Hello Pezz, Noon Report:
I am unnerved (well, actually I am enthusiastic) by the shouts across the Atlantic and the Pacific for Trade War, Currency Mayhem, and I am frightened (ok, OK, I am again enthusiastic) by the relentless rise of gold and the dawn of renewed equity weakness.
I purchased:
(a) One dollop of Chow Sang Sang finance.yahoo.com at HKD 2.225/shr,
(b) One dollop of Luk Fook finance.yahoo.com at HKD 1.30/shr, and
(c) Four dollops of paper gold at HKD 3,693/tael.
Chow Sang Sang and Luk Fook are jewelry chain stores in Hong Kong, selling gold, platinum, silver, gemstones, and finished jewelry. Notice they are at mid-way point of their 52-week high/low, sport attractive dividend yields, and should benefit from the expected flood of mainland tourists bringing with them the certain deluge of RMB cash. Both chains accept RMB currency.
Recent changes in rules and policies will apparently enable mainland tourists from many parts of China to visit Hong Kong without being part of any tour group, and they will be able to bring their RMB with them. Further rules changes will allow the use of RMB-denominated credit cards in Hong KOng, and perhaps allow certain mainland institutional investors to invest in the HK stock exchange.
On the paper gold purchase, I am merely augmenting my already substantial non-USD currency and contra-asset troops during this critical moment when the defender’s citadel moat is crossed, walls scaled, and gate about to be burst open, so as to be better position for the looting that will soon be.
I will be looking for ACF Mike's pile of goodies, but will make sure I kick over Maurice's QCOM sandbox as well :0)
Chugs, Jay |
