Practical analysis for investment professionals
25 July 2014

Weekend Reads for Global Investors: Apple, Asia, and Ackman

Posted In: Weekend Reads

It has been an eventful couple of weeks. S&P 500 is marching on to the tune of 2,000. Or should we make that iTunes? Apple reported second quarter results this week, and the iPhone was all the rage, especially in BRIC countries. Amazon launched its Amazon Fire phone to not much fanfare. But Xiaomi, a Chinese brand largely unknown outside of the country, got a lot of attention for the debut of its chic and yet affordable Mi4 handset Tuesday.

BRIC countries made headlines last week for launching the BRICs development bank, aptly named the New Development Bank. Should that old development bank take note? Although details are scant, many experts have weighed in with varying opinions from this marks the doom of the US dollar to more cynical views that this is not really going to shake up the world’s financial order any time soon.

In Asia, Indonesia’s election had an official winner Tuesday. All eyes are now on Joko Widodo, the former governor of Jakarta, to see how he will put the largest economy in ASEAN on the fast track. Expectations are probably running high, not unlike what happened in India recently. The Indian stock markets started its run-up before Prime Minister Modi won the election. The election fever has been cooling somewhat since the first budget of the new government was announced in July.

Now let’s take a closer look at these events.

Apple, Amazon Fire, and Xiaomi

BRICS and the New Development Bank



Ackman and Herbalife

Cartoon of the Week

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About the Author(s)
Larry Cao, CFA

Larry Cao, CFA, senior director of industry research, CFA Institute, conducts original research with a focus on the investment industry trends and investment expertise. His current research interests include multi-asset strategies and FinTech (including AI, big data, and blockchain). He has led the development of such popular publications as FinTech 2017: China, Asia and Beyond, FinTech 2018: The Asia Pacific Edition, Multi-Asset Strategies: The Future of Investment Management and AI Pioneers in Investment management. He is also a frequent speaker at industry conferences on these topics. During his time in Boston pursuing graduate studies at Harvard and as a visiting scholar at MIT, he also co-authored a research paper with Nobel laureate Franco Modigliani that was published in the Journal of Economic Literature by American Economic Association. Larry has more than 20 years of experience in the investment industry. Prior to joining CFA Institute, Larry worked at HSBC as senior manager for the Asia Pacific region. He started his career at the People’s Bank of China as a USD fixed-income portfolio manager. He also worked for US asset managers Munder Capital Management, managing US and international equity portfolios, and Morningstar/Ibbotson Associates, managing multi-asset investment programs for a global financial institution clientele. Larry has been interviewed by a wide range of business media, such as Bloomberg, CNN, the Financial Times, South China Morning Post and the Wall Street Journal.

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