In-depth research on Asian stocks
Society benefits the most when entrepreneurs focus on solving problems before monetizing the solution. But solving a problem doesn’t equate to creating a great business. GRAB has unlocked tremendous consumer value in ride-hail, but their decade-long slog in the most difficult sector in consumer interment has them squeezing out just 6 dimes of revenue out of …
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Some say you can pay any price for a great company, but was Coupang at $100bn too high? Well, one things for certain: You wouldn't have paid that for what it started out as. It started out as a money losing Groupon clone that stemmed losses by pivoting to an eBay model, but failed to …
Nintendo, a multi- generational icon, with 26 of the top 50 best selling titles, an IP portfolio 2nd to only Disney, trades at just 12x 2021 ex-cash earnings. Margins have only been improving because of the shift to digital, and they have over 30mn paying online subscribers--their first recurring revenue ever. Not to mention, their …
In 2016, Didi beat Uber, THE Silicon Valley sweetheart at the time, to gain control of China’s ride hail market despite having far less capital, fewer partners, and a smaller engineering pool. Regulatory talk aside, Didi just had the biggest IPO in the U.S. since Alibaba. So is Didi the next tech giant to join …
Alibaba today is a bit of an enigma with investor trepidation stemming from both inadequate competitive moats and fears that regulators could curtail this “monopoly.” Adding to the confusion, Alibaba likely houses more billion-dollar businesses than any other company. The fear of competition is real though: PDD is gaining share on lower end commerce, JD.com …
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Continue reading "Sea Limited: Management, Culture, and Execution"
Edit: Please check out our most recent deep dive, a 24,000 word report on Alibaba! Hi! Thanks for checking us out at DJY Research. Every month, we will do a deep dive on an Asian equity. If you like our research, please subscribe. This is our second report and final free sample. Next month, only …
Since starting DJY Research, I've been inundated with requests for an "English Asia Information Stack" - so I decided to update and reshare this post from a while ago. Enjoy! As a Westerner who has lived/worked/studied in China, I often stress how important it is to pay attention to what’s going on in Asia, especially …
Continue reading "Keeping Up with China for the English-speaking World (UPDATED)"
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