Best World

[weijian]

 Boon, not even looking at the price, so no intention to enter anytime soon.

回头太难     Anyway, just to let you know quite a no. of brokerages has imposed trading restrictions on BW.


BEST WORLD: Investor gives his take on BT article
Published: 06 March 2019

Jason Wee, CFA, who has been a Best World International shareholder for several years, was Head of Asian Small Caps Research at CLSA, until he retired. He contributed this article to NextInsight.

More details on : https://nextinsight.net/story-archive-ma...bt-article

“[i]Writing a gutsy piece challenging a listed company is even more challenging. In my 13 years as an analyst, which culminated with a top ranking for my pan-Asian small caps coverage, I too have come across dozens of companies with questionable business models. Yet, I have only publicly challenged one. The reason is simple - getting it wrong can result in a lingering negative stain on an otherwise healthy and promising business.”

-- Jason Wee, CFA[/i]

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Mr Wee dismissed the BT article with few supported reasons, and much rhetoric. I wonder how many (unfortunate) BWL investors bought his story.

I also wonder if the former 'Head of Asian Small Caps Research,' truly believed that a management's response should be treated as the true and final word. Or maybe he owns some shares in BWL.

If he truly believed in the integrity of the business, this tells you how much corporate titles, CFA accreditation, and 'many years of experience' are worth when it comes to making/providing quality investment advice: diddly.

If he held shares in BWL, and/or was writing against Marissa Lee only to defend his interest in BWL, this shows you how 'titles, accreditation, and experience' can mean even less.

In any case, an investor should always keep their wits about themselves. Especially when confronted with individuals pronouncing their 'titles, accreditation, and experience.'

I will observe this at the sidelines with an open mind.

Some years back, Glaucus Research (predecessor to Bonitas Research) initiated a short report on China Minzhong (CMZ). It was a company i owned then (I even increased my stake after the clouds were cleared) - End of the day, probably both Glaucus Research made money (since CMZ dropped 50% on the day the report was released) and I also made money (when Mgt did a MBO). Fraud was never proven - but 1 thing for sure was that it prompted Mgt to do shareholder friendly things like increased dividend payout/scale back on CAPEX etc. But at the same time, it also kept investors away despite all these shareholder friendly moves.

My guess is that it is probably too early to take sides - Mr Wee could be right. Bonitas could be right. What is really interesting is to see how this evolves in real time and see the behaviors/reactions of all the various actors, and then hopefully learn a few new interesting things about human behavior.

So keeping this open mind allows an independent unrestricted broad view of this whole saga, and hopefully allows me to keep similar independent thoughts when i have to encounter my next.