Distressed capital arbitrage: Hyflux (Part 1)

Hyflux Ltd: a Singaporean champion in distress Singapore recently amended its insolvency laws as part of a broader competitive move to attract capital, with the US model of Chapter 11 as inspiration. Hyflux Ltd, ostensibly a waste water and desalination business but in reality an infrastructure investment company with a construction business attached, has recently … Continue reading Distressed capital arbitrage: Hyflux (Part 1)

Market efficiency is time variant: book review

With predictable cognitive dissonance, I have for a long time held two seemingly distinct views: (1) the market does a very good job of pricing stocks, and (2) participants (ideally yours truly) in the market can outperform. A recent read by Paul D. Sonkin and Paul Johnson called Pitch the Perfect Investment (the title is … Continue reading Market efficiency is time variant: book review