03-02-2024, 07:24 PM
(02-02-2024, 01:06 PM)weijian Wrote: To be honest, as a parent, some of Xi's policies to abolish for-profit education institutions and reduce game addiction, are actually welcomed by me. But of course, as an investor, not much.
I have the same view and I think we have to see things in a bigger context - China is like a big country made up of many different countries. It is simply not easy to manage.
The following is extracted from the Corporate Governance section in one of the ARs of a SGX listed company - "Directors are fiduciaries who act objectively in the best interests of the Company".
Going by this, logically, wouldn't governments run countries in the best interests of the countries just like the head of the company ?
Now, whether best interest of the company is equivalent to best interest of minority shareholders are open to discussion. Imho, if one wants to benefit from WB's type of investing rewards, one shd look at the US market which probably has the most capitalist type of investing environment or perhaps buy and own a great company at a fair price outright(controlling stake).
Sometimes, I wonder whether is it more accurate to say making "smart bets" than "value investing" when investing as OPMI ? Afterall, for those who buy and own a residential property in your own name, wld u buy a similar property(even if severely undervalued) with multiple co-owners and owning just a tiny stake ? Is the latter considered in the same breath as investing in undervalued property ?