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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (42581)5/10/2011 11:21:54 AM
From: Jurgis Bekepuris  Read Replies (1) of 78462
 
I would be more happy if I were right on other Chinese small caps. :/

Looking back the correct approach was to avoid all the RTO space + some small cap native IPOs. No income/balance sheet analysis was enough to find good RTOs. The ones with lousy income/balance sheets were as likely to collapse as the ones with great financials. The jury is still out if there are any that were good investments long term.

In toto, I made money on GFRE even with disastrous last sales. These gains may cover my losses in other Chinese RTOs. The margin of safety - buying really cheap - applies even when companies are fraudulent. ;) Especially if you sell on various runups. ;)

I still hold bigger/institutional Chinese names: CYOU, GAME, PWRD, CHL.
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