A friend sent an article across about how Bangkok is an expensive place to live. I forwarded it on the smartest person I know in the country, and he responded, (w/ my paraphrasing) “Bangkok is rich, but Thailand is poor, and this is why people retire in the provinces”

When I look at the Thai market it does feel the same the entire damn thing still looks expensive, 16x PE for the SET, 215x PE for the MAI (jebus!), that one really has to dig deep down to find any real value or bargains for that matter. (we’ve found one in the chat group thanks to one reader in 2023, WPH was amazing). I still like to think that regardless of how crap a government, market, economy is you can always find a great opportunity.

  1. We longer term experts here now duly notice how the SET is just lethargic, with no energy and having lost it’s luster. The mediocrity just finally catching up to years of mismanagement, not least by the brokers which at every turn cherishing trading vs. investing. Now Thai retail investors here at absolutely record low participation.
    Bad money having chased out good. All as I wrote at my web site starting a year ago…
    Mind us, even hiding out in good stocks can be disappointing. As the say in Wall Street “a bargain which remains a bargain is no bargain”.

      • Thanks Pon, I just hear there will be some major mgt. changes at the SET, very shortly. As the old guard’s terms are coming to and end -and more proactive and less conservative new leadership will take over. This surely is a positive first step! In the meantime there are now ways for Thai & foreign investors right on the SET to buy various ETF’s of foreign countries like CHINA, which I now think is an accumulate buy! Especially their technology sector. This is an attractive new way for local/expat investors to get select direct outside Thailand exposure without needing to go abroad -and then worry about local taxes on bringing funds back to Thailand. 🙂

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