Compounding Curiosity

My 2021 recap! Talking a little about my lessons learned so far, some future guests, episodes, and plans for the podcast, and some of my stats so far. Will be back to regularly scheduled guests from next week!

For the full show notes, transcript, and links to mentioned content, check out the episode page on  https://compoundingpodcast.com/ep26 

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Stay up to date with the podcast by signing up to the Compounding Curiosity Substack, where I’ll email you when the latest episode comes out along with my summary and takeaways, links to mentioned content, graphics and the transcript. Sign up at https://compoundingcuriosity.substack.com/ 

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Connect with Kalani:

Visit the Compounding Curiosity PODCAST: https://CompoundingPodcast.com/ 

Visit the Compounding Curiosity SUBSTACK: https://compoundingcuriosity.substack.com/ 

Follow Kalani Scarrott on TWITTER: https://twitter.com/ScarrottKalani/ 

Sign up for Allocators Asia: https://KalaniS.substack.com/ 

Join the DISCORD: https://discord.gg/NPVNPVsCYb

My guest today is Max Koh (@heymaxkoh). Max is a private investor from Singapore with a background in marketing.

In this conversation, we cover how marketing and investing intertwine, some interesting ways to research a company, and the lessons he’s learned along the way.

I hope you enjoy my conversation with Max Koh.

For the full show notes, transcript, and links to mentioned content, check out the episode page on  https://compoundingpodcast.com/ep25 

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Show Notes:

[00:00:31] - [First question] - Max’s background

[00:10:06] - Lessons from Marketing applicable to Investing?

[00:13:10] - Customer psychology and what to look for

[00:16:22] - Max’s idea generation process

[00:18:24] - Max’s most painful investing lesson

[00:26:20] - Investments that Max avoids

[00:28:23] - Interesting and alternative research methods

[00:30:33] - What makes an interesting founder?

[00:36:11] - The secret to growing Max’s twitter account

[00:39:53] - Max’s favourite books?

[00:44:09] - Most unvalued life experience?

[00:48:06] - Plans for the future?

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Connect with Max:

Follow Max on Twitter: https://twitter.com/heymaxkoh 

Connect with Max on LinkedIn: https://www.linkedin.com/in/maxkohgo/ 

Max’s Newsletter: https://maxkoh.substack.com/ 

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Mentioned/Recommended Content:

Nick Sleep Letters: https://igyfoundation.org.uk/wp-content/uploads/2021/03/Full_Collection_Nomad_Letters_.pdf 

The Investment Checklist by Michael Shearn: https://www.amazon.com/Investment-Checklist-Art-Depth-Research-ebook/dp/B005OYGOZW 

How to Fail at Almost Everything and Still Win Big by Scott Adams: https://www.amazon.com/How-Fail-Almost-Everything-Still/dp/0241003709 

So Good They Can't Ignore You by Cal Newport: https://www.amazon.com/Good-They-Cant-Ignore-You/dp/1455509124 

The Education of a Value Investor by Guy Spier: https://www.amazon.com.au/Education-Value-Investor-Guy-Spier/dp/1137278811 

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Stay up to date with the podcast by signing up to the Compounding Curiosity Substack, where I’ll email you when the latest episode comes out along with my summary and takeaways, links to mentioned content, graphics and the transcript. Sign up at https://compoundingcuriosity.substack.com/ 

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Connect with Kalani:

Visit the Compounding Curiosity PODCAST: https://CompoundingPodcast.com/ 

Visit the Compounding Curiosity SUBSTACK: https://compoundingcuriosity.substack.com/ 

Follow Kalani Scarrott on TWITTER: https://twitter.com/ScarrottKalani/ 

Sign up for Allocators Asia: https://KalaniS.substack.com/ 

Join the DISCORD: https://discord.gg/NPVNPVsCYb

My guest today is Jon from Asianometry (@asianometry), creator of the hugely popular Asianometry YouTube channel where he posts video essays on business, economics, and history within Asia.

In this conversation, we cover his process for creating YouTube videos, some lessons learned along the way, and his plans for the future.

For anyone interested in the YouTube landscape and Jon’s topics, this one is a must-listen.

I hope you enjoy my conversation with Jon from Asianometry.

