Please keep us updated on the Tencent deal of Monish!
@compound72693 жыл бұрын
He’s also talked about when finding a new business to invest in he usually has to sell his least favourite business and most of the time it ends up being his most recent investments.
@James-gs2dz3 жыл бұрын
Great content as always. Wish the vids went longer on more companies. Like a "Thoughts on..." series.
@HowardWimshurst3 жыл бұрын
Joseph I absolutely love your transparency with your portfolio. So many Investors here on KZbin are secretive about their trades and then hit you with the "I told you so" later down the line, only revealing their wins. So thank you
@ImBeneficial3 жыл бұрын
Mohnish describes good companies like he's around a campfire with all the campers telling the first spooky story ever heard. Very intense.
@sunnykhoja79323 жыл бұрын
Man he got me excited on tencent and I don't even own that company.
@masterofIich3 жыл бұрын
Tencent could simply sell their 20% in SEA and have 40b in cash if they need it. Analysts dont seem to care much about companies with great venture capitalsts. Also i think Tencent is much closer to the CCP already than Alibaba thanks to their wechat platform, which both know is pretty important for the daily life of many people private life’s or businesses
@mungermid3 жыл бұрын
15:10 over 20% of their revenue in Q3 came from domestic (Chinese) VAS games
@magicstarfish3 жыл бұрын
Yes but the Chinese regulations are now focused on Kids buying or paying in games. It doesn't make much impact on Tencent's China video game incomes. Kids can just ask their parents to pay instead of paying by themselves.
@al16393 жыл бұрын
I've heard people argue he could be using the loss to offset his gains and simply buy back at a later time.
@mcwager18453 жыл бұрын
Is that legal?
@mdr690013 жыл бұрын
Yes, you need to wait 1 month
@HermannTheGreat3 жыл бұрын
That would have been a genius move considering it's now running $140
@jasonstupak45353 жыл бұрын
Watched and liked, thanks! Come for the hair, stay for the excellent finance. Still holding Alibaba and will continue to.
@dorissteve9123 жыл бұрын
The wisest thing that should be on every wise individual's list is to invest in different stream of income and don't depend on the government to bring in money especially now the pandemic is hitting the economy
@williamjohn13743 жыл бұрын
you are definitely right , waiting on the government is a big waste
@dorissteve9123 жыл бұрын
Investments are the stepping Stones to success especially if you been guided by a professional
@wilsonjudson16503 жыл бұрын
Investing is good but investing in the right thing is the actual key to success . who is your pro ?
@dorissteve9123 жыл бұрын
That was exactly what I did, I trade with a professional stock expert "Tamara Diane Hagan " who i met in one of the seminars..
@dorissteve9123 жыл бұрын
There are so many investment out there but if profits must be considered then not all investments are good to go into.
@KelechIwuaba3 жыл бұрын
Mohnish is such a great story teller I love it
@wildreams3 жыл бұрын
Just because Amazon and Tencent has not much cash on their balance sheet doesn’t mean they are good capital allocators. Just mean that they are more aggressive at taking risks. If anything, I think Apple is a much better capital allocator, able to generate so much earnings with minimal cash reinvestments. Steve Jobs used to say, it doesn’t matter how much you spend on R&D, IBM spent 100x Apple did, but Apple made the Apple II. Peace. 2c.
@tylerminix20282 жыл бұрын
apple is buying back its shares indiscriminately at 30x earnings. while not the end of the world it's definitely not the best capital allocation.
@wildreams2 жыл бұрын
@@tylerminix2028 I could argue that Apple giving out dividends is also not good capital allocation strategy. But spending on a project with minimal payback; would be much worst. Sometimes, it's the best you can do for shareholders. Buying back shares at 30x earning is not too bad, if say they manage to growth their earnings faster than market average over the next 10 years. Are you certain they won't do that?
