Investment
Editor's Notes: * This is the Part II for the life science tools & services sector survey, mainly to assess "second-order implications" based on fundamental outlook vs. what's likely been priced in based on narratives. This piece provides a different perspective to double check on
Investment
Editor's Notes: * We have run two AI-generated sector analyses this weekend on Life Science Tools & Services, as a follow up to our profile on Revvity earlier this week. * This industry has historically been a traditional cyclical industry. However, a few tailwinds may make this sector interesting -
Investment
Editor's Notes: * New structural themes for 2026 are largely confirmed by the past few days' trading - governance / economic reform continues driving JP bull, HK markets ready for rerating but waiting for more substantial recovery catalysts, SaaS names are hated while Trump policy / AI supply beneficiaries dominate
Investment
Editor's Notes: * We have seen consecutive days of stock price declines for SaaS names. This is part of a rotation. The deeper reason is likely a consensus forming around the generational profile shift from SaaS to AI apps. My thesis is that if SaaS players adopts AI aggressively,
Investment
Editor's Notes: * Rotating Eastward: US stocks are expensive and subject to increasing policy uncertainties; naturally, investors are looking elsewhere. Asia markets already had a very strong 2025, and I expect the China consumption recovery play (e.g. Anta, Nongfu), China AI play, Asia healthcare innovation cycle, Japan revitalization,
Investment
Editor's Notes: * As mentioned in the last daily brief newsletter, Revvity saw a 6%+ stock price jump yesterday, due to strong guidance and upward revision for 2025. * There are a few things to like about the current setup - (1) bad news are mostly priced in (China headwind)
Investment
* Every market seems to be now dominated by policies and politics. I learnt from my 20 year career that policies are extremely difficult to predict, esp. in China and now US under Trump. For short-term investments, these policy-driven waves may be great profit making opportunities. For long-term holdings, I would
Investment
Editor's Notes: * As investors start to reassess US risks and AI-related debates continuing, I expect to see more volatility for US stocks this year. * China stocks are back on my watchlist, as there is an increasing chance of consumption stabilization and a clear sign of sentiment recovery -
Investment
Editor's Notes: * Below is a synthesis from 86 episodes of podcasts over the last 7 days. * New geopolitical order (or Trump) and AI dominate discussions. * Risk is rising - for regional conflicts, central bank politically-driven errors, tariff uncertainties, speed / magnitude of AI impact on job markets and populist
Investment
Editor's Notes: * Early January is quieter in terms of earnings. This past week, we saw a few Japanese and US consumers companies confirming interesting consumer trends - value ranked above convenience (decline of convenience stores) in Japan, legacy super stores revitalized after reforms, China weakness, and US K-shape
Investment
Editor’s Notes * A quick follow-up to our earlier work on Komatsu. A few days ago we laid out a profile on Komatsu itself. Today’s exercise is stepping one layer out and listening to what its competitors and suppliers are telling us. In my experience, this kind of value-chain
Investment
Editor's Notes: * We’re watching AI grow up in real time, and the market is finally paying for the “picks and shovels.” The conversation is shifting from chips to the grid, and Meta’s 20-year nuclear deals are the cleanest signal yet that power is the next choke