Thursday, July 9, 2015

Sold Kweichow Moutai

Sold my holdings, 900 shares @ CNY 244.  Profit ~ SGD 15.5K.

Why did I sell?  Its a toss up between:

  • Hold, because its a good company at reasonable valuations and good long term growth potential, and I've got nothing else to buy.
or
I don't think any bursting bubble ever has ever been successfully averted up by a government anywhere ever.  The only way they could do it - and its just possible in China - is to order the banks to print money and buy whatever price the market offers.  They will do whatever it takes.  See the nice chart here.

Hope that, after the carnage, I can buy back at a cheaper price later.

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I'm now 91% in cash.  Buffet said it best - like an oversexed guy on a desert island.  Still nothing to buy.



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