Inauspicious omens for our fund on Olympic opening day. Our initial RMB10,000 investment is now hovering around the 7,000 mark, tethered as it is to the sinking stone of Anhui Conch and the anemic Guangji Pharmaceutical. Anhui has now lost nearly half its value since we scooped it up in early June, and riboflavin producer […]
Category: Markets
The week started off well enough for the fund, but as of noon on Friday, things are once again looking grim. Our purchase last week of Hubei Guangji Pharmaceutical (000952.SZ) nicely encapsulates the kind of volatility we’ve been dealing with. A brief rally on Monday saw it rise 2% from the RMB17.00 we paid for […]
Call us impatient, but we’ve got a new riboflavin-of-the-month. And no, it’s not that Riboflavin. Yesterday we bought 100 shares of Hubei Guangji Pharmaceutical at 17.00, our first foray into the Shenzhen market. Guangji is the world’s largest riboflavin supplier by production capacity, with a 90% market share in China, itself one-third of the global […]
Another rough week-and-a-bit for the Capitalist Roader Fund, but we’re still not taking any action other than biting our fingernails. Anhui Conch (600585.SH), once hoped to be the foundation of the fund, has been acting more like a pair of cement shoes: it’s now down more than 31% since June 3. We still believe in […]
When you see us Capitalist Roaders rubbing our eyes in disbelief when looking over our portfolio, it’s usually a bad sign. But yesterday, it was eye-rubbing of a different sort. Anhui Conch (600585.SH) the anchor (in more than one sense) of our fund had its best day for us ever, gaining 7.12%, while ICBC (601398.SH) […]
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