Wednesday, May 28, 2014

Sold Yangzijiang

Just to update readers here. I just sold all my shares of YZJ.

I am not sure if anyone follow me to buy YZJ, but nonetheless, my reason, your call.

This news is the trigger:

Rail company calls for investigation into shipbuilding tycoon Ren Yuanlin

http://www.sinoshipnews.com/News/Rail-company-calls-for-investigation-into-shipbuilding-tycoon-Ren-Yuanlin/3w3c2686.html

I believe Yuan to be a capable businessman with good connections with local government. Nonetheless, I like to hold on to more cash to await opportunity. Apparently, the news is already 2 days old, but market do not care. I care though. Ren is the key factor in the YZJ equation.

Just to keep readers heads-up, not a buy or sell call.

5 comments:

  1. Thanks for the heads up! Not vested but it is one of the stock that created quite a buzz a few years back

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  2. Solid decision, as reflected in today share price. Unfortunately, such problems still face S-Chips

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  3. Thanks solace, I consider myself very lucky.

    The news is already 3 days old when it surfaced. And the price went up!! I tot what the hey is market thinking.

    Usually by the time I know, it is too late. Wonder why market is so slow in reaction? I genuinely thought it will be a non issue since its old news. It just conincide with the decision to hold more cash.

    Lucky me.

    I am still lamenting how unlucky I am to advise my MIL and wife to take profits just a day before the alibaba announcement. Look like luck has no deserted me afterall

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  4. YJZ popped this morning, new ship orders coming in from Fortescue in Oz. Lets see if it will go back to $1.10-1.15 with this positive news to counter the Tianjin Guoheng damper a few weeks ago.

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  5. Hi Stevens,

    Congrats, I am already out, but enjoy the ride.

    Never doubt the shipping business, just monitor the HTM closely.

    Markets has brush aside the HTM rightly or wrongly

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