Stock Follow up - Aug 02, 2007

Aug 02, 2007

last week
sold Vanke @ 27.3 and bought 031003.sz (option of Shenzhen Fazhan Bank) @17.5, Wuhan Steel @11.5 and Shenzhen Airport @10.9
Want to buy Vanke back last Friday but had no money and it jumped to over 31 today. :( Will try to get it back and hold for years when it sit back.

我的选股假设 stock-picking assumption

July 23, 2007

在Value Investing的经典情况下，业绩好的明星公司由于受到过多关注，股价往往相对昂贵，表现反而不及业绩一般，P/E较低，价格被低估（under-priced, not 'just cheap')的股票。
在目前的中国市场，假设大多数股票，if not all of them，价格都被高估.业绩一般的公司股票P/E和业绩突出的公司一样高，甚至更高，后者股票就显得便宜了。如果业绩增长的预期可以在一定程度上确认，... 虽然增长是价值投资方法中最后也是最不可信的股值因素。万科（Vanke, 000002.sz)市值太高，从长期表现来看可能不是最好的选择。

Stock Follow up - Vanke

July 22, 2007

Vanke (000002.sz) has been up 30+% since I bought at 19.03 less than three weeks ago. I am applying what I learned at Columbia, especially the Value Investing methodology, to the stock market of mainland China. Since everything looks expensive, I try to pick "certain" growth. Vanke is my first trial and now it is becoming also, if not more, expensive. I may sell it @ 26-27 and buy it back later

Stocks Follow-up - July 2007

July 11, 2007

Almost three months passed.

Vanke (000002.sz) 21.20

China Merchant Bank (600036.ss) 27.48

Hengrui Medicine (600276.ss) 41.77

Bank of China (601988.ss) 5.18

Boston Scientific (BSX) $5.47

CTrip (CTRP) $85.55

ELong(LONG) $10.10

Mindray Medical (MR) $31.42

PetroChina (PTR) $157.33

Action: Drop Bank of China, BSX and ELong. Added ALNY,AMGN and TEVA in May; ShanTui Construction Machinary (000680.sz), Anhui Conch (600585.ss) in June.

April 17, 2007 http://blog.sina.com.cn/u/4bfd7747010008gv