For the full show notes, transcript, and links to mentioned content, check out the episode page on  https://compoundingpodcast.com/ep24 

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Show Notes:

[00:00:31] - [First question] - Jon’s process of making a video

[00:05:43] - The origin of Asianometry

[00:14:29] - Videos that performed differently to expectations?

[00:17:37] - What videos are the hardest to make?

[00:19:02] - What's been Jon’s favourite video to make?

[00:25:22] - Advice for YouTube creators?

[00:26:31] - How much of the process can be outsourced

[00:28:08] - Plans for the future?

[00:29:42] - Life in Taiwan

[00:32:35] - Underrated skill or experience?

[00:34:18] - Influential books?

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Connect with Asianometry:

Asianometry’s YouTube: https://www.youtube.com/c/Asianometry/featured 

Follow Asianometry on Twitter: https://twitter.com/asianometry

Asianometry Newsletter: https://asianometry.substack.com/ 

Asianometry Podcast: https://anchor.fm/asianometry 

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Mentioned/Recommended Content:

Postwar by Tony Judt: https://www.amazon.com/Postwar-History-Europe-Since-1945/dp/0143037757 

Master of the Senate by Robert Caro: https://www.amazon.com/Master-Senate-Robert-Caro/dp/0394720954 

Autumn in the Heavenly Kingdom by Stephen Platt: https://www.amazon.com/Autumn-Heavenly-Kingdom-China-Taiping/dp/0307472213 

Iron Curtain by Anne Applebaum: https://www.amazon.com/Iron-Curtain-Crushing-Eastern-1944-1956/dp/140009593X 

How Asia Works by Joe Studwell: https://www.amazon.com.au/How-Asia-Works-Success-Failure/dp/0802121322 

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Mentioned Asianometry Videos:

What Eating the Rich Did For Japan: https://www.youtube.com/watch?v=5_-Ac68FKG4 

How Carl Zeiss Crafts Optics for a $150 Million EUV Machine: https://www.youtube.com/watch?v=V__HbVlnICc 

Australia's Water Project Failure: An Economic Breakdown: https://www.youtube.com/watch?v=mjtj38rc2DI 

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Stay up to date with the podcast by signing up to the Compounding Curiosity Substack, where I’ll email you when the latest episode comes out along with my summary and takeaways, links to mentioned content, graphics and the transcript. Sign up at https://compoundingcuriosity.substack.com/ 

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Connect with Kalani:

Visit the Compounding Curiosity PODCAST: https://CompoundingPodcast.com/ 

Visit the Compounding Curiosity SUBSTACK: https://compoundingcuriosity.substack.com/ 

Follow Kalani Scarrott on TWITTER: https://twitter.com/ScarrottKalani/ 

Sign up for Allocators Asia: https://KalaniS.substack.com/ 

Join the DISCORD: https://discord.gg/NPVNPVsCYb

My guest today is Punch Card Investor (@punchcardinvest). Punch Card is a private investor working in investment management in Singapore, with prior experience in M&A and investment banking. He is the author of the Punch Card Investor Substack blog where he does deep dives on companies in the technology, gaming, media and consumer sectors, and recently completed a series of articles on Sea Limited. In this conversation, we cover everything Sea Limited. From Shopee, Garena, SeaMoney, and everything in between, this episode has Sea Ltd covered.

I hope you enjoy my conversation with Punch Card Investor on Sea Ltd.

For the full show notes, transcript, and links to mentioned content, check out the episode page on  https://compoundingpodcast.com/ep23 

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Show Notes:

[00:00:31] - [First question] - Why do a deep dive on Sea Ltd?

[00:04:03] - Sea’s background and goals

[00:06:15] - FreeFire’s life cycle risk

[00:13:02] - FreeFire’s expansion plans

[00:14:31] - Tencent’s deal with Garena and the future of it

[00:18:15] - Shopee’s business model and how they fit into Sea

[00:22:39] - Lazada and Shopee’s competitions

[00:25:47] - SeaMoney’s business model

[00:28:36] - FinTech regulation?

[00:33:34] - Sea’s management

[00:36:07] - Anything else from Sea to be aware of?

[00:38:00] - Punch Card Investor’s background

[00:40:26] - Most undervalued life experience?

