SK and japan have many good companies (above global mean\median in competence). i anticipate owning them will eventually payoff same or more than indexing there.
SK Hynix is no doubt competent like many others, but needed a meme moment to be rewarded.
I like the way you shifted the question from “is the breach over?” to “what second-order signal is the market still missing?”
The Korea wealth-effect angle is interesting because Coupang is not the obvious AI trade, but it may still sit downstream of the same capital cycle. If semiconductor wealth, bonuses, brokerage gains, weddings, and births are all moving in the right direction, the question becomes whether that eventually shows up in category mix, advertising intensity, R.Lux/Farfetch, or higher-frequency household spend.
Curious whether you think the first visible signal would show up in GMV growth, margin mix, or management commentary before the market really connects the dots.
Nice. I am writing about Korea and my piece will come out on Monday.
interested in reading that.
SK and japan have many good companies (above global mean\median in competence). i anticipate owning them will eventually payoff same or more than indexing there.
SK Hynix is no doubt competent like many others, but needed a meme moment to be rewarded.
Yes. Meme needed. Love that
I like the way you shifted the question from “is the breach over?” to “what second-order signal is the market still missing?”
The Korea wealth-effect angle is interesting because Coupang is not the obvious AI trade, but it may still sit downstream of the same capital cycle. If semiconductor wealth, bonuses, brokerage gains, weddings, and births are all moving in the right direction, the question becomes whether that eventually shows up in category mix, advertising intensity, R.Lux/Farfetch, or higher-frequency household spend.
Curious whether you think the first visible signal would show up in GMV growth, margin mix, or management commentary before the market really connects the dots.