Theodore Shou

Here's the core "rather than simply competing head-to-head with private credit, banks have made the calculation that they must embrace the new world and form their own copycats" Banks wonder whether to beat private credit upstarts — or join them ft.com/content/358f2e… 来自 @ft

should this not give a clear enough direction for Hong Kong properties? What's the point of speculating on rebound timing ... with or without rate cuts

就凭这个审核水平，腾讯也就这样。下次谁问我Is China still investable? 需要回答吗

@zhanglifan 本来就是假新闻 而且门户网站上现在大量自媒体内容 出现在门户网站不代表有任何可信度 和搜索页截图上面那条雪球是一样道理

已经404了…… 网易【华尔街日报再次对大A下调评级，将A股定为“欺骗性市场”】

The BofA chart is very in line with what I said on Bloomberg's China Open this Monday. However, onshoring/reshoring/friendshoring isn't necessarily cutting China out. Chinese companies are moving to Mexico in great number. (and other US-friendly mkts)

@HAOHONG_CFA 企业所得税可能有延后效应，同时企业所得税那个口径并不是完全“工业企业”，所以有差别还可以理解。假如看“车辆购置税”前两月的跌幅，倒是和汽车制造业的利润跌幅同向。也的确是时点上更同时发生的（尽管也会有延后，因为车厂有些卖到4S已经确认收入）。

China industrial enterprises profit plunged 23% in Jan/Feb. A surprise cos IP was rising and PMI highest in a decade. Of which: - Foreign firms -36% and accelerating from FY2022; - Private firms -20%; - SOE -18%. Jan/Feb is notorious for its erratic seasonality due to the Chinese New Year. If we compared today’s release with tax receipt for Jan/Feb, it doesn’t add up - Corp income tax +11.4% and export tax rebate +9.7% are the only items that are rising. These discrepancies could be the result of definition of “industrial enterprises above scale 规模以上”. It means firms with revenue >RMB 20m. But income tax receipt is for all companies. Meanwhile, property sales surprised on the upside for Jan/Feb. And note that deed tax decline narrowed. It remains to be seen whether the recovery is for real .. or not.

@mbrookerhk a few replies have pointed out the FX error (apparently neither the writer nor WSJ editor picked that up though the large number is used to prove a point in this essay). It's loosely structured with anecdotes that are not even proper arguments.

@Fengan_ 年轻的生命实为可惜。与政治立场没有关系，与做过什么也没有关系，单纯早逝便足以让人痛心。

此时英雄无泪处，青史追忆爱国人 🌳 伤害付国豪的暴徒之一在庭上大喊：“是美国间谍Mark Simon指使我去做的!我冤枉了付国豪，我向14亿中国人道歉!”。 永远不能忘记在中国的土地上，那些不把自己当中国人的家伙是可耻的。 ❤ 永远不要忘记中国的发展留下多少像付国豪这样的英雄！

WSJ got nearly the full list correct (that one blank was likely left on purpose). 5yrs later, all of them will be too old (with Ding being the youngest at 65 then).

The full sentence probably is "I plead not guilty, but I admit misleading". She stressed the 1st half, and DoJ the 2nd half. Neither is wrong. Lawyers are walking dictionaries.

@TMclaughlin3 The Public Order Ordinance was set up in the colonial days by the Brits. Raab pointed finger to the wrong target (Beijing). He was basically saying UK did a shxtty job drafting that law. Lai is not accused of anything under the national security law (at least not yet)

British lawyer David Perry, who was tapped by the Hong Kong DOJ in case against Jimmy Lai and other pro-democracy activists, drops out. Dominic Raab said Perry was acting in a "a pretty mercenary way” by being part of the case.

"Grandpa can you tell me about the time when the Nasdaq had a down day?" "Well dear, that was a long long time ago when people still believed valuations were a thing..." "What are valuations?" "Exactly."

I, too, am quite concerned about CNY though China does fare better in COVID-19. When everyone prints and prints, beggar thy neighbor

Fed moved "swiftly". Are we there yet? Yes. It's that bad huh? Yes. Should Fed do it now? No. Seasoned investors already figured out how severe shocks are, but not the average Joe. Now literally everyone in the world knows even Fed is panicking. It's pushing us off the cliff.

"To achieve genuine diversification, investors cannot ignore the fast-rising #alternativeinvestment sector." @Forbes shares their picks for 2020: bit.ly/2WjKYtX

疫情下的韩国街头为何还有集会？ youtu.be/tvwhlstv4So 来自 @YouTube

China has just confirmed 7 COVID-19 cases coming from Italy. All 7 had no previous interaction with Chinese from Wuhan.

Corporate Governance: Presenting Financials - Case Study of Disclosing D... youtu.be/E7YMhNyz6NY 来自 @YouTube

Well, A-shares have seen some rebound today so far but huge dispersion across sectors and names