Top Reads this Week (28 April)


Rounding up top reads from around the web, as shared by fellow investors and myself in the Financial Horse Facebook Group.

Hype, Trust and Greed do not make good investment strategies (Risk N Returns)

How people suffer significant losses of their investment capital, 3 common causes: Believing in Hype, Blind Trust and Pure Greed.

Tweedy, Browne: 10 ways to beat an index (Part 1) (Investing Nook)

Tweedy, Browne religiously follows a deep value investing approach. Only through this way, can they readily pounce on any potential investment opportunities.

Practioner’s Guide to MMT (Macro Tourist)

There are two parts to MMT; how the modern fiat-based economy works and then the policies that are advocated to maximize output under these conditions. It’s easy to dismiss MMT as the ravings of the far-left, but MMT theory is extremely useful in understanding how the economy actually works. You might not like it. You might wish it were different. But I think the hallmark of a great trader/investor is to stay open-minded.

Before You Buy Your Next Stock, Ask Yourself These 10 Questions (The Asian Contrarian)

Where do you even begin? How can you filter out the “noise” and focus on things that really matter? With a checklist, you can ignore the “noise” and focus on identifying high-quality investments that will help compound your portfolio.

Singtel Technical Analysis 2019 (Ichimoku Cloud) (The Babylonians)

Since Singtel has rallied over the past few days, technical analysis using Ichimoku to get a quick sense on whether a trend reversal has occurred.

Yield Curve Blurry? Try Out These Slowdown Predictors (Bloomberg)

Some people, including Fed officials, believe that the yield curve may not be serving as a reliable signal in this instance. But there are other indicators that market observers follow for the same reason, and the current uncertainty the yield curve makes them more important than usual.

Cryptocurrencies shed $10 billion in an hour on worries over ‘stablecoin’ tether (CNBC)

The cryptocurrency market shed about $10 billion in value in the space of an hour late Thursday, CoinMarketCap data showed.

ARA seeks listing on SGX for $978m Hyatt Hotels portfolio (The Straits Times)

Real estate investment group ARA Group is spinning off US$719.5 million ($978 million) of US hotels under the Hyatt brand into a business trust that it wants to list on the Singapore Exchange (SGX). If the listing is successful, it will be the Singapore bourse’s first hospitality trust focused purely on the United States market. It will also be the first new counter on SGX’s Mainboard since the July 2018 listing of foodcourt operator Koufu Group.

Another US hospitality REIT lodges its prelim prospectus (TheEdge Singapore)

Eagle Hospitality Trust (EHT) has lodged its preliminary prospectus for a listing on the Singapore Exchange, seeking to raise gross proceeds of around US$453 million ($619 million). This comes a day after another US hospitality REIT — ARA Hospitality Trust — lodged its prelim IPO prospectus on Wednesday to raise some US$450.7 million.

Thailand set to be SE Asia’s hottest IPO market with US$5b of planned floats in second half of 2019 (The Business Times)

Thailand is set to see the most funds raised from IPOs in South-east Asia this year, with more than US$5 billion expected to be garnered in the second half. South-east Asia’s second largest economy is expected to see listings from the retail arm of state-owned oil company PTT Pcl, the hospitality business of tycoon Charoen Sirivadhanabhakdi’s empire, and a unit of the country’s largest retailer Central Group.

Best World shares down 9% on attacks by short sellers Bonitas Research and Valiant Varriors (The Edge Singapore)

Best World International, the distributor of skincare, nutritional and wellness products, has been hit by damning reports by two separate short sellers on Wednesday morning: Bonitas Research and Valiant Varriors. Bonitas says Best World is a “fraud” and alleges its sales in China are a fraction of what was reported to its shareholders.

What Marvel’s History and Success Taught Us About Personal Finance (Seedly)

TLDR: Marvel’s journey from bankruptcy to billions

One Group will be Spectacularly Wrong (Macro Tourist)

In all my time studying markets, I can’t recall a single instance when the split between “pros” and “retail” has ever been higher. Amongst the professionals who manage money for a living, there seems to be a universal bearishness regarding the outlook for the stock market in the coming months. But there are plenty of bulls out there spouting their optimistic forecasts all over the financial news networks.

Till next time, Financial Horse, signing out! 

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