Are you all there? Econmic Dynamism -not decline.
Submitted by PaulRen on Sat, 26/01/2013 - 3:56am
Category:
Industry
Dear Mr. Breiding,
CEO of Naissance Capital.
Zurich. Switzerland.
I compliment you on your article in today's "Wall Street Journal", called the "Unbearable Vanity of Davos." Bravo. You hit the nail on the head. This "World Economic Forum", (WEF) should be renamed the one sided biased conference, on what is no longer working.
This Western biased continued one sided reporting on how "if things are bad in USA, they are still better then in many other places". With then quickly giving such rogue examples like Venezuela. Hello, in anybody there? There has been a silent bull market and economic success here in Thailand for example, which just rarely if ever gets reported. I guess its not in the institutional and so nor the large press's interest to say so. Thailand's stock market cap is now larger then Singapore which however gets 3-4 times the press coverage -even while it too is suffering, due to adhering mostly to the Western failing model.
For over 20 years, on location here, I have been covering smaller and mid cap Thai stocks which are the real investor jewels in Asia! In the past year or two fore then a few have latterly rocketed up some 100-200% and more, and yet still trade at reasonable valuations, yes... due to soaring earnings, lower corporate tax rates and...jawohl, even if the West does not get it beyond lip service: economic dynamism the old fashion style, not decline.
Western Institutions must mostly ignore the value investor concept so successful here for years, only because they manage $ billions and hence are bound to the chains on liquidity obsession, even if this means staying put in huge liquid but lethargic markets.
We the real people, the ones which do not attend such Davos events -and other such self aggrandizement have found a veritable well of investor success in viable companies with little debt or no debt, high dividends, lower then western market valuations, and yes can you believe: high growth. But you would never read or hear about it the vanity circles you rightly describe in your article.
It so was a rare and welcome read this morning that at least one pro's like you, see what all the Grandor over there, does not because it does not want to. I for one pre-ordered your book on a different subject solely because you represent an ounce of sanity in a global media mostly gone blind.
Best Regards,
Paul Renaud.
