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Quarterly Reports

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Protected: Heyokha Brothers-Investment Report-2Q 2017

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heyokha-brothers-investment-report-1Q-2017-general(2)

Heyokha Brothers-Investment Report-1Q 2017

“Successful investing takes time, discipline and patience. No matter how great the talent or effort, some things just take time: You can’t produce a baby in one month by getting nine women pregnant.”

-Warren Buffett-

“Wait for that wisest of all counsellors, Time.”

-Pericles-

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heyokha-brothers-investment-report-4Q-2016-general

Heyokha Brothers-Investment Report-4Q 2016

“When you close your eyes at night, what is important? You’ve spent the day taking risks. You’ve made some people very happy. Each day, that’s my challenge.”
-Alain Passard, chef and owner of three star Michelin restaurant L’Arpège-

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Heyokha-brothers-Investment-Report-3Q-2016-general

Heyokha Brothers-Investment Report-3Q 2016

“What you wanna do is follow the EAC, that’s the East Australian Current. Big current, can’t miss it.”
-Finding Nemo-

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Heyokha-Brothers-Investment-Report-2Q-2016-General

Heyokha Brothers-Investment Report-2Q 2016

“Facts do not cease to exist because they are ignored.”
-Aldous Huxley-

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Heyokha-Brothers-Investment-Report-1Q-2016-General

Heyokha Brothers-Investment Report-1Q 2016

“How much more grievous are the consequences of our anger than the acts which arouse it.”
-Marcus Aurelius-

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Heyokha-Brothers-Investment-Report-4Q-2015-General

Heyokha Brothers-Investment Report-4Q 2015

“It’s not possible.” — Case

“No, it’s necessary.” — Cooper

-Interstellar-

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Heyokha-Brothers-Investment-Report-3Q-2015-General

Heyokha Brothers-Investment Report-3Q 2015

” What motivates [radical groups] and the millions who support them? The answer, many
believe, is stories – about injustice, outrages, ancestors, coreligionists, nonbelievers, stories from
the past and present.”

– Geoff Colvin –

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Heyokha-Brothers-Investment-Report-2Q-2015-General

Heyokha Brothers-Investment Report-2Q 2015

“You must be shapeless, formless, like water. When you pour water in a cup, it becomes the cup.
When you pour water in a bottle, it becomes the bottle. When you pour water in a teapot, it
becomes the teapot.Water can drip and it can crash. Become like water my friend.”

– Bruce Lee –

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Heyokha-Brothers-Investment-Report-1Q-2015-General

Heyokha Brothers-Investment Report-1Q 2015

“Just because you love the mountains doesn’t mean the mountains love you”
– Lou Whittaker
“Mountains are not conquered: they simply do or do not allow us to climb them”
– Ed Viesturs

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About Quartely Reports

The reports published on this page cover what we have learned in that period. The reports are written to clarify our thought process to investors in our funds, but they may be of interest to anybody else who is interested in ASEAN markets and the Indonesian market in particular.

The latest report is always password protected and exclusively available for our investors. Yet, the older reports are available to anyone.