[00:42:36] - Influential books?

[00:44:42] - Plans for the future?

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Connect with Punch Card Investor:

Follow Punch Card on Twitter: https://twitter.com/punchcardinvest 

Punch Card’s Newsletter: https://punchcardinvestor.substack.com/ 

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Mentioned/Recommended Content:

Garena: https://punchcardinvestor.substack.com/p/sea-ltd-part-1-garena-building-a 

Shopee: https://punchcardinvestor.substack.com/p/sea-ltd-part-2-shopee-the-everything 

SeaMoney: https://punchcardinvestor.substack.com/p/sea-ltd-part-3-seamoney-the-fintech 

Connecting The Dots: https://punchcardinvestor.substack.com/p/sea-ltd-part-4-connecting-the-dots 

Antifragile by Nassim Taleb: https://www.amazon.com/Antifragile-Things-That-Disorder-Incerto/dp/0812979680 

Poor Charlie’s Almanack by Charlie Munger: https://www.amazon.com/Poor-Charlies-Almanack-Expanded-3rd/dp/1578645018 

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Stay up to date with the podcast by signing up to the Compounding Curiosity Substack, where I’ll email you when the latest episode comes out along with my summary and takeaways, links to mentioned content, graphics and the transcript. Sign up at https://compoundingcuriosity.substack.com/ 

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Connect with Kalani:

Visit the Compounding Curiosity PODCAST: https://CompoundingPodcast.com/ 

Visit the Compounding Curiosity SUBSTACK: https://compoundingcuriosity.substack.com/ 

Follow Kalani Scarrott on TWITTER: https://twitter.com/ScarrottKalani/ 

Sign up for Allocators Asia: https://KalaniS.substack.com/ 

Join the DISCORD: https://discord.gg/NPVNPVsCYb 

My guest today is Stephen Clapham (@steveclapham). Steve is a former partner of a Tiger Cub and former Head of Research at a second multi-billion hedge fund. Nowadays, he is the founder of Behind the Balance Sheet, where he produces investment research and offers training services. Steve is also the author of the book, The Smart Money Method: How to pick stocks like a hedge fund pro. 

In this conversation, we cover red flags for fraud, accounting standards, and his new podcast.

I hope you enjoy my conversation with Stephen Clapham.

For the full show notes, transcript, and links to mentioned content, check out the episode page on  https://compoundingpodcast.com/ep22 

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Show Notes:

[00:00:32] - [First question] - Where Stephen starts when analyzing financial statements

[00:02:15] - Red flags to look out for? 

[00:08:05] - Why don’t people care about financial statements?

[00:19:10] - What changes would Stephen make to accounting standards?

[00:25:17] - How to align incentives of auditors, companies and shareholders

[00:27:30] - Worst accounting offenses he’s seen

[00:28:31] - Why did Stephen start his podcast?

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Connect with Stephen:

Follow Stephen on Twitter: https://twitter.com/steveclapham 

The Smart Money Method: https://www.behindthebalancesheet.com/the-smart-money-method 

Behind the Balance Sheet’s Website: https://www.behindthebalancesheet.com/ 

Behind the Balance Sheet Podcast: https://www.behindthebalancesheet.com/podcasts 

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Mentioned/Recommended Content:

The Smart Money Method: https://www.behindthebalancesheet.com/the-smart-money-method 

FT Financial Literacy and Inclusion Campaign: https://www.ft.com/flic 

The Analyst Academy: https://courses.behindthebalancesheet.com/p/analyst_academy 

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Stay up to date with the podcast by signing up to the Compounding Curiosity Substack, where I’ll email you when the latest episode comes out along with my summary and takeaways, links to mentioned content, graphics and the transcript. Sign up at https://compoundingcuriosity.substack.com/ 

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Connect with Kalani:

Visit the Compounding Curiosity PODCAST: https://CompoundingPodcast.com/ 

Visit the Compounding Curiosity SUBSTACK: https://compoundingcuriosity.substack.com/ 

Follow Kalani Scarrott on TWITTER: https://twitter.com/ScarrottKalani/ 

Sign up for Allocators Asia: https://KalaniS.substack.com/ 

Join the DISCORD: https://discord.gg/NPVNPVsCYb

My guest today is Matthew Ruber. Matthew is the founder of Enlihtan Capital Management. At Enlihtan, Matthew employs a research-intensive "bottom up" selection process, in order to find excellent businesses at prices which represent excellent business sense. Before Enlihtan, Matthew was a senior trader with Macquarie Bank in Australia and Hong Kong. And then successfully ran a multi-strategy proprietary trading business for CLSA in Hong Kong, focusing on merger arbitrage, volatility trading and value-based special situations. 

