Greetings from London! Came over here a couple days ago on a business trip. Starting to wonder if I will get back, apparently there is volcanic ash closing down the airports.
I had two of my OB Chinese stocks report this evening. It was definitely a tale of two stocks.
NEWN.OB - this is my newest stock and they earned 82 cents a share (8.31 price) in 2009. They have a market cap of 45m, they had about 6.7m in operating income and with about 3m in cash you can see they have about a 14% earnings yield. They expect to grow by 38% (New Energy Systems Group Reports Record 2009 Results) in 2010 and to increase eps to $1.23. So I fell good about my buy.
CHCG.OB - this is going down as one of my worst stocks ever (CHINA 3C GROUP Files SEC form 10-K, Annual Report). I haven't seen a press release, but frankly they have nothing to brag about. Even with the vaunted Chinese stimulus package, their results got worse every quarter in 2009. They will get sold out of my MFI portfolio shortly, but at 44 cents a share, it is a bad news story.
Not sure what happened yo BIOC, they ramped up sharply starting Tuesday afternoon (about 10%) went up a bit more Wednesday and then gave it all back today.
I gotta say, after a stellar 2009, my portfolio is not exactly en fuego, even though the broader markets meander higher. I should not complain as about 18 months ago I was 60% under water and now I am up 6% since I started MFI. But it is human nature to complain. So far this year I am up 5.9% versus the Russell 3000 being up a bit more than 9%. Looking at the stocks, it is largely my Chinese names (ceu, liwa, chcg, cmfo, cbpo, uta, and qkls) dragging me down. They are down an average of 16%. GTLS, SHE, RGR, QCOR, JCOM, BKE and ESI are my winners, up an average of 38%.
Oh well, that is all I have to say for now. Think I will turn on the telly and see if Bennie Hill is on.