About

I have worked as an analyst and investor across the world's financial centers — Seoul, Hong Kong, Singapore, London, and New York — through nearly every seat the profession offers: quant analyst at the start, fundamental analyst covering one industry after another, portfolio manager, then hedge fund manager.

I am now the founder and CEO of DTC Global Partners in Seoul, where we take concentrated stakes in a few early-stage companies, build them alongside their founders, and start ventures of our own.

Whatever the mandate, the work kept returning to the same question: how does a company make money, and what drives it? I never found the answer set down in one place — every new industry meant starting from scratch.

That question is what this site is about. Each week I take one company people are watching and answer it in plain language — no hype, no price targets, just the structure underneath. My hope is simple: that it sharpens how you see companies, until a business you have never studied becomes one you can take apart and judge for yourself.

I have also written the book, Earnings Driver: How Companies Make Money, and What Drives It — the same lens worked as a system across 36 industries, from a grain elevator to a stealth fighter.

Heejung Chang, CFA

Educational only — not investment advice.