- This article is about Alibaba, but also about two investors virtually joined at the hip who came to foreign investing from different perspectives - surprisingly reversing their usual approaches.
- Alibaba looks like a great dirt cheap growth company - everybody knows that - but it has made a round trip in price since its IPO with no dividends.
- Charlie Munger had superb knowledge of Chinese investing but may have failed to update the basic narrative of China. Deng Xiaoping is gone, and Xi Jinping is more worrisome.
- Japanese stocks benefit from rule of law and property rights while Shinzo Abe put in place reforms leading to growth not yet generally recognized.
- Dictatorial leaders often fail because insulated from those who could provide help; Xi Jinping may be headed that way, I mention a couple of others.
For further details see:
Warren Buffett Vs Charlie Munger, Japan Vs China, Predictability Vs High Risk Growth