Longriver Podcast

I spoke with Dan Rupp , founder and CIO of Parkway Capital , about what it means to leave a respected institution, launch a fund in the teeth of an Asian bear market, and build an investment business from scratch. Dan launched Parkway in 2024, when sentiment in Hong Kong and across much of Asia was still deeply depressed, but he was unusually confident that the opportunity set was improving. That...

I spoke with Michael McGaughy, founder and CIO of Research Alpha, about what it means to invest where crisis, illiquidity, and institutional abandonment have driven valuations to generational lows. This was a timely chance to catch up on Michael’s thinking, how his portfolio has evolved, and what the last few years have taught him about investing through dislocation. Michael explains that his proc...

I spoke with Brian Mushonga and Will Thrower, two members of the three-person team at Caledon Investment Partners, about a recent memo they published titled ‘Hyperscaler Capex is Hitting Its Physical Limits’. This is the fourth time I’ve had Brian and Will on the podcast, and the memo was a great excuse to catch up on their thinking and to hear where they’re spending time. Their core argument is t...

I spoke with Enrique Becerra (aka @pandwatch88 ) about a presentation he recently published, titled “A Hitchhiker’s Guide to the China Stock Galaxy: 2026-2030” . It is a lighthearted but serious attempt to cut through the noise that surrounds China and to bring some practical structure to the question every allocator eventually faces: how do you size China, if at all, when the risks are real but t...

I spoke with Jevgenijs Kazanins about Wise plc, exploring his thesis that Wise has built the modern version of Citi: a global platform capable of serving customers locally, through a single sign-up, no matter where they are in the world. Actually, we spent a long time discussing my concerns about the company before I finally grasped what he was saying! Jev's Substack PopularFintech is a great...

I received great feedback for a podcast I recorded with my wife Lizzie in 2022 as I was setting up this company. To mark Longriver’s third anniversary, she kindly agreed to interview me again. We cover what I've learned as an entrepreneur, my investment process, what makes Longriver different and how exciting it is when fellow investors and business analysts reach out. I hope you enjoy our con...

I spoke with analyst TP Huang about BYD, exploring his writing and analysis of the company, electrification and China's new industrial revolution. If you are interested in these topics, I highly recommend you read TP's Substack. He excels in explaining the engineering and technical aspects which make electrification and BYD's rapid progress possible. TP also posts regularly on X (@tphu...

I spoke with Eric Markowitz , Partner and Director of Research at Nightview Capital , about an essay he published this year titled, “How a brush with death shaped my long game” ( link ). We dive straight into the details of a health crisis which shook Eric’s world in early 2023 ( link ) and then have an open-ended conversation about what he’s taken from it as a husband, father, friend and investor...

I spoke with Brian Mushonga and James Hull , co-Founders of the Caledon Energy Transition Fund, about their backgrounds, their partnership and their investment strategy. We used Vertiv Holdings as a case study, touching on its history and development into one of the world’s leading power and thermal management suppliers to the data centre; its Chairman and his track record at Honeywell; its sales...

I spoke with Daye Deng (邓达业) , author of the East Asia Stock Insights substack, about the Chinese sportswear industry and two of its leading players, Anta and Li Ning. We began with Daye's background as a Chinese person growing up in Japan and then Canada; his career as a buyside investor; and why he's now devoting his time to companies in East Asia. We then discussed the trends driving...

My guest is Jesus Rodriguez , author of the Dungeon Investing substack, where he writes about miniatures, video games, tabletop games, comics, RPGs and investing. In this conversation, we discuss Games Workshop, owner, designer and manufacturer of the Warhammer and Warhammer 40K range of miniatures. Jesús walks us through the company's rise-fall-and-rebirth to explain how its history shaped it...

My guest is Ali Gündüz , a private investor from Berlin who closely follows Evolution AB, the Swedish B2B gambling services company. In this conversation, we discuss what we perceive as Evolution's key issues, including increasing competition; its dependence on Asian markets to sustain its growth; the slow roll-out of game shows in the US; its difficulties in RNG; and its need for a more consi...

