Hello Pezz, Today's Report:
Purchased Beijing Capital Land finance.yahoo.com at HKD 1.67/share, HKD 0.01 over the IPO price of 1.66. I figure it is good for:
(a) Inflation hedge
(b) Olympic play
(c) RMB revaluation insurance
(d) IPO gamble
(e) Economic growth wager
(f) Emerging market bet
(g) Maybe even an investment :0)
Shanghai anecdote Time:
A beautifully fitted out (modern appliances, marble, hard wood, under floor heating, large balconies) high floor Shanghai apartment of 1,800 sqft goes for USD 220,000 all-in. Rents for USD 1,200-1,500. Common facilities include health club, pool and underground garage.
A wonderfully cooked Japanese cod fish lunch set, including rice, soap, steamed egg, salad, and one drink served in fancy ambiance goes for USD 7.
Beautiful and tri-lingual (Chinese, Japanese, English) secretary commands a monthly compensation of USD 500 + 30% (by 13 months)
Dual-language capable accountants going for USD 600 + 30% per month (by 13 months).
Network-ready computer + flat screen going for USD 500 per set, and furniture going for USD 200 per station.
Some US/Mexican/HK folks are setting business with USD 150k capitalization to provide backroom accounting services to multinational companies in China and US companies' Japan-based operations, throwing USD 90k compensation accountants out of work.
Awesome storm coming out of Shanghai.
Shanghai will ban construction and bicycles from city center starting 2008, tweaking the infrastructure for the 2010 World Expo coming out party.
Chugs, Jay |
