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Webb-site.com was established in 1998 by David M. Webb, a former investment banker who has lived in Hong Kong since 1991. We provide an independent commentary on corporate and economic governance, business, finance, investment and regulatory affairs in Hong Kong. Webb-site.com is run on a not-for-profit basis.
Investment banks and brokers are often conflicted from saying what they really think, because their comments would be negative to the companies or government concerned. This is not unique to Asia, it is an industry-wide problem.
These firms get a lot of new issue and advisory business from corporate clients, and they also risk being shut off from information flow if their analysts are too negative on a company. Some analysts have even been fired for negative coverage of a company or government. If a firm offends a government, they are likely to lose future mandates for advising on things like bank restructuring or privatisations, and can even find difficulties with licensing and operating their business.
At Webb-site.com, we don't have these hang-ups. We provide this site as a "pro bono" service to the community. We tell it the way we see it. Our goals are:
Our only potential conflict in what we say is that from time to time we may own long or short positions in securities issued by companies or governments on which we comment. That's unavoidable - we've got to put our money somewhere.
David M. Webb is a retired investment banker. He spent 12 years in the field, the first 5 in London before moving to Hong Kong in 1991. He was a Corporate Finance Director of BZW Asia Limited, conducting equity issues and advisory mandates throughout Asia until 1994, when he became in-house adviser to Wheelock, a local listed conglomerate. He retired in 1998 and now divides his time between non-profit governance advocacy, including Webb-site.com, and researching the Hong Kong market, particularly smaller companies. His public roles include:
Past roles include:
Mr Webb graduated in mathematics from Exeter College, Oxford University in 1986 and prior to that was a computer geek, authoring "Supercharge Your Spectrum" (1983) and "Advanced Spectrum Machine Language" (1984), both books on the subject of machine language programming for the Z-80 based Sinclair Spectrum computer. He also wrote a number of best-selling games for the Sinclair Spectrum, Amstrad CPC and Commodore 64, which were in the first generation of 8-bit home computers.
His HKID number is P135143(9).
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No. As a matter of policy, we believe there is no merit in licensing other web sites to carry our material when they can easily hyperlink their viewers to Webb-site.com. However, to facilitate such links, you are granted a license to include in your site the summary text from the grey box at the head of each article, subject to the following terms and conditions:
Important notice: All material on this site, except where otherwise accredited, is copyright to Webb-site.com. Media and researchers are welcome to quote from articles on this site, provided that such quotation is attributed to Webb-site.com. The information in this site should not be relied upon by any person in making any investment decision. No responsibility or liability is accepted by Webb-site.com or any person related to it for any loss arising from or in reliance upon the whole or any part of the contents of this site. Persons who are in any doubt about an investment or potential investment should take professional investment advice. From time to time parties associated with Webb-site.com may own long or short positions in securities issued by or related to companies or governments on which we comment.