I was on shopping spree on stocks lately. Since I bought the Panera Bread (PNRA) last Friday, this Monday I boughtÂ some Telestone (TSTC), a Chinese wireless equipment maker;Â on TuesdayÂ I boughtÂ some Ninetowns (NINE), a China basedÂ software company not new to me because I lost money on it in the pastÂ 🙁
These are two speculative plays. Telestone recently moved from Amex to Nasdaq, and it is posed toÂ benifit from the 3G services adoption and Olympics in China. Ninetowns’ software business is stablizing afterÂ one year and half’s transition period; it also is building up B2BÂ services through tootoo.com and globalmarkets aquisition.
I only took a small position on these two as they are a bit speculative right now. As you may see from their stock prices (about $9 for TSTC, and about $5 for NINE).Â IÂ am going to hold themÂ for longer time. I was reading Philip Fisher’s “Uncommon Profits in Common Stocks”, one thing amazed me is PhilÂ will hold a stockÂ as long as its fundamentals are good. I guess great investors like Buffett and Fisher all have great patience :-)Â