Today I read an open letter to investors by ZHAO Danyang, founder of hedge fund Pureheart. http://www.pureheartchina.com/english/new10.asp. The letter was published at the beginning of 09. He believes "an important bottom will form in Chinese stock market in 2009". He also asks "Who will become China’s Wal-Mart, Toyota, Microsoft, P&G in the future?”
Well, he obviously believes that Wumart (8277.hk) will be china's wal-mart, and probably BYD will be china's Toyota. Wumart and BYD are both interesting companies. I will talk about them more later.
If I have a lot of money (say, US$500,000), I will invest some in purheart's fund). His new Natural Selection fund has a minimum investment amount of HK$250K, which is about US$32K. Not a lot really. But i am not sure if i have the extra amount to risk with him. Like hedge funds, he charges huge fees. I have never invested in hedge fund before but those based in the US seems to require even higher net worth.
Wednesday, April 29, 2009
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