HenryTo
Site Admin
Joined: 06 Aug 2004
Posts: 11732
Location: Los Angeles, California
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 Posted: Tue Jun 26, 2007 8:55 am Post subject: China's Analysts More Bullish Than Ever |
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Here is your contrarian indicator for the Chinese stock market:
http://www.bloomberg.com/apps/news?pid=20601109&refer=home&sid=abs9ptgZ7yCI
| Quote: | China doesn't allow investors to sell shares they don't own and buy them back later, a practice known as short selling. That leaves brokers more reliant on buyers for commissions.
James Liu, who manages a $441 million China equity fund at Singapore-based APS Asset Management, said he sees overly-bullish calls on Chinese stocks as a sign that the strongest gains are over. He now uses them as a contrarian signal, avoiding shares with a lot of buy recommendations.
His APS China A Share Fund is the second best-performing hedge fund in the world for the past 12 months, with a total return of 139 percent. APS relies on its own team of 10 investment analysts for research: seven in Shanghai and three in Dongguan, close to the factories in the Pearl River Delta manufacturing belt. APS plans to set up a third office in Beijing this year. |
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