The arguments for and against active and passive fund management continue unabated. Even Warren Buffett has come out in support of index funds in Berkshire Hathaway’s latest letter to shareholders. A recent article in the Financial Times, Active management industry in bafflingly good health, by newspaper’s Senior Investment Columnist, John Authers, discusses the potential impact of the growth in passive investing. The article makes some interesting points, but also illustrates a number of common misconceptions.
I have just published a research article on Wheelock & Co (ticker: 20 HK), which is available at Seeking Alpha.
I have just initiated a position in the Hong Kong holding company, Wheelock & Co (ticker: 20 HK). Its main asset is a 52% shareholding in Wharf Holdings (ticker: 4 HK). Wheelock’s shares are trading at a historically large discount to both net asset value and book value. I plan to publish research on Wheelock shortly.