Category: Markets

And so we come to the end of the longest week (so far) in the lives of Messrs Paulson and Bernanke. The collapse of Lehman Brothers, the desperate sale of Merrill Lynch and especially the Fed’s takeover of AIG might suggest that unfettered capitalist roaderism has lost some of its luster. All around the world, […]

Here is the usual sequence of emotions when shares of Anhui Conch (600585.SH), the cement company that we bought with more than half our fund’s RMB10,000 in early June, fall 10% in a single day, as they have done today and yesterday: Shock-> questioning -> frustration -> regret for having bought it -> wondering how […]

We started this week making good on last Friday’s vow to sell our 100 shares of Hubei Guangji Pharmaceutical (000952.SZ). We’d watched the riboflavin producer plummet with that familiar whistling free-fall sound that we first heard after buying into a certain cement company based in central China. We bought Hubei Guangji on July 25 at […]

Well, we almost did it. We were going to sell flailing riboflavin producer Hubei Guangji Pharmaceutical (000952.SZ) after just over a month in which the stock fell nearly 40%. It was either that or Anhui Conch (600585.SH), which is down a bit more than 46%, but lost most of that in June and July. Unfortunately, […]

Here we go again, though not on our own: It’s safe to say that everyone with money in the mainland markets keeps searching for a rebound, but no one seems to find what they’re looking for. We’re quite frankly running out of words to describe the state of the markets – “grim” and “dismal”, which […]