A Prodigy of Stock Picking
As Warren Buffet is bullish on the US stocks now, I thought there should also be some attractions for the Hong Kong ones. Though I have never seriously invested in shares, the idea of a market "bottoming out" is tempting. Simply for the sake of interest, I was particularly observing the price movements of some blue-chip companies in Hang Seng Index in the past couple of weeks. Out of some simplistic intuition, I somehow thought that Citic Pacific is a promising stock of under-valuation - that it has diversified investments in China with a reputable management pedigree, yet seemingly without any fragile exposure to the money trade.
How wrong I was! My impression of the company was swiftly proved illusionary with the shocking headlines that it was scarred by currency bet, and of course a merciless slide in its share price - of over 50%!
And how spooky is the temptation to test out the bottom of a falling trend! As a matter of fact, I have never been good - and luckily, never had any interest - in gambling.
How wrong I was! My impression of the company was swiftly proved illusionary with the shocking headlines that it was scarred by currency bet, and of course a merciless slide in its share price - of over 50%!
And how spooky is the temptation to test out the bottom of a falling trend! As a matter of fact, I have never been good - and luckily, never had any interest - in gambling.
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