Cassandra Unchained

Cassandra Unchained

Hong Kong Stocks: Structure & Strategy, Part 2

Common Stocks & Uncommon Value - Detailed Analysis

Michael Burry's avatar
Michael Burry
Mar 11, 2026
∙ Paid

For the first time, readers will find at the bottom of the normal in-depth, detailed main post a shorter, more compact summary of the main article. This will be the format going forward. While the main post will be the typical 5000-10,000 words with 10-25 visuals, the end-of- post abridged versions/summaries will be held to ~1500 words or less, generally with 1-2 visuals at most. The end-of-post abridged versions are written to the New York Times standard reading level.

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So begins the second post in the Hong Kong Stocks: Structure & Strategy series. I highly recommend reading the first post, VIEs: Vulnerability, Virtue & Value before continuing.

Every one of these companies is superficially understood by many yet truly understood by few, it seems.

Besides VIEs, there is another bug (or feature) common to each of these stocks that must be understood. For this understanding, charts are necessary.

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