Ohhh boy look at the markets. Naturally over the past 12 months returns look amazing because guess what it’s been a year since the Wuflu starting hitting the Western markets (it hit Asian markets initially in Feb ’20) and then took the global markets all the way down. 12 months! It’s been a year of “2 more weeks”

As a result of these Policy Errors you’re seeing the logistics players go through the roof, the commodities (oil, sugar, coal, food etc etc etc) going higher than 99% of market commentators thought were possible, shipping somehow just woke up, etc etc. And now we’re going to see a global recovery in demand (+all that fiscal spending kicking in over the next 12-25 months) towards 2H21, and what’s going to happen to this prices when supply can’t catch up. You better go and enjoy the sites of this country before the tourists return, because I guarantee you the hotel rates are going to shoot up over the next 2-3 years. I’m not looking forward to the increases in costs of all the consumer goods we rely upon…but sure lets go green with ESG…

Politics is a non-event in Thailand now, government did what we expected, starved them out like the CCP did in HK. And its the protestors own fault, if they didn’t mention the monarchy they would’ve won with 10x more people on the streets.

  1. Thanks for your Fund Report. Very decent of you to publish it. I must sign up to IR. We share(d) an interest in SMPC. I continue to hold. Yield, PEG and valuations all seem attractive. I appreciate you’re not here to provide investment advice. But, any specific reason you’ve fallen out of love with this little star?

    • Made +20-30% and decided to exit. Nothing else. Well valuations, upside limit reached etc etc…saw a strong THB, initial demand boost gone, better opps elsewhere etc etc…

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