China 3c Group (CHCG.OB) is primarily an asset and turnaround play. It's currently trading below its cash balance and at a fraction of revenue and book value. If China 3c was to liquidate tomorrow, the shareholders would all be sent a check in the mail. In order for shareholders to actually be rewarded, management must use its capital wisely. There are no guarantees that management will get the assets invested to generate more money or return those assets back to shareholders.At the time of publication, Buckley was long Asia Cork, Gold Horse and Telestone. Bradford was long all the stocks mentioned.
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