Value Praya

Biting off more than I can chew

[Value Praya @ValuePraya]

7 days, 7 writeups, 30k words on one of the cheapest sectors anywhere in the world. Starting today with an industry primer and overview of 25 companies you've (probably) never heard of. Link in bio.

[Value Praya @ValuePraya]

@MikeFritzell 5 years later:
> BLOOMBERG: What's behind the mysterious spike in impairments at Korean companies?

[Value Praya @ValuePraya]

@pandawatch88 Richard:

[Value Praya @ValuePraya]

@DaBao_ @MikeFritzell Turns out there WAS something stopping the other 2 👀

[Value Praya @ValuePraya]

@pandawatch88 I aint letting no clanker tell me I suck

[Value Praya @ValuePraya]

@AlphaExponent @zephyr_z9 Great to see you back, thought you cured your addiction to this hellsite. Heres another sustainable stat for you, factory workers at SK hynix will clear 500k usd this year

[Value Praya @ValuePraya]

@pandawatch88 John Lee going to queue up at hsbc tomorrow morning to reopen his account. Pretty sure he still gets his salary trucked in cash lol

[Value Praya @ValuePraya]

@pandawatch88 @DavidInglesTV Even more wild: UK went from 3.8T to 3.9T in 10 yrs 😂

[Value Praya @ValuePraya]

@pandawatch88 THEYRE KICKING OUT ALIBABA (health)

[Value Praya @ValuePraya]

@thepunditoor @GMTResearch They were trading <10x p 'e' , <5x 'ev'/'ebitda' before today, hardly accretive multiples to raise

[Value Praya @ValuePraya]

@dennisihong @JerryCap Not exclusive, they use dlocal for some emerging markets. Initial 5 year deal expires Nov this year

[Value Praya @ValuePraya]

@bauhiniacapital @__paleologo Covid was magical for this, completely deserted ferry

[Value Praya @ValuePraya]

@pandawatch88 How much did he spend on mckinsey to learn that

[Value Praya @ValuePraya]

@pandawatch88 Thanks but no thanks, I'll wait for the free crayfish fishing yacht from his new yacht venture

[Value Praya @ValuePraya]

@Decipherintl https://t.co/rX4dXNmKjg
This might explain the spinoff timing

[Value Praya @ValuePraya]

@pandawatch88 Do you know any way to get access to STAR IPOs. Gotta gamba on that yushu y'know

[Value Praya @ValuePraya]

@orrdavid @AltayCapital Interestingly the new Chinese factories in SEA where they clone the supply chain (same suppliers from China) are visibly more efficient than the Western ones in SEA where they try to rebuild a local supply chain. Higher upfront cost to create ecosystem but lower ongoing mfg cost.

[Value Praya @ValuePraya]

@orrdavid @AltayCapital Having visited factories all over the place Chinese high end factories are right up there with the (very few) no expense spared new factories in the West. Theres simply no way a 100 year old plant in Europe/US, no matter how much you throw at it, can compete with greenfield

[Value Praya @ValuePraya]

@Mufasa_Capital Founders started with a satirical pro democracy paper, Linxi worked quite closely with them during the 2014 protests (e.g. they put him on a time magazine style front page)

[Value Praya @ValuePraya]

@Mufasa_Capital Other channels that have died since a covid boost:
https://t.co/O6Yx0FF8bD
https://t.co/ecARu5aE8J
https://t.co/ITkR4QZI7B
Tiny market = max 500k-ish subs, but they all had 20-50 person teams. Economics just made no sense

[Value Praya @ValuePraya]

@Mufasa_Capital Founders disengaged. Print biz dead, only Youtube channel left. Views down 50% from Covid, sponsorships more (sponsors critical in a subscale market like HK). Om screen talent have practically all left, a single guy left who generates all the views. He's underpaid+minimal equity