✨ 20 May 2022 | Value Investing Substack NEWS
Meritech Capital 2022 SaaS Crash, Cambodian National Recalls Khmer Rouge Regime, Tiger Global's Impressive Investment Process, Laos & Sri Lanka Run Out of Fuel, Can Turkey's NATO Veto Be Bypassed?
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HIGHLIGHTS
SUBSTACKS + LONG-READS + TWITTER
Reddit:
Can Turkey's Veto be Bypassed - and what are Erdogan’s motivations?
How do delivery apps like Doordash manage to lose money when they charge so much?
Twitter:
Substack:
> Analyst consensus for the 2022 US real GDP growth has been consistently revised down this year and now sits at 2.7% - but still nicely above trend, though.
And while even big consumer staples companies (e.g. Walmart, Target) have missed their earnings per share target and have warned investors they could actually deliver negative (!) YoY EPS in 2022, analyst consensus for 2022 EPS growth for the companies listed in the S&P500 index still sits at +10%.
Yes, plus 10%.
So, while forward-looking markets are pricing in a slowdown in demand it seems analysts are still relatively relaxed about the end point - shall we be, too?
> At a 5.3% ERP, we are just sitting in the middle of a 15-year band.
Not cheap.
The main message hasn’t changed a tiny bit.
Stay.
Defensive.
LINKS
Stock Markets:
Serba Dinamik, subsidiaries to sell assets to settle liabilities (Malaysia)
Mercury Securities eyes ACE Market listing (Malaysia)
AirAsia CEO touches down in Jakarta, is warmly welcomed by Indonesian employees (Indonesia)
Melvin Capital to shut after heavy losses on meme stocks, market slump (USA)
Macro
News & Other:
South Koreans get to see inside presidential Blue House for first time in 74 years
Winners of £184,000,000 EuroMillions go public and say they won on lucky dip