Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Thematic (Sector/Industry)

<ul>
<li>China has unveiled measures to emphasize a major push for passenger and freight movement by railroad</li>
<li>Rolling stock companies  play catch-up from the COVID under-investment years</li>
<li>High speed freight trains on near term horizon to compete with highway for e-commerce business</li>
</ul>


China has unveiled measures to emphasize a major push for passenger and freight movement by railroad
Rolling stock companies  play catch-up from the COVID under-investment years
High speed freight trains on near term horizon to compete with highway for e-commerce business


Cross Asset Strategy

<ul>
<li>Gold price is a reflection of underlying global stress in currency markets</li>
<li>Gold price is a reflection of actual not reported real rates of interest</li>
<li>Gold price is a reflection of global increased demand from central banks and consumers</li>
</ul>


Gold price is a reflection of underlying global stress in currency markets
Gold price is a reflection of actual not reported real rates of interest
Gold price is a reflection of global increased demand from central banks and consumers


<ul>
<li>Hong Kong market is at historically cheap valuations. So what's new?</li>
<li>Capitulation bottom in late January/early February dramatically reduced shorts and now long positioning starts.</li>
<li>China retail buying is taking a cue from China's government buying programs and SOE company directives.</li>
</ul>


Hong Kong market is at historically cheap valuations. So what's new?
Capitulation bottom in late January/early February dramatically reduced shorts and now long positioning starts.
China retail buying is taking a cue from China's government buying programs and SOE company directives.


Technically Speaking: The Early Bird Gets the Worm, China Retail Buys Hong Kong

<ul>
<li>HSI has now closed above its 3 year downtrend and is poised to advance to its next resistance level</li>
<li>International brokers finally turning more bullish on the market as the US, Europe and Japan markets turn down</li>
<li>High beta sectors are set to outperform as global investors reallocate to the cheapest AND 2nd largest tech sector in the world</li>
</ul>


HSI has now closed above its 3 year downtrend and is poised to advance to its next resistance level
International brokers finally turning more bullish on the market as the US, Europe and Japan markets turn down
High beta sectors are set to outperform as global investors reallocate to the cheapest AND 2nd largest tech sector in the world


Hong Kong: The Glass Is Half Full, Time to BUY Beta

Equity Bottom-Up

Weibo Corp operates as a social media platform for people to create, distribute and discover Chinese language contents. The Company offers users public self expression in real time with a powerful platform for social interaction, as well as content aggregation and distribution. Weibo enables its advertising and marketing customers to promote their brands and services to users.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/weibo-corp" target="_blank" data-smartkarma-citation="entities:35280:1" rel="noopener">Weibo (9898 HK)</a> is an inexpensive profitable large social media company in China</li>
<li>Weibo generates a large cash flow which it uses to pay a 9% dividend yield</li>
<li>Weibo has synergies with Alibaba's core e-commerce business and fits well within its other media company ecosystem</li>
</ul>



Weibo (9898 HK) is an inexpensive profitable large social media company in China
Weibo generates a large cash flow which it uses to pay a 9% dividend yield
Weibo has synergies with Alibaba's core e-commerce business and fits well within its other media company ecosystem


BABA's Babies: They're All Grown Now! Weibo the Twitter of China

Asian Hedge Fund manager with more than 20 years experience managing Asian Long/Short Equity funds.  Macroeconomic top down analysis generating thematic investments which are further researched from bottom up.  Research is supplemented with advanced technical analysis.