I thought it was the cigarette butt strategy but whatever. At some point, the need for return exceeds the huge cash piles from the insurance component riding the baby boomer trend. Who pulled the trigger on the change I do not know, the economics would dictate a change.
Jin's not being honest when he claims he sold XIN above $3.
On the contrary, the opposite is true. During the entire 6 month collapse from $3.95 to today, about every week or two, Jin would issue a thread claiming to be buying more XIN. He must've made 20 posts to that effect. Never once did he post that he was selling XIN.
If you want a laugh, search for the thread called: "Advice from a Long Time Owner". It's the first thread I ever wrote on XIN board, back in April, and on it Jin tells me what an error I was making by selling at $3.85 that day.
He also mentions he's been buying XIN since the $4.20's. So, he's been buying since the $4.20s, all the way down, yet he claims not to have lost any money.
Hmmm, good finding about Jin's lies. I once post a thread regarding his lies as well. As a guy claim to buy every time when there is a 10 cents drop after $3.50, how could he end up sell most his XIN shares above $3 and still claim himself "a true long term value investor"?
On the positive side, his lies are still easy to be detected for every member who has been active in this board.