@tylerminix20282 жыл бұрын
@@wildreams that argument would be wrong. dividend distributions are one of the best ways for individual share holders in a company to directly build individual account value. It's overlooked now because everyone's crazy about appreciation and erroneously believe it's "tax inefficiency" is reason enough to dislike the practice. I have a lot of apple stock. They'll probably continue to grow over the long term. would prefer apple expand the market which they address. It's huge now, but it could be larger. If it ever took commercial market share from Microsoft we'd be off to the races.
@wildreams2 жыл бұрын
@@tylerminix2028 Dividend in and of itself is neither good or bad. But if the company could reinvest capital to grow profits faster than market average. It would be the best way to compound shareholder value.
@SHARAD93 жыл бұрын
Why can't I purchase tencent on M1 Finance? It can't be found there.
@MasterChiefSpartan3 жыл бұрын
TCEHY is an over the counter stock and is not listed on any US stock exchange.therefore you can’t buy it using some stock brokerage.
@anurajthanapadathcharu88863 жыл бұрын
You are right on that. Mohnish Pantai admitted he bought prosus in Amsterdam.
@Chuuckification3 жыл бұрын
You were right! Good analysis of the situation
@markarnoldsfinance27653 жыл бұрын
Great new perspective to put in my mind with companies and their cash balances. Thank you!
@shaunrosenberg45683 жыл бұрын
I wanted to buy a Tencent earlier. But none of my brokers offer it.
@mikediinekis21973 жыл бұрын
Thank you Joseph for your content! The growth/dividend portfolio links are showing past glories of your portfolios, not the current ones! :P
@gertjantimmerman83523 жыл бұрын
Thank you, great content. I hope you noticed that Mohnish does not agree with your investment strategy: dividend investing. It is usually better for the company to reinvest the money, since their IRR is usually higher than returning the money to shareholders (which can even be destoying value) and the investor then having to find new investment opportunities/reinvest the money in that same company. Mohnish is a gem of wisdom, would be wise to listen and reconsider your strategy, if you did not already. I wish you good luck!
@issalatar83423 жыл бұрын
I don't think Joseph is a primary dividend investor...his other main portfolio (not the story fund) yields less than 2.5% and his biggest holding is tech.
@wctwctwctwct3 жыл бұрын
@@issalatar8342 He made the growth portfolio long after the dividend portfolio, though. That has always been his primary method. For people that don't make a lot of money or are near retirement, dividend investing is a slow, painful, and overall less effective way than growth stocks or even VTI/VOO. Dividends are taxable as well.
@gertjantimmerman83523 жыл бұрын
@@issalatar8342 He shows off his dividends a lot for a non-dividend investor. And as Will Tanner points out, he might not be a typical dividend investor, but he surely has been ons for a long time. Good luck getting far over 2.5% dividend on a lot of stocks these days...
@EranM3 жыл бұрын
Joseph, can you open the next video with you doing some bench presses?
@samual82993 жыл бұрын
Can you link his original video? I cannot find his channel or vid on youtube, only commentators.
@Schilvertje3 жыл бұрын
I really agree with Monish. I can see Tencent become the biggest company in the world. Tencent my second biggest holding (9%). Baba is my 10th (3,71%).
@jamiemiller61563 жыл бұрын
The issue between the two companies is not necessarily which is the better company, but what is a better investment. Baba is selling at a huge discount right now while Tencent is much closer to a fair market price. So the question becomes is Tencent that much better of an investment that you are willing to forgo the huge discount in Baba to invest in Tencent? Honestly, I think that Baba is the better investment right now, but I have money in both. As far as Pabrai, if he moved to Tencent it would likely be in the form of Naspers or Prosus, which would give him an investment in Tencent at a significant discount.
@lilbroomstick79143 жыл бұрын
do you hold ticker: TCEHY? Do you hold Tencent ADRs, are the people saying theyre worthless FUD?
@aplebian70973 жыл бұрын
@@jamiemiller6156 Prosus is one of my largest holdings for that reason. BABA is also a fairly large position, though.
