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Baidu, Inc. Message Board

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  • hmmm26 hmmm26 Oct 14, 2011 6:47 PM Flag

    Huge Meetings all weekend- Baidu SINA

    can you and i make a pact? if you hear anything from this weekend's meetings that you think might affect chinese stock prices monday (or even if you're just not sure whether something might have a price impact), can you re-post to this thread? i'll do the same if i hear about anything, and that way we'll have at least 2 pairs of eyes trying to peer into the fogged up darkness of a Central Committee meeting.

    lol, actually, trying to read Communist Party tea leaves seems kind of cool to me, like experiencing a flashback to the cold war.

    fwiw, i don't worry much about the sec/doj outright fraud investigation, since bidu uses ernst & young, one of the most respected accounting firms in the US, as their cpa's (sina and the other high cap chinese corp's listed in US have equally prestigious accountants - for fraud, it's small companies with no-name cpa's to fear). if there was anything dicey going on at bidu, e&y would immediately dump them as a client, since they would lose many more than one client if their reputation were harmed (another US accting firm, d&t, dumped chinese co. longtop financial for just that reason).

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    • if you're int in an example of an innocent company's stock price being devastated by the accting fraud scandal who don't deserve it, check out XIN. there's been no allegations of fraud there at all, but since the fraudulent companies have been about its size, it's price has been bid down to a current p/e of 2, with a forward p/e of only 1.7!

      despite that, i still haven't bought in yet, thinking it might still trade lower. weird days, weird days.

      Link to XIN chart, if int:

205.58+3.78(+1.87%)Nov 27 1:00 PMEST