For readers who who are not subscribed to my YouTube channel or who simply prefer reading blogs to watching videos, this is the transcript of another recent video I produced. ------------ I first invested in Old Chang Kee in 2011. At the time, I said that Old Chang Kee's food kiosks were ubiquitous and always seemed to be doing good business. I also thought that the business was relatively recession proof. It was very much like property developers selling shoe box apartments. The smaller monetary quantum makes them more affordable. I did not think that, in a recession, we would see people cutting back on their favourite curry puffs, sotong sticks or yam cakes in a big way. Old Chang Kee could increase their prices by 10 cents per item and it would not feel like much to the consumers. However, it would improve their top line and bottom line immensely in percentage terms.