✨ Value Investing Substack NEWS - Howard Marks Memo: An Excellent Value Investing Primer
Fed Hikes 75bps, The Crazy Market Rally Explained, Can't See No Recession Yet, Why Not Just Hike 200bps? Myanmar Executes Opposition Leaders, AirAsia 2Q Passengers Jump 1000%, Russia Pulls Out of ISS
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FRONT PAGE
Click the image above to read Howard Marks’ latest memo - or download the PDF below:
SUBSTACKS + LONG-READS + TWEETS
LINKS
STOCK MARKETS:
Asean:
AirAsia Malaysia's 2Q number of passengers carried jumps to 3.85m from 279,653 a year earlier — Capital A (Aviation - Malaysia)
Philippines Tycoon, Duterte’s Ally’s Stocks Tumble on Default Notice From Banks (Philippines)
Ten potential unicorns in Malaysia, according to report by HSBC, KPMG (Tech - Malaysia)
Tycoon Shamsuddin Abdul Kadir transfers all Sapura Industrial shares to his wife (Industrial - Malaysia)
USA:
Intel to produce Taiwanese company MediaTek's chips (Tech - America)
Tesla gets its own lane at the Mexican border after Elon Musk strikes a deal with local officials, report says (Automobile - America)
Zuck Turns Up The Heat (Tech - America)
Alphabet 2Q'22 Earnings Update (Tech - America)
JetBlue Buys Spirit For $3.8 Billion, Creating Nation's Fifth-Largest Airline (Aviation - America)
China:
Why Taiwan’s Foxconn Is Investing $800 Million In China’s Chip Champion (Tech - Taiwan)
Alibaba seeks Hong Kong primary listing for Stock Connect access, ‘wider and more diversified investor base’ (Tech - Hong Kong)
Asia's richest woman loses half her wealth in China property crisis (Property Market - China)
Goldman Sachs cuts earnings outlook for MSCI China to zero growth (Property Market - China)
Eurozone:
Amazon is raising Prime prices in Europe by up to 43 percent a year (Tech - America)
VW's billionaire clan plotted CEO ouster while he was on US trip (Automobile - Germany)
Energy:
High Crude Prices Are Here To Stay (Energy)
China Going Quiet on LNG Hides Risk That May Upend Global Market (China)
Global gasoline cracks collapse, blow to refiners' profits (Energy)
MACRO
Asean:
Rebuilding Penang for a Prosperous Future (Malaysia)
PM tables anti-(party) hopping bill (Malaysia)
Myanmar executes ex-lawmaker, 3 other political prisoners (Myanmar)
Save Myanmar from absolute hell (Myanmar)
Military service shall be mandatory for all citizens of the Philippines? [Philippines - Reddit]
America:
Trump Being Investigated by Justice Dept. in Criminal Probe Into Jan. 6
House Approves Marijuana And Psychedelics Amendments As Part Of Must-Pass Defense Bill
Paul Ryan was 'sobbing' as he watched the US Capitol attack unfold, new book says
Mike Pence squares up to Donald Trump as former running mates eye 2024 bids | FT
Asia:
China’s giant space telescope will have a 300 times wider view than Hubble
China’s Trade Dominance Is Boosting Renminbi’s Reserve Status
China’s new mega tunnel will send water from the Three Gorges Dam to Beijing
China’s Gen Z Is Dejected, Underemployed and Slowing the Economy
Eurozone:
Russia to further slash gas deliveries to Germany via Nord Stream pipeline | Bloomberg
Cold showers as German city of Hanover reacts to Russian gas crisis
Russia Cuts Gas Supply To German Energy Giant Uniper Even Further
Idea of Boris Johnson as Nato secretary general dismissed after Telegraph report
Rest of the World:
The world isn’t ready for the looming emerging-market debt crisis (Sri Lanka)
The Bank of Canada should be reinstated to its original mandated purposes
NEWS & OTHERS:
2022 Analysis + Future Outlook - What are the best resources? [Reddit]
Why Is Brunei so close with Singapore, even more so than Malaysia? (ASEAN - Reddit)
Every woman's body is beach ready, says Spanish government campaign