Jim Grant on David Winters' Asian Plays

In a previous Forbes column, Jim Grant wrote of being invested in David Winters' Wintergreen mutual fund.

Grant's new Forbes piece is again about Winters and some Wintergreen holdings in or benefiting from the Asia story. One company is Swire Pacific in Hong Kong:

"It's family controlled," Winters relates. "It's essentially a Scottish conglomerate that's Hong Kong-based. We think it trades, give or take, at a 35% discount to net asset value. They've been consistent buyers of their own stock. The NAV grows, give or take, 10% to 15% [a year] over time. And they're really not promotional at all. They make no effort to encourage people to be enthusiastic owners of their stock, which we like."

The linked column gives several more of the fund's holdings.