Longriver Podcast

My guest is Wayne Jones, co-Founder and Portfolio Manager of the Ganes Focused Value Fund, a Brisbane, Australia, based investment manager. In this conversation, we cover how Wayne has built his eclectic circle of competence over time; and then dive into the challenges facing Domino's Pizza Enterprises, one of his long-term holdings. Longriver Investment Partners Limited (“Longriver”) is licensed with the Securities and Futures Commission of Hong Kong (“SFC”) to provide Type 4 and Type 9 regulated activities in Hong Kong to Professional Investors only. Investment involves risk. This podcast is for informational purposes only and it is not intended as promotional material in any respect. It does not constitute an offer, recommendation, or solicitation to buy or sell any securities or services. Longriver makes no representations or warranties, express or implied, as to the accuracy or completeness of the content.

Following the publication of the sixth edition of Pillar Legal's primer on the regulation of China's gaming industry, I spoke with Charles Yu (俞超), a partner at the firm and head of its Shanghai office.  Our conversation put 2021's regulatory campaign into the broader context of the Chinese government's struggle to combat gaming addiction; the "murky" process for new games to be licensed; the challenges of maintaining digital privacy; how the policy has turned to be supportive again; and how Chinese firms have responded by setting their sights on overseas markets.   Longriver Investment Partners Limited (“Longriver”) is licensed with the Securities and Futures Commission of Hong Kong (“SFC”) to provide Type 4 and Type 9 regulated activities in Hong Kong to Professional Investors only. Investment involves risk. This podcast is for informational purposes only and it is not intended as promotional material in any respect. It does not constitute an offer, recommendation, or solicitation to buy or sell any securities or services. Longriver makes no representations or warranties, express or implied, as to the accuracy or completeness of the content.

I spoke with Rob Sheridan, Founder of Uluwatu Limited, a Hong Kong based investment manager about how he's using his experience working at Global Endowment Management and Ward Ferry to identify the companies which will matter the most in Asia over the coming decades. We talked about Rob's career and road to Hong Kong; how he developed his investment process; the importance in long term investing of underwriting good management teams; portfolio construction; and how he keeps himself honest in the short term. We tied everything together at the end with a case study of freee kk, a Japanese ERP software provider. Longriver Investment Partners Limited (“Longriver”) is licensed with the Securities and Futures Commission of Hong Kong (“SFC”) to provide Type 4 and Type 9 regulated activities in Hong Kong to Professional Investors only. Investment involves risk. This podcast is for informational purposes only and it is not intended as promotional material in any respect. It does not constitute an offer, recommendation, or solicitation to buy or sell any securities or services. Longriver makes no representations or warranties, express or implied, as to the accuracy or completeness of the content.

My guest today is Dr. Daan Steenkamp, CEO of startup Codera Analytics and formerly Lead Economist and Head of the Research Unit at the South African Reserve Bank.  We tackle two big topics: 1) the difference between demand- and supply-side shocks to the economy; why central banks were slow to recognise inflation; and what it may take to re-anchor inflation expectations; and 2) how Codera is applying automation and machine learning tools from software development to economic forecasting; the difference between traditional economic models and machine learning models; and the importance of narrative in economic forecasting.  You can follow Daan @daan_steenkamp or via the Codera blog. Longriver Investment Partners Limited (“Longriver”) is licensed with the Securities and Futures Commission of Hong Kong (“SFC”) to provide Type 4 and Type 9 regulated activities in Hong Kong to Professional Investors only. Investment involves risk. This podcast is for informational purposes only and it is not intended as promotional material in any respect. It does not constitute an offer, recommendation, or solicitation to buy or sell any securities or services. Longriver makes no representations or warranties, express or implied, as to the accuracy or completeness of the content.

This time it's my turn in the hot seat!  My wife Lizzie suggested she interview me for some early thoughts on Longriver, and to let me introduce myself and what I'm building. We cover what you'll find on my CV and what you won't; how I came to investing; my strategy, 'Global Value Investing, from Asia'; as well as some of the early design choices I've made building a business and an investment process.  Longriver Investment Partners Limited (“Longriver”) is licensed with the Securities and Futures Commission of Hong Kong (“SFC”) to provide Type 4 and Type 9 regulated activities in Hong Kong to Professional Investors only. Investment involves risk. This podcast is for informational purposes only and it is not intended as promotional material in any respect. It does not constitute an offer, recommendation, or solicitation to buy or sell any securities or services. Longriver makes no representations or warranties, express or implied, as to the accuracy or completeness of the content.

