Hong Kong’s renowned stock commentator and founder of the financial website Webb-site, David Webb, held his final public appearance at the Foreign Correspondents’ Club (FCC) in Hong Kong on the 12th. The event, themed “Farewell Fireside Chat with David Webb,” was attended by over 230 people as he shared insights into his investment career and life reflections.
Former legislator Emily Lau was also present to show support, making her first public appearance since being released in the “47 people case” at the end of last month. After Webb finished sharing, Lau approached him for a photo, during which some attendees welcomed her back, to which she responded with a smile.
During the discussion, Webb expressed regret over Hong Kong’s abandonment of the successful laissez-faire economic model of the 1970s to 1990s, criticizing the government for deviating from the principle of small government by allocating resources to ineffective infrastructure rather than public welfare. He noted the current trend towards central planning policies, weakening Hong Kong’s original competitive advantages, and emphasized the need for the retail industry to adapt to the changing consumption patterns brought about by the integration of Hong Kong and mainland China.
Regarding the linked exchange rate system, Webb reiterated its effectiveness, arguing against allowing the Hong Kong dollar to float freely. He pointed out that the mainland has shown no signs of lifting capital controls, underscoring the continued value of the Hong Kong dollar. Webb also spoke out on the issue of CK Hutchison (00001) selling its overseas port assets, criticizing the politicization of the transaction and stressing that it is simply a market-driven action that should not be overinterpreted.
Having moved to Hong Kong from the UK in 1991, Webb has been known for exposing governance issues in listed companies and asking pointed questions to management at shareholder meetings, earning him the nickname “hairy crab of the stock market.” He founded the Webb-site website in 1998, which has been open to the public and industry professionals free of charge for many years.
As his health deteriorates, Webb had previously announced the closure of the website and made the database available to the public. He expressed gratitude to his wife for her years of support and revealed that his son is about to graduate and pursue a doctoral degree. Health permitting, he hopes to travel with his family and cherish the remaining time together.