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Strategies & Market Trends : Value Investing

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From: Rainmaker888	9/9/2010 5:52:52 AM
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Chinese stock craze....there seems to be a sudden uptick in shares of Chinese smalls caps after remarks by Burry. Mohnish Pabrai: the average Chinese company has three sets of books. You know, one for the government, and one for the owner’s wife and one for the owner’s mistress. And so the problem you have is you don’t know which set of books you’re looking at. And so I think in Chinese companies, or even in Indian companies, there you have to add another layer, which is you have to handicap the ethos of management. And that can get very hard, especially when someone like me is sitting in Irvine with naps in the afternoon, trying to figure that out.

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