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(13-09-2024, 08:54 PM)dreamybear Wrote: As you have mentioned in your other post, there are other cheap stocks in HK. That said, I do believe there are investment merits for CSS as you have rightly pointed out. Perhaps I may initiate a position soon enuff, never say never.
As an aside, regarding CTF, it might have been affected in part by the situation at New World development.
https://www.reuters.com/world/china/shar...024-09-02/
I have looked at these jeweler-retailers some time ago. The most attractive part of the investment thesis was - "They are cheap". And because of that, it immediately drew a red flag for me. Deep down side, I find their brand names having much overlaps in characters and sounds, not assuring as well
Sure, we need to be well positioned for the eventual consumer recovery in China/HK. But is it also possible to be exposed to this recovery via other jewellery brands like Tiffany or Van Cleef & Arpels? Of course, one could argue that the parents of these brands are diversified across different verticals and so any recovery will not have "that much of an impact". That is true too. But it is true also on the downturn as well.
My own observation and experience has taught me to look for 3 feet poles because I am just 4 feet tall. One day when I grow to 7 feet, I will surely look for 6 feet poles to jump!