I spoke with Enrique Becerra (aka @pandwatch88) about a presentation he recently published, titled “A Hitchhiker’s Guide to the China Stock Galaxy: 2026-2030”.

It is a lighthearted but serious attempt to cut through the noise that surrounds China and to bring some practical structure to the question every allocator eventually faces: how do you size China, if at all, when the risks are real but the opportunity set is too large to ignore.

If you already follow China closely, you will recognise many of the flashpoints, but you may still find Enrique’s framing useful, especially his focus on index distortions, valuation dispersion, and the difference between narrative risk and investable risk.

And if you do not follow China, this is a good entry point: a sceptic-friendly walk through the core objections, the data behind the bull case, and what would have to be true for China exposure to make sense in a global portfolio.

As always, this conversation is for general discussion only, not investment advice.

I spoke with Jevgenijs Kazanins about Wise plc, exploring his thesis that Wise has built the modern version of Citi: a global platform capable of serving customers locally, through a single sign-up, no matter where they are in the world. Actually, we spent a long time discussing my concerns about the company before I finally grasped what he was saying!

Jev's Substack PopularFintech is a great place to stay abreast of what's happening in Fintech, particularly the convergence of payments companies into software and vice versa. I highly recommend it because the breadth of his coverage allows him to see the wood for the trees.

Jev also posts regularly on X @jevgenijs.

Disclaimer: our conversation is NOT financial advice. Don't rely on our opinions. Always do your own research!

I received great feedback for a podcast I recorded with my wife Lizzie in 2022 as I was setting up this company. To mark Longriver’s third anniversary, she kindly agreed to interview me again.

We cover what I've learned as an entrepreneur, my investment process, what makes Longriver different and how exciting it is when fellow investors and business analysts reach out.

I hope you enjoy our conversation.

I spoke with analyst TP Huang about BYD, exploring his writing and analysis of the company, electrification and China's new industrial revolution.

If you are interested in these topics, I highly recommend you read TP's Substack. He excels in explaining the engineering and technical aspects which make electrification and BYD's rapid progress possible.

TP also posts regularly on X (@tphuang).

I spoke with Eric Markowitz, Partner and Director of Research at Nightview Capital, about an essay he published this year titled, “How a brush with death shaped my long game” (link). We dive straight into the details of a health crisis which shook Eric’s world in early 2023 (link) and then have an open-ended conversation about what he’s taken from it as a husband, father, friend and investor.

I highly recommend you read Eric's essay before you listen to (or read) our conversation. The context will help and you will get to enjoy Eric’s wonderful skill as a writer. If you want more, you can follow Eric on X (@EricMarkowitz) or at Big Think (link).

I spoke with Brian Mushonga and James Hull, co-Founders of the Caledon Energy Transition Fund, about their backgrounds, their partnership and their investment strategy.

We used Vertiv Holdings as a case study, touching on its history and development into one of the world’s leading power and thermal management suppliers to the data centre; its Chairman and his track record at Honeywell; its sales composition; and its role as a key supplier to the ongoing AI capex boom.

Finally, we discussed how Brian and James approach valuing cyclical stocks; how they overcome anchoring bias; and what could kill the boom.

I spoke with Daye Deng (邓达业), author of the East Asia Stock Insights substack, about the Chinese sportswear industry and two of its leading players, Anta and Li Ning.

We began with Daye's background as a Chinese person growing up in Japan and then Canada; his career as a buyside investor; and why he's now devoting his time to companies in East Asia.

We then discussed the trends driving Chinese consumers' interest in sportswear; what makes sportswear companies good businesses; the rise and travails of China's homegrown sportswear companies; Li Ning and Anta's origin stories; Anta's success with a multi-brand strategy; the two companies distinct cultures; their corporate governance issues; the persistence of fierce inventory cycles in the Chinese market; and Anta's investment in Amer Sports, a holding company which owns Arc'teryx, Salomon, Wilson and other brands.

My guest is Jesus Rodriguez, author of the Dungeon Investing substack, where he writes about miniatures, video games, tabletop games, comics, RPGs and investing.

In this conversation, we discuss Games Workshop, owner, designer and manufacturer of the Warhammer and Warhammer 40K range of miniatures. Jesús walks us through the company's rise-fall-and-rebirth to explain how its history shaped its culture. We then explore the trade-offs inherent in GW's hype-driven business model; the operational complexity and diseconomies of scale this creates; management's slow embrace of IP content; and the company's potential for growth.

If you'd like to read more of Jesús' work, I highly recommend starting here:

Analysis of Games Workshop (2017)

Games Workshop: A look into the future (2023)

Longriver Investment Partners Limited (“Longriver”) is licensed with the Securities and Futures Commission of Hong Kong (“SFC”) to provide Type 4 and Type 9 regulated activities in Hong Kong to Professional Investors only. Investment involves risk. This podcast is for informational purposes only and it is not intended as promotional material in any respect. It does not constitute an offer, recommendation, or solicitation to buy or sell any securities or services. Longriver makes no representations or warranties, express or implied, as to the accuracy or completeness of the content.

My guest is Ali Gündüz, a private investor from Berlin who closely follows Evolution AB, the Swedish B2B gambling services company. In this conversation, we discuss what we perceive as Evolution's key issues, including increasing competition; its dependence on Asian markets to sustain its growth; the slow roll-out of game shows in the US; its difficulties in RNG; and its need for a more consistent capital allocation policy.

You can find Ali on Twitter at @gnufs. He also shares his analysis publicly at www.dontdistribute.com, including quarterly updates on Evolution.

Longriver Investment Partners Limited (“Longriver”) is licensed with the Securities and Futures Commission of Hong Kong (“SFC”) to provide Type 4 and Type 9 regulated activities in Hong Kong to Professional Investors only. Investment involves risk. This podcast is for informational purposes only and it is not intended as promotional material in any respect. It does not constitute an offer, recommendation, or solicitation to buy or sell any securities or services. Longriver makes no representations or warranties, express or implied, as to the accuracy or completeness of the content.

My guest is Ethan Robertson, host of Wheelsboy, the leading English-language automotive reviewer in China, about China's Cambrian Explosion of New Energy Vehicle manufacturers, their intense competition for relevance, and how they stack up against Western and Japanese firms, including Tesla.

Wheelsboy produces the best car reviews I’ve ever watched and if you like this interview, you must check out their YouTube channel. Their most popular video is a review of the Hongqi H9, The Chinese S-Class that looks like a Rolls-Royce and Drives like a…

Some of my favourite videos are:

Hengchi 5: How $300 Billion In Debt And The World's Top Auto Designers Created A Mediocre Car

The World's Cheapest EV Convertible Is Delightfully Awful (Wuling MINI EV Cabrio)

Gaze Upon The Face Of The Trumpchi M8 And Tremble!

MG Cyberster: MG Is Back, Baby!

New School vs Old School- Li Auto L9 vs BMW X7