Assessing Driver of Moats in Retail Shopping Centres
We view high quality shopping centres as benefiting from strong competitive advantages, and generally ascribe narrow economic moat ratings to...
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"Special Mention Loans" across Asia
Banks in Asia tend have five loan categories, where the last three combined are termed non-performing (NPL). These categories are substandard,...
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China Banks' Thin Line
Beijing canceled the loan:deposit ratio (LDR) cap of 75%. It’s worried. This can be considered to be a similar move as lowering the reserve...
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CORPORATE LEVERAGE: An Inconvenient Truth
Sometimes stock markets don’t bounce back. They just hit the bottom and then crawl sideways for years. Take Greece, its stock market is still 87%...
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What's Next For China?
Raids on brokers and traders. Less economic data flow, or spurious upward revisions. Wealth management product holders not getting paid. Defaults...
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