I used to live in China and agree with your assessment....but what worries me....is that the SEC issue as I understand it relates to a problem not with the size of the company or even the financials themselves but with the release of that information to US authorities. The auditors say that releasing the information is a violation of Chinese law and the US regulators says we don't care and if we don't get it we're delisting you. So, whether its Sinopec or China Mobile and any of the big banks if the information is not released there's a problem. And given that to some extent its a political problem I think it makes it even worse. That's why I was wondering if you had any information on what would happen if they were delisted. I'm going to continue researching this, if I get information I'll post it here for you.
I've been very interested in Chinese Banks and Oil companies for a while....but have been concerned about this latest flap with the SEC where Chinese stocks/ADRs could be delisted if certain audit information is not forthcoming. Are you up on this at all and is it a legitimate concern? Or do you purchase the stock directly on the Hong Kong exchange?
Seemingly the right stock with the right management in the right market. I've found the stocks behavior difficult to understand for the last two weeks. I'm curious also if anyone has any insight into what's going on.
I just wanted to thank everybody for their input. It's a pleasant change to see thoughtful posts with no spam and nobody being insulted.
I ended up buying 200 shares last week on what I think of as the fiscal cliff-smoke and mirrors- dead cat bounce. My thinking about fracking was, longer term if its a cheaper and perhaps environmentally less dangerous alternative to deep sea exploration, could the entire marine rig industry take a hit as exploration moves away from off shore opportunities?
I'm not sure if you are interested in Singapore more generally. But its curious to me that some very solid performers like KPELY, DBS and UOVEY to name a few (of the few) don't seem to garner much interest here on Yahoo.
I'm close to 60% bonds but until now I've done almost all corporates BBB+ to AA that I've chosen myself. I have a few GSE bonds as well but no bond funds. But now, I have to literally go out 30 years to get 3.5% on a Shell or Pepsi or something of equivalent quality. I feel like a classic schizophrenic trying to chase yield without being pushed to far up the risk curve at the same time. What I'm hoping for from a Bill Gross is that kind of magic that can sidestep the downward pressure in price if in fact I held the fund into 2014 or 2015 and interest rates move up a percent. My alternative is foreign equities with decent dividends, reasonably stable currencies and no foreign withholding.
I've done well with DBS and am now looking at some of the other top banks in Singapore. I've also been thinking about Singapore Tel for the dividend even though the company itself seems to be facing some pretty strong headwinds. With 0% withholding and a good currency I'm feeling very comfortable with Singapore verses the possible upheavals coming in Japan and generally unfamiliarity with Korea and Malaysia.
I was wondering if anyone is interesting in sharing anything about a longer term experience with Singapore equities.
My history is a short one. 15.93 up to about 17.90 and now back to 16.89. I bought based on good quality management not Apple rumors. I was wondering where others felt TSM was going in 2013.
I can still kick myself for not jumping in at 100 and later at 105. Now that BOND has backed off 110 any feeling for if its too late to jump in? Is 115 or 120 in the cards for 2013? It makes me nervous how old Bill Gross is starting to look every time I see him in an online video.
I've been in and out of FAX a number of times and always done well. I've been reluctant to jump back in because of the high price and the fact that they're eating into their capital base to maintain their payout. Anybody think AUNZ might be a good alternative for income and capital preservation?