Dalton Investments' Ong on Markets, Strategy

The transcript discusses investment strategies in China, Japan, Korea, and India. It highlights the challenges of investing in China due to government policies and the lack of alignment with minority shareholders. In contrast, Japan is seen as a well-regulated market with opportunities in family enterprises. Korea shows potential with improving corporate governance and changes in pension asset allocations. India is viewed as a long-term investment opportunity, but requires careful rebalancing of positions.

What is a major challenge for investors in China according to the transcript?

• Limited market access

• High inflation rates

• Lack of alignment between company management and minority shareholders

• Unstable currency

What is a potential risk of investing in China as mentioned in the transcript?

• Binary risks due to government policy

• Lack of technological innovation

• High corporate taxes

• Over-reliance on exports

Why does the speaker prefer investing in Japan over China?

• Japan has a larger market size

• Japan has more government incentives

• Japan offers better alignment with minority shareholders

• Japan has higher growth rates

What is a key factor driving investment interest in Korea?

• Improved corporate governance

• High GDP growth

• Strong currency

• Low labor costs

What change in Korea's pension asset allocation is mentioned?

• Increased allocation to real estate

• Decreased allocation to bonds

• Decreased allocation to foreign assets

• Increased allocation to equities

What is the speaker's long-term view on investing in India?

• India lacks growth potential

• India has a long-term bull story

• India is a short-term investment opportunity

• India's market is too volatile

What strategy does the speaker suggest for investing in India?

• Avoiding technology stocks

• Rebalancing positions based on stock valuations

• Holding onto best ideas indefinitely

• Focusing only on large-cap companies