Will Thrower is back for a second interview.  We cover how his research into Tesla took him to China's renewable energy industry; how China has emerged as the critical link in the world's transition to renewable energy; and how Longi Green Energy Technology epitomises the strength of vertically integrated business models.  If you like what you hear, you can read Will's new substack 'The Money Corner' and follow him on Twitter @willthrower3. You can also visit my site at www.longriverinv.com. Longriver Investment Partners Limited (“Longriver”) is licensed with the Securities and Futures Commission of Hong Kong (“SFC”) to provide Type 4 and Type 9 regulated activities in Hong Kong to Professional Investors only. Investment involves risk. This podcast is for informational purposes only and it is not intended as promotional material in any respect. It does not constitute an offer, recommendation, or solicitation to buy or sell any securities or services. Longriver makes no representations or warranties, express or implied, as to the accuracy or completeness of the content.

My guest today is Michael McGaughy, Founder and Portfolio Manager of Research Alpha, a specialist fund which invests in the equity of unloved and out-of-favor quality companies in some of the world’s least expensive stock markets, like Uzbekistan, Argentina and Nigeria. In this conversation, we cover how Michael finds safety investing in financial crises; how his experience researching family-controlled conglomerates in Asia in the early 1990s helped him see patterns when he began looking at other markets like Greece; how he became interested in Uzbekistan and his investment in the Uzbek Commodity Exchange; and his views on investing today in Russia and Ukraine. If you like what you hear, you can read Michael's blog here and follow him on Twitter @MichaelMcGaughy. You can also visit my site at www.longriverinv.com. Longriver Investment Partners Limited (“Longriver”) is licensed with the Securities and Futures Commission of Hong Kong (“SFC”) to provide Type 4 and Type 9 regulated activities in Hong Kong to Professional Investors only. Investment involves risk. This podcast is for informational purposes only and it is not intended as promotional material in any respect. It does not constitute an offer, recommendation, or solicitation to buy or sell any securities or services. Longriver makes no representations or warranties, express or implied, as to the accuracy or completeness of the content.

My guests today are Ross Cameron and Cameron Robson of Northcape Capital's Global Emerging Markets team. In this conversation, we cover the investing case for emerging markets; Northcape's unique corporate and portfolio management structures; Northcape's bespoke country discount rates; and then bring it all together with a case study of Techtronic Industries.  If you like what you hear, please visit the blog at www.longriverinv.com. Longriver Investment Partners Limited (“Longriver”) is licensed with the Securities and Futures Commission of Hong Kong (“SFC”) to provide Type 4 and Type 9 regulated activities in Hong Kong to Professional Investors only. Investment involves risk. This podcast is for informational purposes only and it is not intended as promotional material in any respect. It does not constitute an offer, recommendation, or solicitation to buy or sell any securities or services. Longriver makes no representations or warranties, express or implied, as to the accuracy or completeness of the content.

My guest today is Will Thrower, founder of Dumile Capital. In this conversation, we cover what Will is building at Dumile; how his experience with AMD took him from deep value to growth; and his thoughts on valuing Tesla, the second of two investments currently in his portfolio.    Longriver Investment Partners Limited (“Longriver”) is licensed with the Securities and Futures Commission of Hong Kong (“SFC”) to provide Type 4 and Type 9 regulated activities in Hong Kong to Professional Investors only. Investment involves risk. This podcast is for informational purposes only and it is not intended as promotional material in any respect. It does not constitute an offer, recommendation, or solicitation to buy or sell any securities or services. Longriver makes no representations or warranties, express or implied, as to the accuracy or completeness of the content.

My guest today is Richard Lawrence, Executive Chairman of Overlook Investments Limited, an independent fund management company he founded in 1991 to invest in public equity markets throughout Asia, excluding Japan. In this conversation, we discuss Richard's new book, "The Model", which explores two important questions: how did Overlook achieve its success; and how can Overlook best ensure future success? "The Model" is available today from Harriman House publishing in both hard and soft copy.  It will also be available soon on Amazon.  All proceeds from the sale of the book will go to support Proyecto Mirador, a non-profit that builds fuel-efficient cookstoves in rural communities across Central America. Longriver Investment Partners Limited (“Longriver”) is licensed with the Securities and Futures Commission of Hong Kong (“SFC”) to provide Type 4 and Type 9 regulated activities in Hong Kong to Professional Investors only. Investment involves risk. This podcast is for informational purposes only and it is not intended as promotional material in any respect. It does not constitute an offer, recommendation, or solicitation to buy or sell any securities or services. Longriver makes no representations or warranties, express or implied, as to the accuracy or completeness of the content.