In this conversation, we cover how he melds Quantitative and Qualitative characteristics when finding investments, asking the right questions of your investments, and some stories and lessons from AGM’s.

Super fun and varied one today, I know I learned a tonne so I hope you do to. So please enjoy my conversation with Matthew Ruber.

For the full show notes, transcript, and links to mentioned content, check out the episode page on  https://compoundingpodcast.com/ep21 

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Show Notes:

[00:00:45] - [First question] - Most surprising thing about running your own fund?

[00:05:10] - Matthew’s quant background

[00:08:06] - What led Matthew to qualitative investing?

[00:11:24] - Matthew’s scorecard changes

[00:14:04] - Do you push back against a scorecard?

[00:16:08] - Lessons from AGM’s

[00:22:36] - Why move from Quantitative to Qualitative?

[00:24:26] - Approaching volatility after being a quant

[00:29:02] - Any aspects of investing that come easily to Matthew?

[00:33:20] - Why start your own fund?

[00:41:31] - Life outside investing?

[00:43:01] - Most undervalued life experience?

[00:44:56] - Influential books or resources?

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Connect with Matthew:

Enlihtan’s Website: http://www.enlihtan.com/ 

Connect with Matthew on LinkedIn: https://www.linkedin.com/in/matthew-ruber-09ab5338/ 

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Stay up to date with the podcast by signing up to the Compounding Curiosity Substack, where I’ll email you when the latest episode comes out along with my summary and takeaways, links to mentioned content, graphics and the transcript. Sign up at https://compoundingcuriosity.substack.com/ 

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Connect with Kalani:

Visit the Compounding Curiosity PODCAST: https://CompoundingPodcast.com/ 

Visit the Compounding Curiosity SUBSTACK: https://compoundingcuriosity.substack.com/ 

Follow Kalani Scarrott on TWITTER: https://twitter.com/ScarrottKalani/ 

Sign up for Allocators Asia: https://KalaniS.substack.com/ 

Join the DISCORD: https://discord.gg/NPVNPVsCYb 

My guest today is Thomas Chua (@SteadyCompound), founder and Lead Editor of Steady Compounding, where he now runs a stock research service focusing on Compounders and publishing his weekly newsletter.

In this conversation, we cover Thomas’ investment style and philosophy, and his story behind Steady Compounding.

I hope you enjoy my conversation with Thomas Chua.

For the full show notes, transcript, and links to mentioned content, check out the episode page on  https://compoundingpodcast.com/ep20 

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Show Notes:

[00:00:31] - [First question] - Background

[00:06:11] - Was Thomas always keen on sharing his work?

[00:10:34] - What does Thomas’ process look like?

[00:13:04] - Thomas’ information diet

[00:20:23] - From value investing to growth

[00:24:36] - Idea generation process

[00:26:01] - Situations to avoid 

[00:30:45] - Obscure and nitty-gritty research

[00:35:42] - Plans for Steady Compounding

[00:37:06] - Most undervalued life experience?

[00:38:01] - Influential books 

[00:38:35] - Where might opportunities lie today?

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Connect with Thomas:

Follow Thomas on Twitter: https://twitter.com/SteadyCompound 

Steady Compounding’s Website: https://steadycompounding.com/ 

Steady Compounding’s Substack: https://steadycompounding.substack.com/ 

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Mentioned/Recommended Content:

The Joys of Compounding by Gautam Baid: https://www.amazon.com/Joys-Compounding-Passionate-Heilbrunn-Investing/dp/0231197322 

100 Baggers by Chris Mayer: https://www.amazon.com/100-Baggers-Stocks-100-1/dp/1621291650 

The Little Book That Still Beats the Market by Joel Greenblatt: https://www.amazon.com/Little-Book-Still-Beats-Market/dp/0470624159 

