really has been ages since i last post on blog.
Two things have distracted me from writing here. One, I have now turned the hobby into a day job. So when thinking about stocks 24/7, it is hard to keep the enthusiasm to write blog on the same subject. And two, I am now a micro-blog writer. For those interested, I can be located by searching 'isiah_zhang' in SINA weibo. Guess it does make more sense that if I do end up writing anything re the market, I will keep it shorter. So weibo fits.
What are they
- financial investors focusing on buying and selling private businesses
- comes in all types of specializations, but largely classified as buy-out vs. growth equity
- funds are set up typically 2/20 regime, i.e. 2% annual management fees plus 20% share of the profits made
- fund management company typically set up with rainmakers MDs + execution t
It’s Baby-G Time in
Yes, fellows, we are talking about the Generation Next of section G of HBS.
Here in China, since the graduation in 2003(Gosh it seems so
remote and unreal now – that’s when names like AIG and Citigroup
were still worshipped across the world as American idols and people
don’t have to blame RMB exchange rate for all the troubles
The Zou’s: [picture omitted]
Mr. Vitaliy Katsenelson, an investor author (his Active Value Investing is a pleasant read) was a regular contributor of ideas on GURUFOCUS forum. Long skeptical on the China resurgence story, he attacked again in a neat little article “Chinese Quest for Shortcut to Greatness” on January 28, 2010. Here is what how I read his key points (full article is worth a read at http://www.gurufocus.com/news.php?id=82791):
2009 saw me making strides in
the game of poker: not only I became more confident and experienced
in both strategy and practice, but
I have decided to quit poker for some time. Mostly it is due to an important change coming forth in my family
A little-known writer and private investor from Singapore runs a rather insightful blog (http://mystockthoughts.blogspot.com/) that I came across by chance. Independent and practical, he maintained an engineer style of level-headedness and many times offers scintillating thoughts. Lately I have read a new piece discussing “stock investing – picking low-hanging fruit”. Some nice quote:
“Actually in my view, investing is a very simple process compared to most other forms of work in the world. Not making money from investing, mind you, but the process in itself.
… the point to all the above
Let’s boil it down to the core and ask the real question without dogding, which is in today’s China market, what is the best practice/strategy for a value investor with only small amount of capital to work with
Note: I have appended a recent thread of discussion I involved at Gurufocus.com. In replying to an article on the essence of China's economic growth, some American friends went on to cast doubts on the validity and the sustainability of China's economic model. While a critic of market's blind faith on China myself, I felt obliged to say something to the doomsayers. Hence the thread of discussion edited and quoted...
CHINA GROWTH: NO MIRACLE;GOVERNMENT SPENDING NO LONG-TERM SOLUTION
Posted by: guruek (IP Logged) Date: May 17, 2009 10:38PM
Playing poker and making investments are two biggest hobbies of mine. It is not surprising that that there are many similarity between the two. In fact, the more experience I accumulated at both, the more interested I began to compare the two.
Some similarities are
self-evident. For instance in both cases, we are dealing with
imperfect information and making decisions under uncertainty.