@TheAcharyaa3 жыл бұрын
@@jamiemiller6156 completely agree with you. In my mind Tencent is the better company but Alibaba is more undervalued currently. I was torn between Prosus and Tencent but in the end I just trust Tencent management more and the discount has been going for so long I’m not sure it will ever close (and may widen).
@melvin62283 жыл бұрын
I'm sorry that I didn't edit this properly. @13:20 I call bullshit on the junior dev comment, utter and complete bullshit. I let the 1000x comment slide, because when I squint and do a few mental gymnastics, I can see how a 1000x work. It works sort of like this: * Amazing future proof architecture and amazingly good at algorithms (10x) * Fast coder (10x) * Amazing people person and one of the best collaborators (10x) These people exist. I happen to know one of them. Within 1 year he became second in command at a private company that is probably making even more money per employee compared to any FAANG company. When companies are fully privately owned while outperforming FAANG, the chance of not hearing of them can be quite high. But get this: when he started there, he was a JUNIOR! Everyone considered him as a junior. I knew he was better than all senior engineers combined, but I'm just his friend and a nobody in the software engineering world. But I was dead on about his talent, because I know it when I see it. You think he's the exception, but he isn't. I have been in 3 classes with my friend. In these classes he was outperformed by some of his peers. He wasn't even best in class! But the class he was in was elite. I know this because I have studied 10 years (1 year business, 3 years psychology and 6 years of various CS degrees). The classes I took with him have been the most difficult mindbreaking classes of my life. I simply count myself lucky that I was able to pass them. I barely passed them, and note passing them alone put you in the top 20% of the class. My average grade for these 3 classes is a B, but I know that if I'd have slacked even one minute more than I did, that would have been an instant D. It's super tough to get a C for these classes, because you either get it or you don't. The people who broke the scale (including my friend) who got an A+++ (well 10.2 to 10.8 in Dutch grades -- higher than a 10 is breaking the scale), those people are your 10x to 1000x engineers. These people come out of university as juniors, but make no mistake. They will outcompete people with 20+ years of experience (I've seen this) or at least be on par with them (I've seen this too).
@frisoverschoof28483 жыл бұрын
Van you do a video for crowdstrike?
@accqpqp23393 жыл бұрын
if that is the case, why dont he buy tencent instead of alibaba just a few months ago?? tencent fundamentals hasnt change so drastically since then
@Wambuto3 жыл бұрын
New to the channel. Am impressed
@lawrenceg73413 жыл бұрын
Both are great companies indeed! Ali and Tencent both have their eco-system (moat). Both companies invests (small stake) in new areas/ companies where Ali seeks greater infulence and Tencent lets the management does its thing. Long on both companies and thanks Joseph for the great content as usual!
@magicstarfish3 жыл бұрын
Ali has much higher politic pressure and greater competition from JD, PDD, MT etc.
@lawrenceg73413 жыл бұрын
@@magicstarfish I agree, but because they are the most influential one.
@magicstarfish3 жыл бұрын
@@lawrenceg7341 at the moment yes, but the authority is trying to remove its dominance. At the same time, Ali growth and earning are slowing down.
@wunmi93593 жыл бұрын
@@magicstarfish because of increased investment
@magicstarfish3 жыл бұрын
@@wunmi9359 Every tech company has to invest. The problem is how much profit it can make, this is what investors concern.
@alm93683 жыл бұрын
A great dissection of Pabrai's move!
@jackowens19993 жыл бұрын
Is the news with crowdstrike over blown?
@kennetht93853 жыл бұрын
Great video and comments, thanks so much
@chrisr97643 жыл бұрын
I’m confused. If Tencent is a growing business then why is it expected to grow only 5 % the next 5 years?
@ndon853 жыл бұрын
expected by which oracles this time around ?
@chrisr97643 жыл бұрын
@@thors3532 where u found this info?
@chrisr97643 жыл бұрын
@@thors3532 according to yahoo it’s much less.