Atomic Habits by James Clear: https://www.amazon.com/Atomic-Habits-Proven-Build-Break/dp/0735211299 

Poor Charlie's Almanack by Peter D. Kaufman: https://www.amazon.com/Poor-Charlies-Almanack-Charles-Expanded/dp/1578645018 

Poor Richard's Almanack by Benjamin Franklin: https://www.amazon.com/Poor-Richards-Almanack-Benjamin-Franklin/dp/1602391173 

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Stay up to date on the podcast by signing up to Curated by Kalani, where I share what I’ve been reading, learning, and watching for that week. I compress to impress and aim for maximal return on your time invested. Sign up at https://kalanis.substack.com 

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Connect with Kalani:

Sign up for "Curated by Kalani": https://KalaniS.substack.com/ 

Visit the Compounding Curiosity PODCAST: https://CompoundingPodcast.com/ 

Follow Kalani Scarrott on TWITTER: https://twitter.com/ScarrottKalani/ 

Join the DISCORD: https://discord.gg/NPVNPVsCYb

My guest today is Jeevan Vasagar (@jeevanvasagar). Jeevan is the Environment Editor at The Bureau of Investigative Journalism, and author of LION CITY: Singapore and the Invention of Modern Asia, which is today’s focus.

In this conversation, we cover Singapore’s past, its future, and the process of writing his book.

I hope you enjoy my conversation with Jeevan Vasagar.

For the full show notes, transcript, and links to mentioned content, check out the episode page on  https://compoundingpodcast.com/ep19 

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Show Notes:

[00:00:39] - [First question] - Jeevan’s background and history with Singapore

[00:02:50] - Were there always plans for a book?

[00:04:34] - Can other countries replicate Singapore’s success?

[00:07:37] - The failed union with Malaysia

[00:10:34] - How much credit can Lee Kuan Yew take?

[00:12:53] - The influence of the Lee family going forward?

[00:14:29] - The future of Singaporean politics

[00:19:41] - The role of media in Singapore

[00:22:03] - Singapore and Climate Change

[00:24:19] - The process of writing a book

[00:30:32] - Most undervalued life experience?

[00:34:40] - Influential books?

[00:35:49] - If Jeevan was 18 today?

[00:36:48] - Plans for the future

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Connect with Jeevan :

Follow Jeevan on Twitter: https://twitter.com/jeevanvasagar 

Lion City: Singapore and the Invention of Modern Asia: https://www.littlebrown.co.uk/titles/jeevan-vasagar/lion-city/9781408713587/ 

Connect with Jeevan on LinkedIn: https://www.linkedin.com/in/jeevan-vasagar/ 

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Mentioned/Recommended Content:

Rise and Fall of the Great Powers by Paul Kennedy: https://www.amazon.com/Rise-Fall-Great-Powers/dp/0679720197 

Lion City: Singapore and the Invention of Modern Asia: https://www.littlebrown.co.uk/titles/jeevan-vasagar/lion-city/9781408713587/ 

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Stay up to date on the podcast by signing up to Curated by Kalani, where I share what I’ve been reading, learning, and watching for that week. I compress to impress and aim for maximal return on your time invested. Sign up at https://kalanis.substack.com 

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Connect with Kalani:

Sign up for "Curated by Kalani": https://KalaniS.substack.com/ 

Visit the Compounding Curiosity PODCAST: https://CompoundingPodcast.com/ 

Follow Kalani Scarrott on TWITTER: https://twitter.com/ScarrottKalani/ 

Join the DISCORD: https://discord.gg/NPVNPVsCYb

My guest today is Pratyush Rastogi (@FarrerWealth). Pratyush is the CEO & Founder at Farrer Wealth Advisors, and was previously Head of Sales at Grab for Business, as well as prior experience in private equity.

In today’s conversation, we cover Pratyush’s investment philosophy, Farrer Wealth and starting your own business, and the benefits of sharing your ideas online.

I had a lot of fun with this one so I hope you enjoy my conversation with Pratyush Rastogi.

