What have the foreigner investors been selling?

The clever folks at Asia Plus Securities put this out earlier in the week showing what foreign investors have been selling in Thailand during the month of November.

And the damage is clear to see, telco’s especially ADVANC are being hurt badly followed by the banks, why? We hypothesize that well both sectors are overvalued, two, if you were a mutual fund manager overweight Thailand and you had to go to neutral weighting which positions are the most liquid, the banks (no more corp income tax reduction boost) and telcos (will ADVANC and DTAC have to invest in their own towers?) have below average growth for next year.

foreign1 foreign2

Random Thoughts: Lots of Instagram users = Good thai stocks?

Not directly related to the market but its interesting to see the latest numbers from Instagram showing that the #1 location in the world was Siam Paragon and that for the most instagrammed cities, Bangkok was #2, you can see below for the whole list. Now if I’m reaching for an investment case…well high number of smart phones in Thailand – top retailer JMART, lots of data users, then the telco’s ADVANC, DTAC and TRUE, high number of visitors then you have the airport, AOT, the airlines, THAI, AAV, NOK, if high visitors then the hotels..CENTEL MINT, ERW, lots of visitors in the hotels, then the food supplier, MAKRO. We could build the web out even future to include logistics co’s, leasing co’s, financing etc etc but you get this random thought ;)

The 10 top locations for the network in 2013 were:

1. Siam Paragon shopping mall, Bangkok

2. Times Square, New York

3. Disneyland, California

4. Bellagio Fountains, Las Vegas

5. Disney World, Florida

6. Staples Centre, Los Angeles

7. Central Park, New York

8. Dodger Stadium, Los Angeles

9. Suvarnabhumi International Airport, Bangkok

10. High Line, New York

The 10 “most-Instagrammed” cities in 2013 were:

1. New York City

2. Bangkok

3. Los Angeles

4. London

5. Sao Paulo

6. Moscow

7. Rio de Janeiro

8. San Diego

9. Las Vegas

10. San Francisco

 Source: The Nation

Wealthiest Investors in Thailand

Well Money & Banking came out with their latest analysis showing the top wealthiest investors/families in Thailand and here’s the list below.

set_wealthiestSource: Bangkok Post

What catches our eyes other than BGH yielding two of the wealthiest investors in Thailand (#1 and #6), are firstly, how JAS’s owner got into the top 10, we’ve gone on long and long enough about JAS here in the past and with them trying to pull off an infrastructure fund similar to TRUEGIF, which itself had issues and difficulties coming to market, we doubt JAS can pull off a successful infrastructure fund and we still don’t understand its valuations nor its profitability for that matter.