Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (26750)	10/31/2003 9:41:02 AM
From: Tommaso	Read Replies (2) \| Respond to of 206092

Found the answer to my own question (Rogers on China): asiaweek.com

To: Tommaso who wrote (26750)	10/31/2003 11:57:45 AM
From: t4texas	Read Replies (1) \| Respond to of 206092

yes, jimmie has been bullish about china for years now. he's pretty funny too as he said he is going to make sure his new born daughter is going to learn chinese. i have learned some chinese myself, and it is done best if one lives there quite a while and avoids speaking or reading english. i am bullish on china too, but chinese stocks are difficult due to accounting and just about any kind of fraud anyone has ever thought up. you won't see a yukos type blowup in china. one thing about most of the big chinese companies today is that they won't be like the russian mess we have just witnessed. that is because most of the big chinese companies are totally chinese government controlled and owned already. these companies have staggering debts and have lost money since forever. many of these companies are adr's on the nyse. the way many of these adr's are showing profits is through some accounting zigs and zags. those earnings reports each quarter that we get can state anything they want them to state. if you want a clue where to look, note that snow's recent trip caused the chinese to talk about a step process to getting their financial house in order so their currency may one day be valued differently. note very closely the part about their concern about their banking system. there is so much bad debt there that it would stagger you. a LOT of that bad debt is debt those big chinese govt. companies have gotten from those banks. basically there are tons or writeoffs and bankruptcies (or something) that need to happen in china. now all that said the chinese are making these adr's do well, and i don't think they will pull the rug out from under them. however just be aware that these things are a game, and in china the government can do anything it wants with these companies on any day they want to. i would treat it like electricity. you may play with it a little bit, but don't ever lose respect for it because it can kill you fast in larger quantities.