Asean-focused. Ex-Head of Thai Research

Athaporn Arayasantiparb, CFA

Thematic (Sector/Industry)

Over the past 20 years, Thailand faced two financial crisis, namely Tom Yum Goong in 1997 and Lehman in 2008. Discounting the political nonsense that is just part of life down here, we think there are five important lessons to take away, regarding: 1) the importance of investors; 2) liabilities-cash flow matching; 3) sticking to core competencies as well as avoiding : 4) currency pegs to dollars (or any currency); and 5) capital controls. No event in Thai business history has transformed the landscape more than the 1997 crisis. In this review, we highlight a few anecdotes of those who survived and those who didn't (at least not in their original forms).

Over the past 20 years, Thailand faced two financial crisis, namely Tom Yum Goong in 1997 and Lehman in 2008. Discounting the political nonsense that is just part of life down here, we think there are five important lessons to take away, regarding: 1) the importance of investors; 2) liabilities-cash flow matching; 3) sticking to core competencies as well as avoiding : 4) currency pegs to dollars (or any currency); and 5) capital controls. No event in Thai business history has transformed the landscape more than the 1997 crisis. In this review, we highlight a few anecdotes of those who survived and those who didn't (at least not in their original forms).

Five Biggest Lessons from Thai Financial Crisis

CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

We pick stocks. We construct portfolios. All our effort is focused on how to better pick stocks and construct portfolios. We serve fund management companies, family offices, and high net worth individuals.

His Majesty King Bhumibol Adulyadej (Rama IX) passed away at Siriraj Hospital in Bangkok yesterday, 13 October 2016, at 3.52pm. Our condolences to all our Thai friends in your time of grief.Thailand is sailing into unchartered waters, considering that nearly everyone alive has only known one King and that his fiat power was immense, built up over years of devotion to the country.We expect that the Thai stock market will be hurt in the near term, but will eventually stabilize.

His Majesty King Bhumibol Adulyadej (Rama IX) passed away at Siriraj Hospital in Bangkok yesterday, 13 October 2016, at 3.52pm. Our condolences to all our Thai friends in your time of grief.Thailand is sailing into unchartered waters, considering that nearly everyone alive has only known one King and that his fiat power was immense, built up over years of devotion to the country.We expect that the Thai stock market will be hurt in the near term, but will eventually stabilize.

Thailand Mourns Fallen King, Healing Will Take Some Time

Equity Bottom-Up

Operators are the prime beneficiaries of the Pokemon Go craze that hit Thailand, though we suspect DTAC may benefit more than True Corp given its much lower market cap and depressed expectations following its recent 90% earnings decline. Pokemon Go is not a game changer but a short term catalyst given the small actual magnitude of the game even in the best case.Amongst the mobile phone retailers, we believe Jaymart is the biggest beneficiary of Pokemon Go from higher battery sales. Com 7, operator of the largest iStudio chain in Thailand, is more geared towards iPhones, and globally iPhone is rapidly losing market share to Android. On the other hand, Telewiz and Samart i-Mobile have increasingly moved towards selling lower-end Chinese-made phones, especially proprietary brands. But we suspect that it is the higher end smartphones such as Samsung Galaxy S7 Edge that will capture the bulk of players, since this game requires high quality GPS satellite reception for a really smooth game.

Operators are the prime beneficiaries of the Pokemon Go craze that hit Thailand, though we suspect DTAC may benefit more than True Corp given its much lower market cap and depressed expectations following its recent 90% earnings decline. Pokemon Go is not a game changer but a short term catalyst given the small actual magnitude of the game even in the best case.Amongst the mobile phone retailers, we believe Jaymart is the biggest beneficiary of Pokemon Go from higher battery sales. Com 7, operator of the largest iStudio chain in Thailand, is more geared towards iPhones, and globally iPhone is rapidly losing market share to Android. On the other hand, Telewiz and Samart i-Mobile have increasingly moved towards selling lower-end Chinese-made phones, especially proprietary brands. But we suspect that it is the higher end smartphones such as Samsung Galaxy S7 Edge that will capture the bulk of players, since this game requires high quality GPS satellite reception for a really smooth game.

Thailand

JMT Network Services PCL is involved in the debt collection business in Thailand.

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Five Biggest Lessons from Thai Financial Crisis

Over the past 20 years, Thailand faced two financial crisis, namely Tom Yum Goong in 1997 and Lehman in 2008. Discounting the political nonsense...

Athaporn Arayasantiparb, CFA

Thailand Mourns Fallen King, Healing Will Take Some Time

His Majesty King Bhumibol Adulyadej (Rama IX) passed away at Siriraj Hospital in Bangkok yesterday, 13 October 2016, at 3.52pm. Our condolences to...

A. Stotz Investment Research

DTAC & Jaymart: Rise of the Pikachu

Operators are the prime beneficiaries of the Pokemon Go craze that hit Thailand, though we suspect DTAC may benefit more than True Corp given its...

Athaporn Arayasantiparb, CFA

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