Disruption Diaries: Small-Cap Ideas in the Brick-And-Click Space
Disruption as a theme has fired investor imagination in recent times. The disruption space is mainly a private party though, even as the publicly...
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Qudian’s Risks in Transition from Online Consumer Loan Lender to Originator
Understanding that Qudian Inc (QD US) is going through a forced business model transition out of the online micro loan lending business to an...
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With ‘Brand Building’ Ad Era Over, Can Food Inflation Rescue FMCG Margins?
I’ve been underweight consumer staples on valuation and business model disruption risks since 2015 and the sector has de-rated significantly...
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China Online Video - Live Broadcasting Is a Powerful Monetization Tool for YY Inc and MoMo
New Street Research has been positive on online video in emerging markets (see EM Telcos: Video Growth Drives an EM Wireless Growth Inflection). In...
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Sea Ltd: "Emerging Growth" Company Part II
During conference call, management of Sea Ltd (SE US) unveiled 2018 guidance after delivering a slight beat on 4Q17 results. Despite surging GMV,...
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