For the full show notes, transcript, and links to mentioned content, check out the episode page on  https://compoundingpodcast.com/ep18 

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Show Notes:

[00:00:36] - [First question] - Background

[00:04:23] - Going from advisory to a money management model

[00:05:34] - Challenges facing the advisory business

[00:06:33] - Advice for those thinking of starting their own fund?

[00:09:49] - What’s an average day look like for Pratyush?

[00:11:54] - Managing time and balance

[00:13:20] - What more people should know about his role

[00:18:01] - How has publishing ideas and research helped Pratyush?

[00:21:56] - Recommended books and newsletters

[00:26:41] - How did Pratyush get interested in investing?

[00:28:39] - Being a 32-year-old intern

[00:34:37] - A lowest low of his investment journey?

[00:37:11] - Thoughts on leverage

[00:39:36] - Underrated skill or experience?

[00:41:38] - Influential books shaping Pratyush’s worldview?

[00:44:29] - If Pratyush was 18 again?

[00:46:38] - Plans for the future?

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Connect with Pratyush :

Follow Pratyush on Twitter: https://twitter.com/FarrerWealth 

Farrer Wealth Advisors’s Website: https://www.farrerwealth.com/ 

Farrer Wealth’s Newsletter: https://farrerwealth.substack.com/ 

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Mentioned/Recommended Content:

Thinking in Bets by Annie Duke: https://www.amazon.com/Thinking-Bets-Annie-Duke/dp/0735216355 

Setting the Table by Danny Meyer: https://www.amazon.com/Setting-Table-Transforming-Hospitality-Business/dp/0060742763 

The Rational Optimist by Matt Ridley: https://www.amazon.com/Rational-Optimist-Matt-Ridley/dp/0061452068 

Die with Zero by Bill Perkins: https://www.amazon.com/Die-Zero-Getting-Your-Money/dp/0358099765 

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Stay up to date on the podcast by signing up to Curated by Kalani, where I share what I’ve been reading, learning, and watching for that week. I compress to impress and aim for maximal return on your time invested. Sign up at https://kalanis.substack.com 

------

Connect with Kalani:

Sign up for "Curated by Kalani": https://KalaniS.substack.com/ 

Visit the Compounding Curiosity PODCAST: https://CompoundingPodcast.com/ 

Follow Kalani Scarrott on TWITTER: https://twitter.com/ScarrottKalani/ 

Join the DISCORD: https://discord.gg/NPVNPVsCYb

My guest today is Mio Kato. Mio is the founder of LightStream Research, and was previously the head of research at Uzabase. LightStream Research melds traditional research with alternative data and AI to provide deeper insights into companies, industries and economic conditions. LightStream’s Asian focus is centred on Japan and India with a particular emphasis on the automotive, machinery and materials sectors and the technological developments impacting them.

In this conversation, we dive deep into the world of data and investing, Japanese equities, and Japanese companies expansion strategies.

I hope you enjoy my conversation with Mio Kato.

For the full show notes, transcript, and links to mentioned content, check out the episode page on  https://kalanis.substack.com/p/ep17 

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Show Notes:

[00:00:40] - [First question] - Mio’s background and history

[00:17:06] - Why are forecasts traditionally so bad?

[00:24:54] - Common pitfalls hedge funds make in regards to data?

[00:38:50] - Why do managers only use data for short term decisions currently?

[00:46:46] - Why have Japanese equities turned a corner?

[01:02:04] - Why have Japanese companies traditionally struggled overseas?

[01:05:39] - Common misconception around Japanese equitites

[01:15:51] - Undervalued skill or life experience?

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Connect with Mio:

Follow Mio on Smartkarma: https://www.smartkarma.com/profiles/mio-kato 

LightStream’s Website: https://lightstream-research.com/ 

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Stay up to date on the podcast by signing up to Curated by Kalani, where I share what I’ve been reading, learning, and watching for that week. I compress to impress and aim for maximal return on your time invested. Sign up at https://kalanis.substack.com 

------

Connect with Kalani:

Sign up for "Curated by Kalani": https://KalaniS.substack.com/ 

Visit the Compounding Curiosity PODCAST: https://CompoundingPodcast.com/ 

Follow Kalani Scarrott on TWITTER: https://twitter.com/ScarrottKalani/ 

Join the DISCORD: https://discord.gg/NPVNPVsCYb