Hi everyone,
We’ve got a very special episode of Talking Markets for you today, with The Blind Squirrel of Blind Squirrel Macro and Erik of YWR: Your Weekend Reading very kindly taking over hosting duties - from the same building in Hong Kong…!
This is such an enlightening conversation from two of the best - we’re very lucky to have them (Thank you, gents!)
They get into:
The Government’s New Mandate: Learn why Beijing is actively promoting a bull market in Chinese equities as the central initiative, moving capital away from property and offering investors a perceived “embedded put protection”.
Shenzhen’s Tech Mojo: The world-leading innovation witnessed in Shenzhen, from BYD’s futuristic EVs (featuring self-floating capability and tank turns) to the diverse AI models and technologies being developed at Tencent.
The “Australia Dave” Play: Perhaps we should all be a bit more like Australian Dave
The EV Conundrum: Why Chinese EV giants like BYD may currently be “awesome companies but not great stocks” due to significant industry overcapacity and slow policy movement.
The 2015 Mental Model: What do Chinese risk assets in 2025 have in common with US large-cap tech equities back in 2015?
Property Priced for Disaster: Insights into why Hong Kong real estate stocks are down 60% even though underlying residential property values are down less, suggesting they are priced for perpetual recession despite signs of stabilization.
Bypassing the Trade War: Hear the surprisingly pragmatic, working-level perspective in China regarding the geopolitical trade war, viewing it as “Kabuki theatre” that will not deter their ambitious technological goals.
And a hell of a lot more.
Enjoy. And here are those links again, to two of our favorite Substack reads:
Maggie
Important Disclaimer: It is crucial to remember that this article is for informational purposes only and should not be considered investment advice. Consult with a qualified financial advisor to assess your risk tolerance, investment goals, and overall financial plan.
