We have experienced a lot of headwinds in Vietnam during the last 12 months. However, we expect things will be turning during the next 12 months. From now on, the recovery rate will be determined by the Vietnamese market earnings…
Below is one paragraph from the last Investor Letter of the year. We have summarized here what happened in the Vietnamese stock market this fall, and what we think will follow. “Vietnam’s stock market’s weak performance this year is extraordinary.…
Interest rate hikes by the Fed and the ECB are keeping equity investors on edge. The Vietnamese economy and stock markets are bending but will not break. Here are a few highlights from our latest Investor Letter: • Interest rates…
We thought PYN Elite’s previous Investor Letter on March 15 was so good in content, that now we ended up sending it again – with fresh comments. In addition to the letter, a few essential charts from PYN Elite’s Investor…
Greetings from Vietnam, where I have been for two weeks visiting companies in Ho Chi Minh City and Hanoi. I have spent my days meeting numerous CEOs and evenings working on this Investor Letter. We decided to make it this…
We are still excited about the upside potential for the Vietnamese stock market. Here are the keynotes of our new Investor Letter: PYN Elite has performed well, but the big-cap companies are lagging. Strong earnings growth is expected for the…
In this Investor letter we have few important notes for our positive expectations in the Vietnamese stock market. The earnings growth in the coming years looks very strong and we believe this will be the key driver in the market.…
In this investor letter we are trying to illustrate with few key data series our views of the outlook for Vietnamese stocks and PYN Elite Fund. We hope you will find these charts and tables useful to deepen your understanding,…
My colleagues at PYN recently suggested that I should write a column for an online publication on value investing. This is a topical issue as investors debate the old question of value vs growth. After thinking about it for a…
It is time for the last Investor Letter of the year. Portfolio Manager Petri Deryng has lot of questions to go through, starting from this: Has the surge in prices seen this past autumn pushed Vietnamese stocks too high? “The…