Bought:
Foreland @ $0.53
ChinaSunshine @ $0.31
Latest Holdings:
Cash
C&G Industrial
China Energy
ChinaHongxing
ChinaSunShine
ChinaWheel
ChinaXLX
Foreland
Jiutian Chemical
Pine Agritech
Sihuan
CPF
Asia Enterprise
Midas
Raffles Education
The general weakness in the market today has triggered me to pick up some counters which I feel are relatively cheap. I disposed of Foreland at S$0.55 some weeks ago and I bought it back at a cheaper price today.
I think there are enough counters in my portfolio at the moment. The next stage I look to increase my holdings in individual counters to strengthen the overall investment value and to capitalise on any price weakness.
Some ask why i like China companies so much that my portfolio consist of 100% S-shares (Cash portion). Well, China has become a major force in the financial world. With the listing of PertoChina today, China has got 5 of the 10 biggest companies in the world! I believe its a matter of time that China would replace US as the largest financial market. That should bode well for people living in this part of the world. As I type, how many of you are staying up to look at US for market direction? How I wish such sleepless nites would be over soon.
I have some analyst friends who never like a thing "China". They don't look like AngMoh but they will shun anything Chinese. Surprisingly they do speak good Mandarin. They say they would never want to travel to China as the toilets are not up to their hygiene standards. They don't take a second look at Chinese women as they do not have good image here....
What can I say? We all are entitled to our own opinions and have our preferences. They do not know what they are missing. Look at Cosco, it has been the best STI stock this year. Many S-shares in my portfolio have proven themselves. Jiutian, ChinaHongxing and Pine have all increased their values by more than 5 times since listing in a relatively short period of time.
Speaking of corporate governance, I think there are more troubled local companies than the Chinese counterparts. The biz practice in China has always been seen in a negative way. I firmly believe that many of these Chinese companies have performed even better in terms of governance rankings vis-a-vis local firms. Many of their CFO and CEO have studied MBA and they are maybe even more advanced in their managerial skills than we ever realise. Even the shrewdest Warren Buffet once invested in PetroChina but too bad he didnt have the nerves to hold on to it. Otherwise, his wealth could have increased very significantly with the strong debut today.
I know whatever I say I can never change some people's mindsets. Well, at the end of the day, what matters really is whether you made money from your investment. There is no one winning formula in share investment. Had you chosen to buy the biggest losers of last year at the beginning of the year, you would have been sitting on profit of >400% so far. The portfolio may not look sexy but what the heck, who cares, as long as you made money!
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