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Patrick Gregory's Personal Meeting Room - Shared screen with speaker view
Zachary Katz
40:43
Because of government intervention? Or individual purchasing power?
zzeld
41:08
you mean achieving Alibaba's size?
Zachary Katz
42:04
and 腾讯 yes
Sarah Wang
44:30
Theres a huge difference in population also, half of China’s
Eric Li
45:23
Could you shed more light as to why Free Fire is profitable? Do they have an in-game currency, is this mobile/p.c? Type of game, MMORPG/ FPS?
Jerome Taillard
46:56
SeaMoney: Tower of credit risk?
Ben Stegeman
47:44
How do you see companies like Shopee, Sea Money, Grab pay, etc to keep their competitive advantage? I lived in Singapore for 4 months and I noticed that there was a significant amount of competition in these areas and they all look very similar.
Eric Li
48:03
There were rumors about China creating a digital currency. Would this play in as a risk towards the fintech business? What if USD no longer becomes the currency of choice?
Paurav Barot
49:58
Also, is Ad revenue equally strong in a third tier market? Does number of users translate to more revenue as compared to developed markets?
Jerome Taillard
50:04
Do they have good banking experience?
Angan Sarker
50:54
How does Sea Money compare to WeChat Pay. Is Tencent also helping them with Sea Money in any manner?
Jerome Taillard
51:26
If SE Asia is a cash based economy, how will consumers handle digital debt?
Eric Li
53:51
What is the financial literacy in South East Asia, that brings forth awareness to their credit scores? In the US, financial literacy is pretty low
Isaac Darwiche
54:11
On the same note to Jerome, how did the Chinese population adapt to the move towards digital debt?
rraju2
56:43
GaaS model?
jjarecki1
57:00
What do u feel differentiated you from your peers that helped you start a fund at such a young age?
jjarecki1
57:07
How do you see the threat of deglobalization because of coronavirus on your thesis’ around southeast Asian growth?
zzeld
58:05
I'm curious to learn how you gather and process primary information since you are based in the USA. How do you verify information you were given/told or saw from the media?
Paurav Barot
59:16
@CommServiceTeam: HUYA is looking good!
camerongruss
59:24
What compels people in south east Asia to shop on shoppee or pay using sea money instead of using Alibaba, AliExpress, Alipay, or WeChat pay— established companies that already have user trust
Jerome Taillard
01:06:09
Yes, you did. Thanks.
Jerome Taillard
01:09:59
So what about Sea Limited?
Jerome Taillard
01:10:05
In terms of governance?
Jerome Taillard
01:11:53
Thanks for all the info. Very informative!
Jeff Russel
01:13:29
IF you look at LK you had shareholders like Lone Pine, Melivin who have seemingly endless resources.. What are you doing differently in your research process or what resources/sources do you use that are different to get over the fear of the trap door in your scenario analysis...
Padraig Duna
01:20:54
thanks for hosting this chat! Thanks Dennis for speaking to us! Very insightful.
Isaac Darwiche
01:20:55
Thank you Dennis!
Tyson Corner
01:20:56
Thank you!
Rishiraj Parekh
01:21:01
Thanks !
Jerome Taillard
01:21:01
Thank you Dennis!
Angan Sarker
01:21:05
Thanks!
Diego Cat
01:21:07
thank you
Isaac Darwiche
01:23:17
For those of you not in BCF, pitches require a 70% approval rate by BCF members in order for our teams to actually execute the trade.
John Hickling
01:36:08
Thankyou Patrick for highlighting the importance of primary research that Zach exhibited
Jerome Taillard
01:38:35
Is it S&P500 the benchmark or SPY? It matters as S&P500 is total returns (dividends reinvested) while SPY does not reinvest dividends.
rraju2
01:38:55
Thank you so much for making this!
Jeff Russel
01:38:58
Hat tip to the Quant team...
Isaac Darwiche
01:39:48
Thank you guys!
Jerome Taillard
01:40:16
OK, it is not that minor over 10 years!
jcahill
01:41:26
The dividends are added in to the portfolio analysis function for SPY using bloomberg
Jerome Taillard
01:41:54
OK, makes sense.
Jerome Taillard
01:42:16
OK
jcahill
01:59:03
Can you talk about your forecast on restaurant revenues over next few quarters? And remind us of their market segment % again?
Arteen Zahiri
01:59:44
Can you touch a bit on the $500M convertible preferred equity investment received today from KKR? How do you see that partnership affecting the firm’s business operations?
Adam Liebhoff
02:00:34
I may be missing it, but can anyone point me to the place in the slides or report that include the specific comparables?
Zachary Katz
02:01:58
How does this compare with our current holdings in the sector? Where does it fit in?
Arteen Zahiri
02:04:00
@Adam I see in the model there are only 3 comps, United Natural Foods (UNFI), Sysco (SYY) and Performance Food Group (PFGC)
Pratima
02:04:37
Given the declines in retail and restaurants that your are forecasting, how do revenues and ebitda stay flat in 2020?
Adam Liebhoff
02:04:44
I see that also, but no numbers populated in the model I opened. Maybe a tech issue for me...
Zachary Katz
02:05:29
^ his circuit breaker might accidently be on. See if it is or enable iterations (I had to increase mine to 1000) for the model to populate
Adam Liebhoff
02:09:18
Nope - it’s the FactSet Codes. I’m trying to access on my iPad.
camerongruss
02:10:40
I could be missing info here but this slide is showing revenue growth from 2020-2021 as well as a negligible decline from 2019-2020— is this realistic given slump in demand from Corona
Rishiraj Parekh
02:10:43
I meant Distribution Charges* . Thank you
Jerome Taillard
02:16:35
Thank you everyone. I have to go. All the best! Happy investing!
Rishiraj Parekh
02:17:20
Thank you everyone.
Zachary Katz
02:18:27
Is distribution affected by the travel bans/ pandemic?
Isaac Darwiche
02:19:31
How are you planning to fund the position? How will the position's weight compare to other holdings?
Zachary Katz
02:24:34
how is it trading compared to itself? The price is basically at an all time high... so why now?
Arteen Zahiri
02:38:36
Thoughts on Comcast’s acquisition of streaming service Vudu? How will this be integrated with Fandango/Peacock?
Zachary Katz
02:47:02
I can attest to these 2am debates relatively often