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Hi, and welcome to the Longview. I'm Jeff Patak, Chief Ratings Officer for Morningstar Research

Services. And I'm Christine Ben's Director of Personal Finance and Retirement Planning for Morningstar.

Our guest this week is Martin Lau. This is Martin's second appearance in the Longview,

his first being in August 2021. Martin is a managing partner of FSS Investment Man managers, part of First Centaur investors.

He's been at the firm since 2002 and is the lead fund manager of various FSSA strategies,

including the FSS Asian Equity Plus Fund, the FSS China Growth Fund, and the FSSA Hong Kong growth fund.

Martin has been in the investment business for nearly three decades, and it's based in Hong Kong.

Here, a Bachelor of Arts degree from Cambridge University, a master's degree in engineering from Cambridge, and is a CFA charter holder.

Martin, welcome back to the Longview.

Thank you, Jeff. Oh, thank you. We really appreciate your time and are looking forward to this conversation. When we spoke to you

back in August 2021, you were optimistic about Chinese stocks, yet they performed poorly since then

losing some ground. In your opinion, what's gone wrong since we last spoke to you?

Yes. Thank you, Jeff, for the question.

And thank you for having me today.

Yeah, that's a very good question to start.

I mean, I recall when we had a conversation in 2021,

...