Category: Stocks

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Stocks

Starbucks Continues the Slide

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Reuters has an excellent article on this. I don’t need to say anything more. Yes I will buy more Starbucks if it hits 27.

Separately, I started the trial offer of Netflix, the online DVD (movie) rental service. It’s very easy to use, and one important feature I notice is: they will always send a new movie (according to viewer interest, the moive queue) once the user returns the old one. Sounds like they are trying to get the user addicted to the movie?

Seriously I think the coffee and movie are in the business of “cheer people up”.  

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Stocks

Markets Mindray openIPO etc.

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Today is Tuesday May 15, the Chinese market had a huge sell down today. I don’t know the reason (sometimes the market doen’t need any reason to go down or up). But I think it’s a healthy thing for the China market has some down days in addition to the up days. Good “market risk” education for the new comers.

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China Stocks

Mixed Bag from Mindray First Quarter

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This is the report. From the Conference call, it appears they made a mistake on the announcement, I believe there was a typo on the first bullet (should be 40% rather than 24.7% YoY if exclude the large bid in 2006)

My comments on the results:  

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China Stocks

Chinese Citizen Can Buy Oversea ADRs

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(Update) Here is a Chinese article explains more details. The minimum balance is RMB 300,000 to open an account inside China. Other restrictions apply.

(Original) I was wondering why the Chinese ADRs all rose today. Although I heard the China central bank is allowing domestic bank buy oversea stocks through QDII. This MarketWatch article connected the dots for me. I think this is a small way the goverment tries to divert some money from the red hot domestic stock market, especially the B shares market.

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Stocks

Mindray, Home Inns to Report Earnings

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Mindray (meeting announcement): 8:00 PM on May 14, 2007 U.S. Eastern Time (8:00 AM on May 15, 2007 Beijing/Hong Kong Time). Dial-in details for the earnings conference call are as follows:

     Hong Kong:     +852-3002-1672
     US Toll Free:  +1-866-271-6130
     International: +1-617-213-8894
     Passcode for all regions: Mindray

Home Inns (meeting announcement): 9 PM on May 21st, 2007 U.S. Eastern Standard Time (9 AM on May 22nd, 2007 Beijing/Hong Kong time). Dial-in details for the earnings conference call are as follows:

     China Mainland (toll free):  10.800.130.0399
     Hong Kong:                   +852.3002.1672
     U.S. and International:      +1.617.213.8893

     Pass code for all regions:   HOME INNS

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Stocks

Diversify or Diworsify?

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I think for small investors like me, one common mistake is “diversify”. Wait, isn’t “diversify” the first lesson we are taught to reduce risk? Yes, but as Peter Lynch said, “diversify” could mean “diworsify” too.

For example, I have 6 stocks in my portfolio now: CROX, HMIN, MR, GSIT, NINE and SBUX. Some are winners (CROX), some are losers (NINE). Had I hold all in CROX, my return would be much better. Of course you would say I had more risk too.

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China Stocks

The Chinese Bubble

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The bubble is continuing to build up. This afternoon I received a call from people try to selling me stocks “We are an investment company. Have you heard about the stocks lately?” Anyone who has not heard stocks must live in the vaccum or Tibet. Stocks are talked in every gathering. I heard people become restless during the 7 days break because the market was closed. The No. 1 the question is: when will the market correct?

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Business Stocks

Why Companies Go Public?

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This is a too big question. But I have thought this thing for quite a while, and want to share my thoughts. A few weeks ago I was watching the “Boss Town” program at China-CBN, the host posed this exact question to the founder of Qiao Xing (Nasdaq: XING), Mr. Wu Ruiling: why do you go to Nasdaq considering the overhead of compliance (Sarbane-Oxly etc.)?

Fair question. Mr. Wu shared one reason: when a company grows to a certain stage, it’s better to have more than one boss (owner): other minority owners can contribute to the development of the company.

I think besides “better corporate governance/management”, there are at least two reasons: 1) To raise the money (capital), 2) To raise the company profile. These two reasons fit well with the recent Chinese IPOs in last Fall: New Oriental (EDU), Home Inns (HMIN), and Mindray (MR). Let’s explain one by one.

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China Stocks

Ticker Symbol of Chinese Banks

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Symbol  Name     Price (Apr 26)   Earning (2006)

600000 浦发银行 28.28              0.77

600015 华夏银行 13.29            0.35

600016 MingShen 13.27        0.38

600036 CMB      20.04           0.48

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China Stocks

China Citic Bank Debuts

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Like Baidu, if you look at 601998 (its ticker symbol) at Sina Finance. For english readers, read Bloomberg news here. BTW, 1998 is a good number in Chinese. Citic Bank (中信银行) IPO was priced at 5.80 Yuan, and people expected it to open between 7 and 8, based on PE and PB (price book) ratio of other Chinese banks. But it went up as high as 12 this morning (Apr 27 Shanghai). This is much higher than the H share traded in HK (0998). Based on 2006 earning of 0.12 Yuan, the PE is about 100.

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