Tiger Woman on Wall Stree (33 page)

Apple,
206
,
217
-218,
252
,
254

Art class, Middlebury College,
65
-67

The Art of War
(Sun Tzu),
87

Art Through the Ages
(Helen Gardner),
65

Asset management,
70
-72

Audrey (niece),
239
,
248

Aurarian Capital Management,
3
,
74
-110

communication at,
74
-75

education on short selling at,
80
-83

effects of financial crisis on,
106
-110

first interview at,
13
-16

first trip to China as an investor for,
98
-106

investigative research methods of,
74
-80

investments in Chinese companies at,
94
-98

research with “Andrew” for,
89
-92

sacrifices for work at,
92
-94

shorting of clean-tech stock at,
83
-88

Avian flu,
217

Baidu,
96
,
118
-119,
176
-181,
256

Bank of America,
225
,
236

Banking industry:

American,
70

investing in Chinese,
222
-225,
252
-253

shadow banking in,
230
-236

Battle Hymn of the Tiger Mother
(Amy Chua),
241

Bear Stearns,
197

Behavior of students,
27
-29,
54
-55

Beijing, China,
221
-222

Beijing Olympic Games (2008),
241

Beliefs, shared,
148
-149

Benton, Dan,
14

Berkshire Hathaway,
126
,
186

Best Buy,
89
-92,
252

Block, Carson,
128
,
165
-166,
202
,
204

Blockbuster Entertainment,
126

Boards of directors, independence of,
176

Bottom-up stock selection,
184

“Brian” (portfolio manager friend),
115
-116,
129

Bubbles, market,
3
-4,
107
-108,
236

Buddhism,
134
,
147

Buffett, Warren,
185
-187

A Bull in China
(Jim Rogers),
181
-182

Bullet train crash,
152
-153

Business practices,
43
,
95

BYD,
186
-187

Camelot Information Systems,
174

Capitalism,
62
-63

Catching falling knives,
197

Caterpillar,
173
-174

Catherine (SISU classmate),
52

CCTV (
see
China Central Television)

CFOs, IPO,
122

Channel checks,
89

Channel stuffing,
86
-87,
129

Chanos, Jim,
236

Charles River,
197

Cheating,
28
-29,
55
-59,
242
-243

Chengyang Wei,
234
-235

Childhood,
1
-2,
23
-33

education during,
26
-29

and effects of parenting,
7
-8

father’s involvement in,
29
-33

father’s parenting style,
9
-11

home and neighborhood,
24
-26

living standard during,
23
-24

China Central Television (CCTV),
45
,
177
-180,
217
-218

China Construction Bank,
235

“China Little Fertilizer” (“CLF”),
120
-124,
164
-165

fraud and,
164
-170

global enthusiasm for,
3
-5

instant alphas from,
117
-120

Internet companies,
176
-181

at IPO road show,
113
-117

and multinational corporations,
170
-176

and quality/quantity of economic growth,
163
-164

Shanghai research trip on,
124
-131

top-down approach for,
181
-187

trading vs. investing mindset,
187
-190

China Media Express,
167

China Youth Study,
242

China-based investments,
163
-190

Chinese companies:

goals of,
105

investments in,
94
-98

research on,
116

valuation of,
121
-122,
186
-190,
258

Chinese culture,
145
-161

corner-cutting in,
152
-153

corruption in,
154
-160

crisis of confidence and,
160
-161

and demand for luxury goods,
156
-160

ethics in,
147
-148

lack of faith in domestic products in,
149
-152

religion and morality in,
145
-147

shared beliefs and social trust in,
148
-149

Chinese economy,
221
-246

American economy vs.,
5
-6,
105

banking industry in,
222
-225

domestic consumption and investment in,
227

and education system,
236
-244

effects of financial crisis in,
109
-110

future of,
245
-246

and global economic recovery,
4

local government expenditures in,
225
-226

nature of economic activity,
104
-106

shadow banking in,
230
-236

SOEs vs. SMEs in,
227
-229

wealth management products in,
232
-236

Chinese legal system,
44
-45,
175

Chinese stock,
3
-5

in banks,
235
-236

investigative research on,
196
-204

investment tips,
255
-258

investors’ knowledge about,
118
-120

at IPO road show,
113
-117

retail,
123
-124,
204

Chua, Amy,
241

Cinderella,
teaching of,
238

Citic Trust Co,
235

Citigroup,
254

Citron,
167

Classroom environment,
27
,
55

“CLF” (“China Little Fertilizer”),
120
-124,
164
-165

Clinton, Bill,
47

Cohen, Steve,
14

Collaboration,
241

Columbia Business School,
3
,
72
-74

Commercial banks,
222
-223

Commodity companies,
101

Communist Party of China,
6
,
23
,
28
,
41
,
46
,
129
,
145

Communist Youth League’s Young Pioneers,
25

Compagnie Financière Richemont SA,
156
,
158
-159

Companies:

