It’s deja vu all over again

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E-future, a not well known Chinese company, set a record for Chinese stocks traded in the US. Its stock went from $10 to $43 in 4 days. In another words, in 4 days it “accomplished” what Google’s stock accomplished in 2 years: from $100 to $400. It seems like I missed a golden opportunity to get rich fast. But on the serious side, I think there are lots of bubbles involved. I looked at the price of 3 well known Chinese IPO stocks, the New Oriental (EDU), Mindray (MR) and Home Inns (HMIN), they are all trading at about PE 50 (ttm) now. Note HMIN and MR will report tomorrow and Thursday, we’ll see the stock get a reality check after that: if it beats, it will go to the moon; otherwise it will go back to the earth 🙂

I am also looking at the NyMex, New York Mercantile Exchange’s IPO this Friday, should be as hot as today’s Google. I bought NyMex’s competitor, Interconntinental Exchange (ICE), on Nov 17 2005 (and sold it the next day), the ICE has been gone from $38 to $97 in about a year 🙁  

PS, the SEC filing of E-future can be found here.

1 comment

  1. Haven’t really commented on your stock posts a lot because I believe it is an individual choice/philosophy…nothing really to debate about.
    Having said that, I am also a strong believer in value investing not so much in technical analysis..(again, debatable to an extent even within myself). Glad that you embrace Ben G. too.

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