@eltraveluis3 жыл бұрын
I am an old guy and thought your channel was a soft seller. I was very wrong. AWESOME channel and great listen..congrats
@mikhaillindan90913 жыл бұрын
Impressive that you are transparent, well done
@pwatom223 жыл бұрын
Joseph, would have been good to have shown the charts for tencent that confirms the implied miraculous gross sales and margins.
@MaxMustermann-yj1wz3 жыл бұрын
Hes managing a fund, Alibaba can go sideways along time and drag down his fund performance. I couldn't care less that he sold Baba. 🤷♂️
@accqpqp23393 жыл бұрын
Mohnish can do all his audience a favor by having a better audio quality system for sure
@lowdowski53373 жыл бұрын
How do we get Tencent. There seems to be no US listing? Does it have to be OTC?
@MasterChiefSpartan3 жыл бұрын
TCEHY is an OTC stock.
@mr.sandman28113 жыл бұрын
what about selling and buying on hong kong exchange? Hkg is not shown on 13f right?
@miriow993 жыл бұрын
Joseph, do you even lift? :)
@robertc62933 жыл бұрын
I dont understand why Tencent having no cash on hand is a good thing? I get that theyre reinvesting but everyone should have cash should there be unpredicable events that require big costs to a corporation. Nobody can tell the future. Thats why individuals are suggested to have 6 months of savinfs for an emergency.
@notnoternexto3 жыл бұрын
They do have cash. Go look at a balance sheet
@nstevens81e3 жыл бұрын
You're right, now I wanna take a portion of my BABA and split it with Tencent.
@David-dv9tg3 жыл бұрын
The feel when your biggest position is in Tencent already...
@syavasyanikhilvadavalli44953 жыл бұрын
When will we know if he actually bought Tencent Holdings? 2022 Q1? I guess we will know it through SEC filings?
@tiagorodrigues62733 жыл бұрын
Great the content as always. Different question, what are the perspectives on VICI? It just went up by 3% today.
@DuyNguyen-lo2mm3 жыл бұрын
How do you buy The vent isn't in OTC market?
@premyesudian95263 жыл бұрын
Anyone have the link to the mohnish video
@seanek93 жыл бұрын
Seems like classic case of chasing losses.
@dkgong3 жыл бұрын
He is also probably taking advantage of some tax-loss harvesting since we're nearing the end of the year.
@Kig_Ama3 жыл бұрын
That's exactly what I did this month.
@geeked-outbasketball7653 жыл бұрын
Great take as usual Joseph. Appreciate how you dig deeper into the headlines to give us more context.
@NickyHoang3 жыл бұрын
What is tencents ticker symbol?
@lmeyers96153 жыл бұрын
You can buy Prosus, holding, they own more than 30% of Tencent..
@timdog18633 жыл бұрын
You did it again Joseph! Great inside on Monish and his insight on Tencent. I'm going to do more research on this company...
@AmanMunnaBali3 жыл бұрын
Another great video Joseph! Thanks for sharing your thoughts. Monish has talked about buying Tencent via Prosus and Naspers.
@PhillipeNover3 жыл бұрын
Any chance Monish sold in order to tax lost harvest a significant loss and in 30+ days he’ll buy in again to restart a new position? Seeing that BABA is likely going to trade sideways for the next few months.
@harrymajarian96803 жыл бұрын
That’s a good point
@filipecosta32853 жыл бұрын
Any insight on CRWD dropping 10%+ today? Buying opportunity maybe?
@711-v3k3 жыл бұрын
Just what i was about to say, ?
@711-v3k3 жыл бұрын
@L G i just bought more
@dimzoll36693 жыл бұрын
Still a VIE, still prone to Chinese officials whimps and still risk of delisting. There are other opportunities with less risks
@chrismullarkey31813 жыл бұрын
How much can you bench?
@danielgrass52903 жыл бұрын
Would love for you to go over what happened with $o with the recent split into 2 different companies? I think that’s what happened but not 100%
@ziprun20053 жыл бұрын
Dude, fantastic info. Got me thinking hard.