Chinese (
see
Chinese companies)

and good stocks vs. good companies,
82
-83,
254
-255

Competition,
101
,
237
,
242

Competitiveness,
52

Competitors, investigative research involving,
85

Consumer confidence crisis,
150
,
160
-161

Consumer products, research on,
252

Consumerism,
39
,
133
-136

Consumption, domestic,
227

Corner-cutting,
135
-136,
152
-153

Corporate governance,
172
-176

Corruption,
154
-160

Corruption rent,
227

Country Style Cooking,
208

“Covering a short,”
81

Creativity,
40
,
41
,
236
,
239

Credit,
106
,
108
,
228
,
229
(
See also
shadow banking)

Credit Suisse First Boston,
2
-3,
69
-70,
109

Ctrip.com International,
96
,
184
,
185

Cultural Revolution,
1
,
17
-21,
39
,
60
-61

Dacheng,
211

Danone,
210

Deloitte Touche Tohmatsu,
167

Demand for luxury goods,
156
-160

Demand response companies,
84

Deng Xiaoping,
21
,
23
,
29
,
37
,
41
,
98
,
140
,
145
,
225

Deutsche Bank,
167

Diminishing marginal utility,
63

Dimon, Jamie,
176

Dishonesty,
242
-244

Distributors, investigative research involving,
85
-86

Dodd-Frank banking regulations,
109

Doing your homework,
6
-7,
258
-259

Domestic consumption,
227

Domestic products, lack of faith in,
149
-152

Down to the Countryside Movement,
18
,
19

Due diligence,
168
-169

Earnings estimates,
255

Economic correction,
219
-220

Economic growth:

and consumerism,
133
-136

and future of Chinese economy,
245
-246

and mid-cycle analysis,
189
-190

quality and quantity of,
163
-164

Economic stimulus plan, Chinese,
154
-156,
170
-171,
223
-224

Economics classes,
62
-64

Education,
236
-244

during childhood,
26
-29

in China vs. America,
53
-54,
238
-241

at Columbia Business School,
3
,
72
-74

in Cultural Revolution,
18

father’s role in,
9
-10,
26
-27,
31
,
47

idea- vs. knowledge-based,
2
,
240

at Middlebury College,
2
,
53
-67

at SISU,
48
-51

Education sector, investments in,
197
-201

Efficient market hypothesis,
251

Einhorn, David,
97

Elicitation techniques,
75
-76

eLong,
184
-185

English, learning,
47
-52,
56

English First,
115

Enron,
176

ERA Mining Machinery Ltd.,
173

“Ernie” (“Sunlight Systems” competitor),
85

Ernst & Young,
164

Ethics:

in Chinese culture,
147
-148

honor code at Middlebury College,
54
-59

universal code of,
2

European Union, bank bailouts in,
225

Everbright Bank,
233

Executives, grading of,
214

Expedia,
184

Failure,
15

Fan Min,
185

Father:

and author’s education,
9
-10,
26
-27,
31
,
47
,
240

on blind belief,
20
-21

Cultural Revolution and experiences of,
17
-21,
61

current life of,
247

encouragement from,
110
-111

factory job of,
29
-30

interest in American news and culture,
46
-48

involvement in author’s childhood,
29
-33

job and wages of,
24

parenting style of,
2
,
9
-11,
26
-27

SISU visit with,
51

vacation in Thailand with,
139
-144

viewing
Gone with the Wind
with,
35
-37

Fiduciary Trust Company International (Franklin Templeton Fiduciary),
3
,
70
-72

Financial crisis (2007-2009),
106
-110

Financial industry, Shanghai,
125
-131

Financial markets:

bubbles in,
3
-4,
107
-108,
236

first interest in,
45
-46

inefficiency in,
194
-195,
251
-254

Financial reports, fabricated,
175
-176

First Solar,
197

Fitch,
233

“Five-bagger,”
118

Food safety,
149
-152,
206
-211,
216

Foreign brands,
135
,
210

45-day chicken scare,
206
-211

Franklin Templeton Fiduciary (
see
Fiduciary Trust Company International)

Fraud:

at “China Little Fertilizer,”
164
-165

and Chinese IPOs,
129
-131

investigations of,
165
-170

and M&As with multinational corporations,
170
-176

and reverse mergers,
127
-128

Frauds (short sale candidates),
83

Freedom:

in American education system,
53
-54,
59
,
243