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Well, he must have had some kind of wake-up call, because in the October "mega-issue", he rather quietly advised selling all of the Hong Kong stocks: Hong Kong Telecom, HSBC Holdings, Guinesss Flight Hong Kong and China Fund, and of course, the notorious CPPKY. He never made any blanket statement admitting that he had been wrong about Hong Kong. (Dessauer rarely admits that he was wrong, and when he does, he only admits to minor mistakes, never major ones) He just said that he was concerned about the Hong Kong government supporting the stock market there. He said that he still thinks there will someday be a recovery in Hong Kong (gee, thanks Dessauer) but that it may be a year or two away, and that in the meantime, we could double our money in some of our other great stocks. |
