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China Stocks

07 First Quarter Review

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The first quarter is behind us. Just like a public company reporting quarterly results and holding conference call, I am going to do a quick review of my little portfolio. This quarter is a quite rollercoaster for me, as it did for many investors. The Jan and Feb started fairly strong and at one time I had more than 10% gain (I used google finance to track my investments). This is until Feb 27. In one day I lost all my 10% gain because of the loss of my Chinese ADRs (HMIN and MR each lost more than 10%).

I did some adjustments in response: bought more MR on Feb 27 (pull the trigger too early again?), sold HMIN on Feb 28 at rebound, sold some CROX at 49.xx and bought some more back at 45.xx, bought some HLYS at 28.47 a few days ago. I also made mistake getting XFML at IPO; and I bought some GSIT after its unpopular IPO.

The results? While I can not predict the future, currently my return is about 2.58% according to Google Finance (strictly speaking, the result if from Nov 24, 2006 to April 4, 2007).  

Interestingly I also read about the performance of Chinese mutual funds during Q1 2007. Not surprisingly most did not outperform the index. In other words, the Chinese investors would be better off buying the index fund (if there is such as thing), than buying the mutual funds (do you know they lined up at securities outlets like people lined up for the PS3 in the US?). Maybe we can start an index fund and persuade people to buy it 🙂  

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