Galih

Thief Executive Officer

[WitchDoctorDB @db_witch]

First virus in history to get bullied into going offline

[𝐍𝐚𝐮𝐭 @nautfcb]

that’s quite an age gap

[Galih @shuttleark]

wadowwww te matek iki

[Meridian Research Indonesia @meridian_rsrch]

Just as we warned in our previous letter:

"The question is not whether foreign investors will eventually sell their holdings? The question is when?"

This week, $BBCA lost around Rp77Tn in market capitalization. Historically, this ranks among the 5 worst weeks the stock ever recorded since IPO. One word, ruthless.

-

As for the Prajogo group, the message appears equally clear.

"The issue with Prajogo related names is different. If the purpose of the nominee engineering was to eventually pass the bags to foreign investors, and that window is now closed, then ask yourself, who is left on the order book to buy? Prajogo himself? For what purpose? The answer is nobody."

The urgency to distribute holdings to retail investors is becoming increasingly visible. Intraday volatility in $TPIA has been extreme, with more than Rp5Tn changing hands in a single session.

-

Our view remains unchanged, the bottom is not in. Since there is little room to express bearish views locally, future letters will spend more time exploring opportunities in global markets.

But first, we will be covering two topics that deserve attention, sovereign credit ratings and MSCI related developments.

Stay tuned!

#MeridianResearch

[Galih @shuttleark]

just let me die ffs 💀

[Galih @shuttleark]

fakmen 😵‍💫

[Galih @shuttleark]

@disastrousmen btul

[Galih @shuttleark]

@kromikirbs 🫶🏼🫶🏼🫶🏼

[osama @0ba0sama]

This is what a stable relationship looks like

[Galih @shuttleark]

retrograde cinema 🥶

[໊໊ @juniorkingpp]

excellent use of freewill

[Galih @shuttleark]

la liga haillallahh

[Galih @shuttleark]

😵😵😵

[Ramin Nasibov @RaminNasibov]

I don't know why you need this information, but this is the aerodynamics of a beaver

[Galih @shuttleark]

adhem e

[minaron @godmitzu]

HOW IS SHE EVEN REAL

[Galih @shuttleark]

monyet

[Galih @shuttleark]

COKKKKK HARI YG UWOPO IKI JINKKKKKK

[Galih @shuttleark]

@ajibayubima rawr mini

[Galih @shuttleark]

photobox enjoyer ngene aku saiki

[Galih @shuttleark]

@alfredodp_ ilmune sek durung nyampe rono do