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From: http://www.marketwatch.com/story/hon...siteid=yahoomy
Ok so after the whole HK market tanks hard from the mass-speculation, given they all seem to have short memories over there, how do I invest (small amounts) into their 2010/2011 re-re-emerging IPO market?
Adeptus,
HONG KONG (MarketWatch) -- Forget somber reflection on the one-year anniversary of the Lehman crash, memories are short in Hong Kong and bear markets shorter still, as the city dives headlong into another speculative frenzy. Initial public offerings are receiving record subscriptions, luxury property prices are in the stratosphere, and the equity market is at a 2009 high.
At times like this, fundamentals get removed from the investor lexicon, as mass psychology takes over. Fear has been replaced by that more painful emotion: missing out.
That's one way to look at the new Sinopharm IPO that has taken in $113 billion in orders, including a 600-times subscription for the retail portion of the issue. :eek: :eek: :eek:
No, the company hasn't found a cure for cancer
, but is simply a distributor of pharmaceuticals in China and comes at a steep 25 times its 2010 earnings. The only numbers under scrutiny are the amount of money chasing the issue and level of margin financing on offer.
At times like this, fundamentals get removed from the investor lexicon, as mass psychology takes over. Fear has been replaced by that more painful emotion: missing out.
That's one way to look at the new Sinopharm IPO that has taken in $113 billion in orders, including a 600-times subscription for the retail portion of the issue. :eek: :eek: :eek:
No, the company hasn't found a cure for cancer
, but is simply a distributor of pharmaceuticals in China and comes at a steep 25 times its 2010 earnings. The only numbers under scrutiny are the amount of money chasing the issue and level of margin financing on offer.
Adeptus,
