you😁 (documenting this note on HK markets for my own investing journey) https://lnkd.in/gMEhZ2qk

Regulation has long impacted and driven investor sentiment. It has also played a central role in deal complexity, particularly with cross-border transactions and how best to structure SPVs. https://bit.ly/3M9QDuY In early 2024 CSC canvassed the views of 400 senior private markets professionals in Europe, North America, and Asia Pacific on a range of industry subjects, including regulation. Read our latest blog to find out how prepared they said they are for new regulatory developments, and how best they can manage the significant complexity that comes from today’s multi-jurisdictional, global investment market. #privatemarkets #realassets #SPV

How risky is your REIT investment? Singapore's MONEY FM Breakfast Program speaks to XDI about their recent report analysing climate change risks to assets held by the APAC region's 20 largest REITs. Listen here: https://lnkd.in/gcrKhiyG Spotify: https://lnkd.in/gYgWcFA9 #XDI #physicalclimaterisk #climateimpacts #REIT #realestate #investment

In a new article for Thomson Reuters' PLC Magazine, Richard Werner, Tom Bacon, Olivia Russell and Soroush Fini discuss the process for a company with a primary listing in a jurisdiction outside of the UK that wishes to have a secondary listing of its shares on the Main Market of the London Stock Exchange. They explain the reasons why a company may wish to put in place a secondary listing in London, recent UK legal developments, eligibility requirements, continuing obligations and other considerations. To read their full insights, click here: https://lnkd.in/eNSGSvXd This article first appeared in the October 2024 issue of PLC Magazine. #LondonStockExchange #CapitalMarkets

We’re discussing the idea of capturing premium across sectors & broad markets, plus how to adjust to the idea that markets are not linear. Join Dan Weiskopf, Erik Thompson & Rob Pascarella, PE for an in-depth look tomorrow morning, Tuesday 9/24 at 11am ET at www.thinktankexchange.com #etfs #investing #sectorinvesting #markets #innovation #etfinvesting

Which asset classes were the leaders and which the laggards in #privateassets performance in 2023? Where did #privaterealestate stand? #MSCIResearch summarizes the latest update of the Burgiss Manager Universe, with findings for real assets, private debt and private equity. Read more: http://ms.spr.ly/6045YOhlV

The first quarter of 2024 once again underlined the importance of having broad exposure to international markets. International shares outperformed Australasian indices, continuing a trend that played out over most of last year. Our Highgate Partners Autumn Update summarises key developments in financial markets in Q1 2024. This quarter's feature article pays tribute to the work of the late Daniel Kahneman, who explained why many investors allow loss aversion to get the better of them. #investment #financialadvice #financialmarkets #investmentadvice

In the March edition of AIM Journal, Hardeep Tamana looks at whether the potential change of administration in Westminster later this year could pave the way for some quick, light-touch wins in terms of securities digitisation - and how that might benefit the UK's capital markets. #generalelection #digitization https://lnkd.in/gS6RYi29

#Activism in the financial sector is always interesting to watch. This tussle got the SEC involved. https://lnkd.in/eZUbFHiT #wealthmanagement #mutualfunds #financialadvisors #eventdriven

The March edition of Capital Markets Update is now live. This edition rounds up the previous month's regulatory stories in the equity capital markets and forecasts developments to come as March marches on. Explore all this and more insight from our Corporate team below. #CapitalMarkets #WalkerMorris #ForgeYourOwnPath Richard Naish, John Hamer, Debbie Jackson, Daniel O'Gorman, Jo Stephenson, Oliver Duke, Thomas Mieszkowski.