My guest is Ethan Robertson, host of Wheelsboy , the leading English-language automotive reviewer in China, about China's Cambrian Explosion of New Energy Vehicle manufacturers, their intense competition for relevance, and how they stack up against Western and Japanese firms, including Tesla. Wheelsboy produces the best car reviews I’ve ever watched and if you like this interview, you must che...

My guest is Shreekkanth Viswanathan ("Shree") , Founder and Portfolio Manager of SVN Capital , a Chicago, USA-based investment manager. In this conversation, we briefly cover Shree's background, how spirituality helps him keep his ego in check and the importance of serendipity, before diving into a discussion of Kinsale Capital, one of his portfolio holdings. Longriver Investment Par...

My guest is Wayne Jones , co-Founder and Portfolio Manager of the Ganes Focused Value Fund , a Brisbane, Australia, based investment manager. In this conversation, we cover how Wayne has built his eclectic circle of competence over time; and then dive into the challenges facing Domino's Pizza Enterprises, one of his long-term holdings. Longriver Investment Partners Limited (“Longriver”) is lic...

Following the publication of the sixth edition of Pillar Legal 's primer on the regulation of China's gaming industry , I spoke with Charles Yu (俞超) , a partner at the firm and head of its Shanghai office.  Our conversation put 2021's regulatory campaign into the broader context of the Chinese government's struggle to combat gaming addiction; the "murky" process for new games to be licensed...

I spoke with Rob Sheridan , Founder of Uluwatu Limited , a Hong Kong based investment manager about how he's using his experience working at Global Endowment Management and Ward Ferry to identify the companies which will matter the most in Asia over the coming decades. We talked about Rob's career and road to Hong Kong; how he developed his investment process; the importance in long term investing...

My guest today is Dr. Daan Steenkamp , CEO of startup Codera Analytics and formerly Lead Economist and Head of the Research Unit at the South African Reserve Bank.  We tackle two big topics: 1) the difference between demand- and supply-side shocks to the economy; why central banks were slow to recognise inflation; and what it may take to re-anchor inflation expectations; and 2) how Codera is...

This time it's my turn in the hot seat!  My wife Lizzie suggested she interview me for some early thoughts on Longriver, and to let me introduce myself and what I'm building. We cover what you'll find on my CV and what you won't; how I came to investing; my strategy, 'Global Value Investing, from Asia'; as well as some of the early design choices I've made building a business and an investmen...

Will Thrower is back for a second interview.  We cover how his research into Tesla took him to China's renewable energy industry; how China has emerged as the critical link in the world's transition to renewable energy; and how Longi Green Energy Technology epitomises the strength of vertically integrated business models.  If you like what you hear, you can read Will's new substack ' The...

My guest today is Michael McGaughy , Founder and Portfolio Manager of Research Alpha, a specialist fund which invests in the equity of unloved and out-of-favor quality companies in some of the world’s least expensive stock markets, like Uzbekistan, Argentina and Nigeria. In this conversation, we cover how Michael finds safety investing in financial crises; how his experience researching family-con...

My guests today are Ross Cameron and Cameron Robson of Northcape Capital's Global Emerging Markets team . In this conversation, we cover the investing case for emerging markets; Northcape's unique corporate and portfolio management structures; Northcape's bespoke country discount rates; and then bring it all together with a case study of Techtronic Industries.  If you like what you hear, plea...

My guest today is Will Thrower , founder of Dumile Capital . In this conversation, we cover what Will is building at Dumile; how his experience with AMD took him from deep value to growth; and his thoughts on valuing Tesla, the second of two investments currently in his portfolio.    Longriver Investment Partners Limited (“Longriver”) is licensed with the Securities and Futures Commissio...

My guest today is Richard Lawrence , Executive Chairman of Overlook Investments Limited, an independent fund management company he founded in 1991 to invest in public equity markets throughout Asia, excluding Japan. In this conversation, we discuss Richard's new book, "The Model" , which explores two important questions: how did Overlook achieve its success; and how can Overlook best ensure future...

My guest today is Aileen Chang , a fellow member of ValueAsia and Founder & CIO of Tashi Capital , a Hong Kong-based investment manager which specialises in China and South Korea.  Tashi is driven by deep, proprietary research and manages a highly concentrated portfolio with an investment horizon of over 5 years. In this conversation, we cover Aileen's early experiences as a hedge fund an...