Key holdings

Share to Twitter Share to Linkedin I first made Skechers USA SKX a Long Idea in April 2016 and closed the position in March 2018 to lock in its 5% outperformance of the S&P 500. Shortly thereafter, I made the stock a Long Idea again in May 2018. Since then, the stock is up 29% compared to a 53% gain for the S&P 500. The stock still presents excellent risk/reward and could be worth $70+/share today – a 79%+ upside. Skechers’ Stock Has Strong Upside Based on: the company’s large physical store footprint consistent market share gains large scale advantages the company enjoys as the third largest global footwear brand ability to reach its niche market with comfort and value current valuation of the stock implies profits will permanently fall 20% below current levels. Figure 1: Long Idea Performance: From Date of Publication Through 5/2/2022 What’s Working Stores Drive Growth: Skechers operates a wholesale business … [Read more...] about Disciplined Growth Makes Skechers USA A Quality Holding

Share to Twitter Share to Linkedin When you purchase Bitcoin from a centralized exchange, you never know whether your account is credited with actual Bitcoin or paper Bitcoin. Paper Bitcoin is a "I owe you" Bitcoin, implying that the exchange owes you a certain amount of Bitcoin. The only way to ensure that the Bitcoin you purchased is genuine is to withdraw it to a self-storage wallet or sell it for another asset or product. To save on transaction fees, most exchanges will not create a separate wallet for your account and transfer your Bitcoin to that address. The Bitcoin balance displayed on your centralized exchange account is a number next to your name on a spreadsheet. This explains why, despite Bitcoin's 10-minute block time, exchanges can instantly transfer Bitcoin to your account. That is, the time it takes to transfer Bitcoin from one address to another. Exchanges keep their Bitcoin in a wallet or set of wallets where they possess the private keys … [Read more...] about Why Keeping Bitcoin On An Exchange Is Driving The Price Down

- A + A SHANGHAI (May 17): Chinese stocks ended higher on Tuesday (May 17) as Shanghai achieved a key Covid-19-related milestone required to ease restrictions, while tech giants and Hong Kong shares logged the biggest jump in six weeks following reports about a meeting by a top political consultative body to promote the digital economy. Both Internet firms listed in Hong Kong and the Hang Seng benchmark surged the most since April 29, when authorities vowed at the top-level Politburo meeting to step up policy support to stabilise the economy and financial markets. The blue-chip CSI 300 Index ended 1.3% higher at 4,005.89, while the Shanghai Composite Index gained 0.7% to 3,093.70 points. The Hang Seng Index rose 3.3% to 20,602.52, while the China Enterprises Index gained 3.7% to 7,076.80 points. Shanghai reported a long-awaited milestone of three straight days with no new Covid-19 cases outside quarantine zones — the "zero Covid" status. A nationwide caseload … [Read more...] about China stocks close up as Shanghai’s Covid-19 situation improves, tech giants soar

BEIJING (Bloomberg): China’s top economic official gave an unusual public show of support for digital platform companies Tuesday (May 17), suggesting Beijing may be ready to let up on a year-long clampdown on technology giants as it battles a slowing economy. The government will support the development of digital economy companies and their public listings, Vice Premier Liu He, who is President Xi Jinping’s most senior economic aide, said after a symposium with the heads of some of the nation’s largest private firms. Baidu Inc. founder Robin Li, Qihoo 360 Technology Co.’s Zhou Hongyu and NetEase Inc chief William Ding were among the tech luminaries spotted at the forum, according to a video posted online. Liu’s remarks reported by state media were short on detail but signal further easing of the regulatory risk for China’s technology behemoths including Baidu and Tencent Holdings Ltd., as investors await clues on whether a rout in their shares is near an end. The Hang Seng Tech … [Read more...] about China economy czar vows support for tech firms after crackdown

Azmin says Nextracker would strive to enhance products from Malaysia to penetrate not only the US market, but also globally. (Photo by Mohd Suhaimi Mohamed Yusuf/The Edge) - A + A SAN FRANCISCO (May 17): Ferrotec (USA) Corporation has committed to investing more than RM500 million in new investment in Malaysia to set up its first manufacturing facility in Southeast Asia. Spanning 8.13 hectares that will include a 800,000 sq ft manufacturing plant in the Kulim Hi-Tech Park, the facility’s construction is expected to begin in the next few weeks. Senior Minister and International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali said the global supplier of materials, components and precision systems and a worldwide leader in quartz material fabrication for the semiconductor industry also committed to generating between 250 and 500 high-skilled jobs for Malaysians. “They are also committed to assisting small and medium enterprises (SMEs) in Malaysia in … [Read more...] about Malaysia secures over RM500m new investment from Ferrotec, says Azmin

