Hello Pezz, Operation secret code “____” Report #5:
(1) I completed the acquisition program that started so Message 22541099 , accumulating a substantive position in this Modern Beauty modernbeautysalon.com at average price of HKD 1.07 finance.yahoo.com
The company runs beauty spas, mostly in HK, but also starting in China (Shanghai). Its business model starts with the sale of ‘use-it-or-lose-it’ 2-year coupons to ladies (now also targeting men), offering efficient, consistent, and value services (beauty treatment, massage, etc) in a posh environment, hopefully desired by the stressed.
It is a China consumer play, profitable, choked with cash. If they can get choked on that much cash just from tiny Hong Kong, imagine what they might do in great big China !
Backing out the cash hoard, the company is selling at next to nothing PE (say 3), and can ignore the liabilities, because there is no debt, and what liabilities there are, they are really equal to services to be provided, non-refundable in cash, and vaporizes in 24 months.
The lady CEO founder is a beautician, ambitious to create a brand name and a great big chain of beauty salons, didn’t need the cash via IPO, just floated 25% of the company, and probably will distribute as much dividend from this cash business as she can.
Now I wait, and pray that bird flu does not break out while I am still committed.
(2) On my recent purchases of gold, since its correction, for the early buy-and-hoarders, or debacle, to the non-believes who wanted to get richer quicker, like:
Message 22545112 HKD 5,312 per tael
Message 22548045 HKD 5,387 per tael
Message 22548339 HKD 5,399 per tael
Message 22563352 HKD 5,432 per tael
I am now better off, with gold at HKD 5,541 per tael, and hope to be even better than better off, shortly, re-experiencing the intoxicating energy of inflation, or as Paulson puts it, ‘grow out of debt’. Love the word play.
Chugs, J
Message 22541099 Report #4
Message 22537189 Report #3
Message 22536770 Report #2
Message 22534255 Report #1 |
