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Strategies & Market Trends : Value Investing

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From: gcrispin	7/25/2010 1:00:35 PM
	1 Recommendation Read Replies (1) of 78990

Back from vacation I've been catching up on the posts here. Regarding Chinese banks, there are a couple of essays I've recently read that I found instructive. The banking system and the potential for default is a hot topic. This piece sheds some light on the "Great Wall Street". economist.com This article from Bloomberg drills down more specifically to the debt issues in China. bloomberg.com For those interested in China, I recommend Peter Hessler's new book COUNTRY DRIVING. Hessler was the New Yorker correspondent in China for many years. Fluent in Chinese, Hessler spent time driving across the country and living in both village and factory towns. I found the book provided me with new insights in how both businesses and the country itself operates. That said, I added to CEU position which I've mentioned here before. With 2.10 in cash, no debt, and a high ROE, the company fits into what I'm looking for in an investment in China. CEU was recently mentioned in an article about MFI. seekingalpha.com I've also bought an entry position in CCME. There are many positives about the stock. I'm not sure if you could find a higher ROE than what CCME has earned. finance.yahoo.com Of course, there are negatives. The most glaring is the high short interest and the stock payouts that management will receive for milestone earnings in 2010 and 2011. I think the history of payouts for VISN haunts this stock as they are in the same sector. So one should carefully weigh the pros and cons with this investment. I believe these two articles on Seeking Alpha about CCME offer a fair analytical opinion on the stock. seekingalpha.com seekingalpha.com

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