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Here are some HK shares to be avoided by value investors :
Heritage ( 00412.HK) market cap = HK$20.5 Bil, share price now at $1.21 which well above NAV = $0.356 .
Willie ( 00273.HK ) market cap = HK$8.19 Bil , share price now $0.58 which is well above NAV= $0.182 .
Mascotte Holdings ( 00136.HK) market cap = HK$12 Bil, share price now =$0.355 compared to NAV = negative ?.
Above information gathered from "aastocks" website.
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(14-05-2015, 11:35 AM)soros Wrote: Here are some HK shares to be avoided by value investors :
Heritage ( 00412.HK) market cap = HK$20.5 Bil, share price now at $1.21 which well above NAV = $0.356 .
Willie ( 00273.HK ) market cap = HK$8.19 Bil , share price now $0.58 which is well above NAV= $0.182 .
Mascotte Holdings ( 00136.HK) market cap = HK$12 Bil, share price now =$0.355 compared to NAV = negative ?.
Above information gathered from "aastocks" website.
“The market can stay irrational longer than you can stay solvent.” - Keynes.
Embrace the bubble. Fastest way to financial freedom, if you can get out before it pops.
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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Today's star performer in the top 20 stocks with highest % gainers was Junefield Group ( 00758.HK) rising 78%. The company reported to Stock Exchange that it was not aware of any reasons for the rise in its shareprice.
This is not quite the same as saying "the market can stay irrational" . The company reported a big loss on 1st April 2015 and not the kind of news to justify the 78% share price rise today.
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Mascotte Holdings ( 00136.HK) has an issued share capital of almost 35.9 Bil shares and market cap of HK$10 Bil based on last traded price at $0.285 .
But if the NAV is -$0.007, has it reached insolvent state or bankrupt state ???
The company's misfortune seems to be caused by investing in a fake silicon manufacturing company. But should the Stock Exchange allow the market to do what Keynes has been quoted to say "The market can stay irrational longer than you can stay solvent " ?
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Just an update share price @ Nov 2016 on irrational investment :
Stock No. 00273.HK Name now : Mason Finance , Previous name was Willie
Price at 11 Nov 2016 = $0.165 , price at May 2015 =$0.58
NAV at 11 Nov 2016 = $0.197, NAV at May 2015 = $0.182
Market Cap at 11 Nov 2016 = $18.4 Billion , Mkt Cap at May 2015 = $ 8.19 Billion
Stock No. 00136.HK Name now : Hengten Net , Previous name was Mascotte Holdings
Price at 11 Nov 2016 = $0.51, price at May 2015 =$0.355
NAV at 11 Nov 2016 = $0.0099 , NAV at May 2015 = - $0.007
Market Cap at 11 Nov 2016 = $37 Billion , Mkt Cap at May 2015 = $12 Billion.
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It's them crazy speculators from China. For them it's just another day gambling on another asset.
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