Investors / stance tracking
What Dennis Hong is saying
Founder & CIO, ShawSpring Partners
6 dated public stances tracked since 2020-07-22, most recently 2020-10-21. Each line carries the date and the venue it came from; quotation marks mean verbatim. Methodology.
The stances below are c8alpha's editorial distillation of Dennis Hong's public commentary — television, podcasts, and interviews — compiled by automated transcript analysis and dated to the episode they came from. They may lag the speaker's current view and may contain extraction errors. Text in quotation marks is verbatim from the episode; everything else is our paraphrase. Dennis Hong is not affiliated with c8alpha and has not endorsed this page. Nothing here is investment advice.
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6
tracked stances
5
themes
0
side flips
2020-10-21
last heard
Returns 90d +35.7% (n=5) · 180d +64.0% (n=5) · 1y +93.7% (n=5)
Raw direction-aware returns on public statements — long calls credited when the price rose, shorts when it fell, shorts capped at −100% — in a rising market this mostly measures who was long, not who has skill. Returns run from the stance date; calls are rarely closed publicly, so fixed 90-day / 180-day / 1-year horizons are used. A horizon shows only once it has fully matured, and only at 5+ scored stances.
Most-argued themes
| Theme | Stances | Lean | Mix | Last |
|---|---|---|---|---|
| SE | 2 | 2 bullish | 2020-10-21 | |
| CVNA | 1 | 1 bullish | 2020-07-22 | |
| E-COMMERCE AND DIGITAL DISRUPTOR STOCKS | 1 | 1 bullish | 2020-07-22 | |
| JD | 1 | 1 bullish | 2020-07-22 | |
| SQ | 1 | 1 bullish | 2020-10-21 |
Tracked stances
bullish / bearish is a view they argued; owns / short is a position they said they hold.
2020-10-21
SE
bullish
Dennis Hong · video
Sea Limited's Shopee is the largest near-term value creation opportunity, boosted by two externally-constrained competitors (Tokopedia forced toward profitability by SoftBank, Lazada hamstrung by Hangzhou management), while Sea Money and LatAm expansion…
“the management team at Sea has definitively executed ahead of our expectations”
90d +37.6% · 180d +48.5% · 1y +115.8%
How friendship helps to find the best stocks - Dennis Hong (ShawSpring) & Fred Liu (Hayden Capital)
2020-10-21
SQ
bullish
Dennis Hong · video
Square's ecosystem breadth (payroll, appointments, app store) and hardware reliability far exceed JP Morgan Chase's newly announced card reader, and Square retains the cognitive referent status for new small-business seller acquisition that Chase cannot…
“Square is an incredibly thoughtful, aggressive, constantly iterating on product... I've never known JP Morgan to be necessarily a very innovative company”
90d +27.8% · 180d +38.0% · 1y +49.1%
How friendship helps to find the best stocks - Dennis Hong (ShawSpring) & Fred Liu (Hayden Capital)
2020-07-22
SE
owns
Dennis Hong · video
Sea Limited is an exceptionally high-quality compounder that has earned the largest weighting in the ShawSpring portfolio due to superior intrinsic value growth, and is trimmed back only mechanically when the stock price runs ahead of commensurate intrinsic…
“we've owned sea limited for quite some time and that business has twice hit close to 30 of our portfolio”
90d +45.5% · 180d +102.0% · 1y +156.2%
What makes internet stocks attractive? A talk with Dennis Hong (ShawSpring)
2020-07-22
CVNA
bullish
Dennis Hong · video
Carvana's vertically integrated used-car e-commerce model — controlling procurement, warehousing, logistics, and last-mile delivery — is extraordinarily difficult to replicate and allowed the company to grow unimpeded through COVID shutdowns that crippled…
“if you've figured this business model out and you've gotten careful control over the entire value chain of that customer experience you can be a very good business for a long time”
90d +34.0% · 180d +84.3% · 1y +124.7%
What makes internet stocks attractive? A talk with Dennis Hong (ShawSpring)
2020-07-22
E-COMMERCE AND DIGITAL DISRUPTOR STOCKS
bullish
Dennis Hong · video
COVID lockdowns compressed 10 years of US e-commerce penetration gains into 8 weeks, and clinical psychology suggests 8 weeks of habitual usage ingrain permanent behavior change — meaning revenues and free cash flows previously modeled years out have been…
“these businesses could continue to be quite attractively priced from here on out”
What makes internet stocks attractive? A talk with Dennis Hong (ShawSpring)
2020-07-22
JD
bullish
Dennis Hong · video
JD.com's end-to-end vertical integration in Chinese e-commerce — owning procurement, warehousing, and last-mile delivery — gives it a durable competitive moat that proved resilient during COVID shutdowns while pure-marketplace rivals depending on third-party…
“both jd and carvana were able to grow effectively unimpeded all the way through the crisis”
90d +33.5% · 180d +47.4% · 1y +22.8%
What makes internet stocks attractive? A talk with Dennis Hong (ShawSpring)
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