Asia Value Capital's Huang Kuhan, "No. 1 Value Investor in Taiwan": Bridging Value Investors from the East and the West

Each year many top value investors across the globe gather in private meetings before or after Berkshire's AGM. It is Huang's fifth time to join the annual meeting. During past events, Huang communicated face-to-face with key investment managers of Berkshire Hathaway, Todd Combs and Ted Weschler, and also joined up with top value investors in private gatherings, such as executives from Sequoia Fund. This year, in addition to attending Berkshire's annual gatherings, Huang will also meet up with a variety of important financial institutes on the East Coast such as top University Endowments and The Blackstone Group. On May 4^th, he will attend a dinner party for value investors held by Columbia University, which is considered the cradle of value investing.

A long-time admirer of Warren Buffett, Huang sees the "Oracle of Omaha" as one of the frontrunners of value investing. "What Buffett has done and his ideas are a great inspiration to value investors all over the world. However, for Chinese investors, we should also take the ever-changing economic reality into consideration. There should be an approach to value investing in the Chinese context." said Huang.

In Huang's own philosophy of value investing, he elaborated that the evolution of value investing consists of four stages: "Value investment 1.0", following Benjamin Graham, focused on physical assets, margin of safety, and proper diversification. "Value investing 2.0" was based on the philosophy of Benjamin Graham and Philip Fisher, focusing on growing and high potential enterprise, business models, management, and qualitative analysis. "Value investing 3.0" saw Warren Buffett and Charlie Munger emphasize barriers to entry, management's character and skills, as well as intrinsic value and cash flows. Huang believes the industry has now evolved to the stage of "Value investing 4.0", with the keys being long-term capital structure, great entrepreneurship, and deep understanding of the nature of industries and critical drivers.

"China has many enterprises with the potential to become very large and successful. Although they are quite young, they are catching up quickly. There are few chances for value investing 1.0 left in China due to short enterprise history. For value investors in China, they might bypass the second phase and ride the wave of value investing 3.0 or 4.0." said Huang.

About Asia Value Capital

Founded by Huang Kuhan, Asia Value Capital is an independent asset management company not affiliated with any financial institutions or consortium. It carries the ethos of value investing in its philosophy, which put great emphasis on the importance of long-term investing as well as locating and investing in undervalued companies that hold a substantial intrinsic value.

SOURCE Asian Value Capital