For those of you who want to join me and make something out of nothing, I'm going to introduce you to the most ridiculously undervalued Chinese companies on the face of the planet.

The requirements for these companies:

1. High growth

2. Profitable

3. Selling less than book value

4. Cheap, based on earnings (including positive cash flow from operations)

I'll start with the top and work down. The target value is a calculation composed of three parts: one-third book value + one-third price/earnings of eight + plus one-third price/earnings of growth. I have adjusted some of these numbers to remove one-time expenditures, the potential of share dilution, intangible equity, etc. To be honest, all of these stocks should trade much higher than their targets. This just helps me price companies in the midst of a crisis.

1. China Finance ( CHFI.OB) was sold down 50% on record-breaking volume Monday while I was backing up the truck of bullishness. China Finance is responsible for helping small-to-medium Chinese enterprises go public in the United States. What makes this case unusual is China Finance's assets are highly liquid -- they could be sold in the market at the current price. Its largest position on Monday, Jade Art, was unchanged, its second-largest position, Gulf Resources, was up 8.3%, and its third-largest position, China Organic Agriculture, was up 6.9% on higher volume. It's not surprising that a company responsible for taking podunk Chinese companies public struggled through 2008. My estimates on this stock put it in 100-bagger territory from its 52-week low of 4 cents. China Finance also helped two of my other picks -- China 3C Group ( CHCG.OB) and Oriental Paper ( OPAI.OB). At 10 cents, China Finance is selling at less than its highly liquid securities, especially after you take into account their price appreciations since Dec. 31.