@AG-en5y3 жыл бұрын
Great video homie. Love the way you present your content and the transparency of how you do things Much love from Canada
@theinvestinglane3 жыл бұрын
I've heard that Mohnish didn't sell his BABA shares, but transferred them to the Hong Kong exchange. Could this be? and how would we check this?
@golda37603 жыл бұрын
Joseph you are spot on with your commentary. For those on the sidelines wondering about BABA and Tencent, perhaps they should consider VWO till they've completed their stock research?
@DIY_FInance_Guy3 жыл бұрын
I noticed Tencent is not marginable at Schwab but Alibaba is marginable like a normal blue chip stock. Any ideas why? Normally that indicates the broker feels one is higher risk.
@MasterChiefSpartan3 жыл бұрын
Tencent (TCEHY) is only available in the US as a OTC stock that is not listed on any US stock exchange while Alibaba is listed on a US stock exchange.
@bardia523 жыл бұрын
What's the ticket for Tencent?
@MasterChiefSpartan3 жыл бұрын
TCEHY
@gn39973 жыл бұрын
Thanks Joseph for sharing this with us! Love the content
@LeveragedFinance3 жыл бұрын
who owns the dataroma site?
@haraldversteegden25623 жыл бұрын
3:51 NO ............................. Stop with " .............as fast as possible............................."
@yellowfish5553 жыл бұрын
If he had 20% in alibaba and sold 75% than he sold 15%. I believe he have to report above 5%? If so he cant be buying tencent in more than a third of what he sold. Correct me if im wrong.
@ikst1233 жыл бұрын
Hi Joseph, Kindly do an update on Ali babas 2Q 2021 results. What are your thoughts now? Looking forward to this update. Thanks!
@ketchgreg3 жыл бұрын
Story Fund doing well. Do you also benchmark the Divident/Growth portfolio (previously known as Divident portfolio)?
@entwine3 жыл бұрын
Nice guess! I saw that Mohnish sold Alibaba and I also watched the video where he talks about Tencent, but somehow it didn't connect in my head. You might very well be right.
@FinancialLiteracyShow3 жыл бұрын
Have you benchmarked your main dividend growth fund?
@nickslemonadestand70843 жыл бұрын
Excellent work Joseph! I've been contemplating my China allocation as well. TCEHY BABA JD & NIO. Got lucky with NIO, bought in the $2-4 range. Still a TSLA heavy portfolio though. I talk about this on the channel.
@austinhamer65193 жыл бұрын
Super insightful video. Thanks for the upload.
@User_not_found_4033 жыл бұрын
Very interesting perspective from Monish. Tencent has the too much money problem - oh how I wish that was my biggest concern in life.
@wadfadfpij32ihp3 жыл бұрын
I believe Mohnish owns Tencent via Prosus. Prosus is not listed in the USA, thus does not have to report his ownership via 13-F reports to the SEC. Even crazier sometimes Prosus even trades below NAV and you can get an asset play for free on top of owning a great company.
@johnbrion45653 жыл бұрын
Yes but will these companies ever be able to close the gap? It’s not easy to liquidate $200 billion of stock.
@NoRegertsHere3 жыл бұрын
He could have sold his US holdings for a loss and purchased it on the HK market. Same with Tencent. Could already own it, but doesn’t have to disclose on his 13F
@Steve_Gouws3 жыл бұрын
Interesting thoughts. Thanks
@mdr690013 жыл бұрын
I don't agree with Monish here. He basically changes from a software company to another software company just because Tencent would have better engineers which is debatable. Also Alibaba have the lead concerning cloud computing, and I don't think they will ever lose it (just like amazon in the USA). Very strange to sell this aggressively from Alibaba, especially at a huge loss. Video gaming as a ton of competitions, I simply don't get it. Alibaba will be the only king in China in what they do (just like Amazon in the USA).
