has only fallen since reporting 62% revenue growth and forecasting 50% growth into 2011. My put is at "hyperconservative." If that's not an understatement, I donâ¿¿t really know what is.
Prevailing sentiment is just that. See where things are going and get there before they do. Sentiment will change to incorporate reality eventually. How long will stocks from the fastest growing, sexiest economy in the world, China, remain undervalued and ignored on the US Stock exchange by profit motivated investors?
It's funny to me when the cheapest companies in the world get cheaper. Nobody understood them to begin with. Why should more people understand them enough to buy them now? A dirty secret of asset management these days is that the perceived to be "safest" investments are actually the riskiest.
Risk comes from overpaying, and joining crowded trades is the best way to ensure this outcome and this is encouraged by the positive feedback loops of intermittent success of asset managers that are measured by immediate relative performance. More and more people are moving out of stocks into bonds, even U.S. Treasuries. Inefficiency bothers some people, but I try to make the most of it. As I've always said: "Uncertainty will certainly work for me."
Disclosure: Bradford and his investors are long China MediaExpress, Skystar- Biopharmaceuticals, China Armco and China Biotics.