Graham Benjamin @Oracle_of_Asia

Joined January 2023

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Graham Benjamin @Oracle_of_Asia

2 years ago

Didn't see this coming🤣... Bored Ape owners sent broke after NFT price collapse afr.com/technology/bor…

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Graham Benjamin @Oracle_of_Asia

2 years ago

John Maynard Keynes, 1936:

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Graham Benjamin @Oracle_of_Asia

3 years ago

Services inflation is still hot...

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Graham Benjamin @Oracle_of_Asia

3 years ago

Never give in, never give in, never, never, never, never-in nothing, great or small, large or petty — never give in except to convictions of honour and good sense. washingtonpost.com/opinions/2023/…

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Graham Benjamin @Oracle_of_Asia

3 years ago

US interest rates are now at a level that the US economy has not been able to bear since late 2007, corporate earnings are coming in below estimates and yet... there is not a sniff of fear, and equities are ripping higher. Be fearful when others are greedy.

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Graham Benjamin @Oracle_of_Asia

3 years ago

A great summary of why it is very difficult to reconcile the current US equity risk premium with the way the market is ripping higher. wsj.com/articles/the-b… via @WSJ

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Graham Benjamin @Oracle_of_Asia

3 years ago

Even if you were to forecast no further interest rate rises from the US Federal Reserve, the probability of which rounds to zero, I cannot understand why anybody would believe that the US equity markets are not overpriced at this point.

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Graham Benjamin @Oracle_of_Asia

3 years ago

5-year expected growth rates and forward PE give a PEG ratio close to 1 for both Tencent Holdings and Alibaba, and likely ROE returns above 20%. On fundamentals Alibaba and Tencent are unarguably cheap. Pricing political risk is hard but these stocks are not “uninvestable”.

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Graham Benjamin @Oracle_of_Asia

3 years ago

China is perfectly capable of accurately tracking Covid mortality, or any, data. It is a surveillance state. However, with all data reported out of China, we must always know what "truth factor" to multiply or divide the reported number by. bloomberg.com/news/articles/… via @bpolitics

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Graham Benjamin @Oracle_of_Asia

3 years ago

Whether the next interest rate move from the US Fed is 25bps or 50bps only distracts from that whooshing noise of pandemic liquidity being sucked out by QT. This isn’t stopping and it’s hard to feel US equity prices have bottomed.

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Financial Times @FinancialTimes

3 years ago

Jack Ma cedes control of Ant Group on.ft.com/3vHLaDI

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Graham Benjamin @Oracle_of_Asia

3 years ago

This really is a significant signal of the shift by Beijing away from wolf warrior diplomacy... China Energy places order to import Australian coal reuters.com/business/energ…

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Graham Benjamin @Oracle_of_Asia

3 years ago

Even after the drawdowns in US stocks since November, the US Market Capitalization / GDP ratio remains at the prior peak levels of the dot com bubble. US stocks are not yet cheap.

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Graham Benjamin @Oracle_of_Asia

3 years ago

Once the winter Covid waves die down, China’s recovery will be back on track. I feel geopolitical risk could have peaked and be in decline and I am beginning to look at the value in this market.