@CommandoMaster3 жыл бұрын
Employees are expenses at the end of the day for a company (especially expensive ones), which is not a good thing if you're not making a ROI on them.
@TheAcharyaa3 жыл бұрын
I think you’re underestimating Tencent here - they are more like fb + video games + Berkshire. However I agree with you Alibaba is fantastic with plenty of room to grow. Maybe Monish sold more for tax reasons and will buy back on the HKSE?
@notex8432 жыл бұрын
Alibaba ✅✅🇨🇳🇨🇳💪🏽💪🏽💪🏽✅🚀🚀🇨🇳♥️
@axhoang3 жыл бұрын
has Joseph considered a investment in tencent ?
@Hawxxfan3 жыл бұрын
In the words of Peter Thiel (and also Monish himself): "True monopolies will try to convince people they are not a monopoly, and businesses that are not monopolies will try to convince people that they are." Both alibaba and Tencent fall in the monopoly category IMO
@robertc62933 жыл бұрын
Isnt definition of monpoly mean 1 company? Arent you talking about a binopoly? lol
@Hawxxfan3 жыл бұрын
@@robertc6293 fair point, perhaps I can clarify my thought - these two companies want us all to think they compete fiercely with each other, when in reality they are both dominant in their own unique realms
@YoungGrizzly3 жыл бұрын
Sounds like when Peter Thiel was talking to Google's CEO.
@samyvik28883 жыл бұрын
thanks for your great videos as always! These days there is a lot of talk about BABA delisting - Is it better to convert BABA right away to the OTC option BABAF? or is it better to convert them to the HK equivalent? or is it better to hold these ADR stocks as is and decide at the time of delisting - hope its not too late then? Any guidance??
@Creative2s3 жыл бұрын
this insight is impressive!
@lloydloots903 жыл бұрын
Thank goodness for the double speed option on these long videos
@Kig_Ama3 жыл бұрын
R u invested in tencent?
@goupilapps3 жыл бұрын
He may not even have sold Alibaba, maybe he just have converted the ADR into HK shares and that appear as a sell in the 13F form. We just have no idea.
@muginslake97393 жыл бұрын
He never had 20% of his portfolio, that is Charlie Munger (00:20)
@nacious4203 жыл бұрын
Love your videos!
@venupadarthi10453 жыл бұрын
great content.tx
@ivailoruikov55583 жыл бұрын
Joseph, congrats for this analysis!
@Tristen5013 жыл бұрын
Enjoyed the video!
@TheStallbr3 жыл бұрын
Love Monish and love Joseph, this episode was delightful
@HenrikhTarjumanyan3 жыл бұрын
Spot on !!!
@patcorn23 жыл бұрын
How much do you follow the Brandon from the New Money channel? Are you guys friends? I assume you're aware of each other at the very least. I'm just curious since he talked at length with a VERY similar message in a video he posted yesterday. I think it's possible that you two separately came to the same conclusion and I'm not pointing fingers or anything I just think the similarity is funny! All love for both channels! 😄❤️
@JosephCarlsonAfterHours3 жыл бұрын
No offense to him, but I don't follow him at all! But I completely agree with him if that was his take. Pabrai made his adoration for Tencent pretty clear in his last few videos.
@filipealmeida9803 жыл бұрын
This was a treat. Thank you
@useyourbrain12323 жыл бұрын
Isn't it a big financial risk when a company has a negative book value? What happens when they get a big fine and can't pay because they are short on cash?
@peterlee96303 жыл бұрын
Yea, but the companies being talked about don't have negative book values. Even if they are short in cash, they would probably take on a short term or long term liability to pay it off later on, but big companies like these aren't really suffering from fines since their tangible assets produce great returns anyways, which should pay them off without problem. The main issue is capital allocation, and how cash is deployed and distributed.
@zstero46123 жыл бұрын
A1 content as always!!
@tomfitz1573 жыл бұрын
Amzn has had a 42% ROIC. Apple and msft wish they could do that.