Markets

Insider Trading

Hedge Funds

Retirement

Opinion

Will Alibaba (BABA) be Able to Build a Defensible Moat, Leveraging Multiple Consumption Scenarios?

JB Global Capital, an investment management company, released its third-quarter 2025 investor letter. A copy of the same can be downloaded here. The fund gained 38.4% in the third quarter, reaching a new all-time high at quarter-end. Since the inception on January 3, 2023, the fund has returned 76.4%. It has significantly outperformed its benchmark for the quarter, year-to-date, and—most importantly—since its launch. The strong outperformance was largely a result of its decision to heavily overweight Chinese equities throughout 2023 and 2024. In addition, please check the fund’s top...