I'm not bearish but I do think people are not seeing the downside clearly enough. At the drop of a hat the govt can make http://JD.com and Richard Liu or even the entire foreign owned market disappear. This must be reflected in the stock price.
-
This Tweet is unavailable.
-
This Tweet is unavailable.
-
My brush isn't that broad. 1. PRC has made it clear that it wants ownership in firms like Alibaba, Tencent, and http://JD.com - which is not par for the course when it comes to stock ownership 2. We are talking about a country where this conversation cannot even exist
3. There is a long history of foreigners learning that what they think they own, what they should own according to "global norms" is not theirs. The semi-legal VIE structure is one such example
-
-
4. You're from Singapore. Singapore built an entire city in Suzhou as a model for positive economic development. What happened after that? Chinese local gov't duplicated it next door and undercut it via lower tax rates. Par for the course.
-
5. This is the main point. If you look at my original tweet, I didn't say I'm bearing on JD, I said people underestimate the gov't risk of it going to zero either by government "assassination" or simple nationalization.
- 12 more replies
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.