Author Archives: FIC

The tough road ahead for China

By | November 5, 2018

The peculiar state of Chinese economy Spent a week in China. Spoke to many friends who work in different parts of the Chinese economy: some executives in private companies who are listed in “OTC market” (新三板)、some investment professionals in wealth management companies、some medical staff, some manager of a movie theater chain and various everyday folks… Read More »

Objective Decision Making – more

By | October 1, 2018

Imagine that you face the following pair of concurrent decisions. First examine both decisions, then make your choices.
Decision (i): Choose between
A) Sure gain of $240
B) 25% chance to gain $1,000 and 75% chance to gain nothing
Decision (ii): Choose between
C) sure loss of $750
D) 75% chance to lose $1,000 and 25% chance to lose nothing
What’s your decision?

FIC Core Portfolio Performance – As of Q3 2018

By | September 30, 2018

Quarterly Commentary: S&P and Dow Jones Industrial had a strong quarter in Q3 2018, despite noises from trade frictions to Supreme Court Justice confirmations, from NAFTA negotiations to Turkey currency movements, from Robert Muller investigation to Fed rates hiking We still believe that the equities in major indices are richly priced, however that’s not to… Read More »

(Reuters) Walmart warns Trump’s tariffs may force it to hike prices

By | September 24, 2018

And that’s OK. This is exactly what the tariff should result to (at least part of the intention). The tariff episode is really a mean to an end to get to the final objective when countries will lower or eliminate the tariff all together. However, given the disparity of development in different nations, the “grand”… Read More »

Reminiscing the financial crisis is dangerous

By | September 17, 2018

In the past week, almost all major news outlets are publishing their “10 year” series: 10 years since the collapse of Lehman Brothers, 10 years since the past financial crisis etc. It was probably nice to write those events into history textbooks and read about them once in a while. However, I have to remind… Read More »