The group has announced that its four top executives involved in the submission of false information have paid a total of RM16 million in compounds issued by the SC. (Photo by Mohamad Shahril Basri/The Edge) - A + A KUALA LUMPUR (May 17): Financially troubled Serba Dinamik Holdings Bhd gained investors' interest and emerged as the top actively traded counter on the local bourse on Tuesday (May 17). The stock opened one sen or 8.33% higher at 13 sen and surged further to hit an intraday high of 22 sen. It ended the trading day 4.5 sen or 37.5% higher at 16.5 sen, giving it a market capitalisation of RM614.99 million. A total of 1.05 billion shares changed hands, representing 28.15% of its share issuance capital. Notably, shares in the oil and gas service provider resumed trading on May 9 after a six-month long suspension since October last year. The stock sank to a new low of six sen on May 11, which was the third day of resumption of trading. … [Read more...] about Serba Dinamik emerges as top actively traded stock, rises up to 22 sen

(CNN) The US Food and Drug Administration said Monday that it is making it easier to import certain infant formulas as it works to address a nationwide shortage . The US ordinarily produces 98% of the infant formula it uses, with imported formula primarily coming from Mexico, Ireland and the Netherlands, the agency said in a statement. But because of the shortage, the FDA is outlining a process by which it "would not object to the importation of certain infant formula products intended for a foreign market," as well as the US distribution of products that were made domestically for export to other countries. "Companies seeking to take advantage of these flexibilities should submit information for the FDA to quickly evaluate whether the product can be used safely and whether it provides adequate nutrition," the agency said. "For example, labeling, information on nutritional adequacy and safety testing, and information about facility inspection history." The … [Read more...] about FDA announces it will make it easier to import some baby formulas to ease shortage

Two of the most interesting post-pandemic issues for the entrepreneurs running venture-backed businesses -- which have basically been on an involuntary hold for the last year or two -- are pace and story, and the conflicting attitudes toward each in the board room. Both are already topics of painful and somewhat heated discussions in meetings everywhere, pitting the impatient VCs against management teams. The VCs are all about IRR. Every investment they make is "on the clock" and their investors are always watching, waiting and wondering about how quickly and how much a given fund will return. They're all in for pushing the pace of everything forward as quickly as possible. Meanwhile, the far more conservative and cautious management teams are still somewhat traumatized and only now starting to recover from the shock of seeing their businesses abruptly shut down. These managers are also realizing that their years of pain, sacrifice and stress were almost lost forever. In a … [Read more...] about The New War Between VCs and Entrepreneurs

Here's a paradox. On the one hand, the two of us have devoted much of our careers to the business philosophy known as open-book management. Bill runs a company called Open-Book Coaching. John coined the phrase in these pages a number of years ago and has written two books on the subject. On the other hand, we now don't use the term much, if at all. It's not that our beliefs have changed. We think every company should help its employees learn to think and act like partners, rather than like hired hands. Everyone in a company--and we do mean everyone--should understand the economics of the business, take responsibility for improving the company's performance , and share in the wealth they help create. These are the precepts of open-book management, and we think it's all just common sense. You can see the approach at work in companies all over the country, from Missouri-based SRC Holdings --the granddaddy of open-book management--to young entrepreneurial businesses … [Read more...] about Manage Openly. Just Don’t Call It Open Book

Seems that there's always time to do things over--because we often have no choice. Too many managers keep forgetting that it's a whole lot smarter and much cheaper in the long run to take a little more time at the outset to get things right the first time.  As the tailors all say: measure twice, cut once. In the case of your new hires-- the inbound talent that will ultimately make or break your business-- if you get the messaging and the training wrong at the beginning, these are generally unrecoverable errors. Things will only get worse over time. And keep in mind that "newbies" come in all sizes and ages. Gray hair is a sign of age, not necessarily wisdom, experience, or knowledge that is specific and relevant to your business. If you mess things up at the start, you'll soon enough get to that awful and uncomfortable conversation where someone will ask you about one of the new hires and you'll say "I don't know" or "the jury's still out." It isn't. When you say, "I don't … [Read more...] about Are You Doing Enough for Your Newbies?