How friendship helps to find the best stocks – Dennis Hong & Fred Liu

In this livestream Fred Liu (Hayden Capital) and Dennis Hong (ShawSpring) answered many questions from our audience. Here you can find the transcript:

We discussed the following:
1:03 Their single biggest challenge currently
7:59 Dennis’ and Fred’s relationship
12:42 Their difference
16:25 Investors they admire
21:30 Where they would start a business
26:47 Books they like
30:52 Cash
36:51 The current strength of internet businesses
41:58 Riding rockets like Sea Limited
48:42 Evaluating management
55:58 Square & Sea
59:47 Square & JP Morgan
1:01:00 Sea’s gaming arm
1:08:05 Fair multiples for a company
1:21:24 What they might do after investing
1:29:12 A message to young investors

If you, or someone you know, is currently in the process of starting a fund or has recently launched, they welcome you to reach out at . And you can discover more on their website,

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Tilman is a very enthusiastic, long-term investor. Over the last years he has taught himself important investing concepts autodidactically. He tries to combine a positive climate and environmental impact with his investments.
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