Ah, happy days. After a disastrous week, the market appears to be rebounding.
To get some exposure to the index and hopefully ride the rebound, we bought 200 shares of China’s biggest bank, (market cap RMB1 trillion right now) ICBC at RMB5.10 a share.
As for our other holding, Anhui Conch, it rode all the way down with the market last week, but has stopped plummeting for now.
We now hold about a third of our capital in cash (any suggestions?) and we’ve lost about 7% of our portfolio value. The index fell 13.9% between June 5, when we opened the fund, and yesterday’s close.
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