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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Joan Osland Graffius who wrote (94125)	1/19/2002 3:42:39 PM
From: Terry Maloney	Read Replies (1) \| Respond to of 132070

Joan, speaking of China as a place to invest, this post might be of some interest: Message 16932911 Regards, Terry

To: Joan Osland Graffius who wrote (94125)	1/19/2002 4:39:50 PM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

Joan and Terry, I kind of agree with Rogers as to China being a great investment. If nothing else, they have all the dollars we send to them. However, I have a tendency to have much less of my China investment in China itself than in tertiary plays. For example, I like Huwhy, Cheuy, ROC, SGF, Jardine-Matheson and Jardine Strategic. The Chinese closed end funds are selling at deep discounts, but their expenses are tremendous. CHN seems to be the smartest of the bunch. Jardine-Fleming seems to not quite get the concept of investing to MAKE money. <g> Mobius's Templeton duo, TDF and TCH, are somewhere in the middle, at lower fees. Right now, property is in a depression and that is where to buy. Cheuy is just dirt cheap while Jardine's seems to come up smelling like a rose no matter what they do. Singapore and Taiwan are the models China is emulating, and why not? These are the countries that are racking it in while China is fumbling to find its groove. The risk is tremedous. That is why the CEFs sell at deep discounts. And why many great cos. in this area are selling at 7-9 times eps with dividends about triple US money market rates. Will China be ready to take over when the Greenspan follies hit the wall? I don't think so. Their stash of bonds and bucks could make our recovery slower and much more difficult, but we still have too much of a lead. But it will be like a football game where we are ahead 52-10 and all of sudden it is 52-43. They will seem to come out of nowhere to be a real economic power. Now if they can just be convinced not to nuke India, Taiwan or South Korea. Or attack the Seventh Fleet.