Increased Tensions Make Increased Global Diversification Increasingly Risky Dedication: Damn the Consequences This edition of High China Conviction is for you, Nancy Pelosi. Because if there’s one principle left all Americans can agree on, it’s that NO ONE tells Americans what they can or can’t do. To hell with the consequences, or the past…
ARE YOU THE RIGHT KIND OF STUBBORN?
You can’t change minds, but you CAN change your risk-management profile. If the Internet has taught us one thing, it’s that emotion trumps information. Of all the things you’ll see online, from wondrous to grotesque, you’ll never see a comment reading, “Aha, I didn’t realize that. You’re right. You’ve changed my opinion, thank you.” This…
Nothing More Than Feelings
The real meaning of Dragon’s day, and its effect on China sentiment A brief China culture lesson – stay with me! Today is the Dragon Boat Festival, and if you understand the Dragon Boat Festival, you understand much about Chinese sentiment. Sentiment, of course, has been the key force holding down Chinese stocks since China’s…
Home for the Holidays
Locked Down, But Not Out, in Beijing China’s May Holiday usually means Spring-Break style revelry for all ages. A time when only F&B, tourism, and retail are open for business. The rest of us relax, and delight in a New Year Festival do-over, minus the sharp weather and onerous family obligations. So as China slumps…
China A-Shares: Active vs. Passive – A Veteran China Investor Weighs In
In our inaugural episode, veteran China investor Qi Wang explains how active and passive strategies typically perform in China’s onshore equity markets. Mr. Wang has over 23 years of experience in global and Chinese equities. Prior to joining MegaTrust, he was Head of China Index Research at MSCI Inc., the global index and analytics solutions…
The Bell on the Tiger
Chinese stocks remain down, so they’re “out”. Think China is uninvestable right now? Maybe you’re right. For right now…. After all, China’s financial hub, Shanghai, is on lockdown. Granted, financial workers are ordered to sleep in their offices, lest the gears grind to a complete halt. But still, this stubborn commitment to Zero Covid speaks to…
Hope Springs Eternal
CHINA MACRO A Separate Peace The outlook for financial markets has been overshadowed by war. Increased risk & drag on growth threaten global economic prospects, but particularly for NATO countries. Suddenly, East Asia, powered by the growth engine that is China, beckons as a haven of stability and “business first” policies. Logic dictates a two-part…
2022 – The Year of the Paper Tiger?
Dear Reader, In Mandarin, the term paper tiger (zhilaohu) refers to someone who seems very powerful and threatening, but is in fact ineffectual, due to his own incompetence. As the Chinese Year of the Tiger dawns, we want to concisely lay out China’s macro and market position, based on where we’ve been, and make some…
What Did You Expect to Come Out of the End of the Year of the Ox?
The Tirith Beacon’s December 2021 Macro Wrap Up The only thing more precious than gold (and Bitcoin) is time, especially holiday time. So we’ve packed this month’s macro takeaways into as brief a format as possible, with an open invitation to get in touch and find out more. Here’s wishing you and yours health, wealth…