I personally prefer CK Infra. One issue that complicates the CK franchise for me is the cross ownership. How do you think through that problem and opportunity?
Hi, sorry for the delay, I just activated notifications for comments.
I think that it is definitively a problem because sometimes the actions taken could be done more in favour of the other holding, not through straight stealing, but making a disadvantageous deal for CKH.
The entire franchise is attractively priced as are most of the subcomponents. Political overhang from U.S. aggression and Chinese need to control the economy are problematic but sooner or later quality shines through.
Good write up.
I personally prefer CK Infra. One issue that complicates the CK franchise for me is the cross ownership. How do you think through that problem and opportunity?
Hi, sorry for the delay, I just activated notifications for comments.
I think that it is definitively a problem because sometimes the actions taken could be done more in favour of the other holding, not through straight stealing, but making a disadvantageous deal for CKH.
All good.
Fair point.
The entire franchise is attractively priced as are most of the subcomponents. Political overhang from U.S. aggression and Chinese need to control the economy are problematic but sooner or later quality shines through.
Thanks for the additional context.
The story began in 1828, apparently! https://webb-site.com/articles/watson.asp
Thanks for a great write-up. Currently researching CK Hutchison as well.