2Q24 Letter

I’m pleased to share the second quarter 2024 update for the Longriver Partners Fund. You can read it in the Letters section of this site once you’ve registered. I share my thoughts on Big Tech, Semis and Generative AI; and give an update on Pinduoduo, the Chinese eCommerce platform.

The picture above is one of my all-time favourite cartoon covers from broker CLSA. Published in 2013 by Francis Cheung, my mentor at the firm, it analyses the industrial crisis in China which followed the massive 2008 stimulus. Overcapacity and what to do with it is not a new issue for China and the global economy…