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TOPIC: Portfolio Update : China Sell Off

Portfolio Update : China Sell Off 3 weeks 2 minutes ago #356

  • mr.siargao
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Portfolio Update : China Sell Off

Hi all, I want to address the current poor performance of the portfolio over the last 2 months. We're currently down around 6% in July. The reason for this is the sell off in China ($China50), and in particular Chinese tech stocks. This looks like an incredible opportunity, and when comparing China valuations to US valuations ($SPX500), the upside is, in many cases, 100% or more. To all my new copiers, I think you've joined at a really good time!

The sell off in Chinese tech has been driven by fear of regulations by the Chinese state. China has taken a few actions that are of slight concern, such as suspending the Ant IPO ($BABA (Alibaba)) following Jack Ma's criticisms of state banks, and banning the Didi app after they ignored regulators warnings and went ahead with their IPO. They've also issued a few fines for anti-competitive practices, but the fines have been small and deserved, we see similar fines for US tech companies e.g. $FB (Facebook) $GOOG (Alphabet) .

In both cases the concerning actions have been, in my opinion, retaliatory, and when you look at the impact on the entire industry, there has really been no damage done. The key thing is that China does not want to damage its tech industry, quite the opposite, China aims to lead the world in tech, as laid out in its "Made in China 2025" plans. The Chinese state is just ensuring that it remains in control of the industry, and that the companies remain obedient.

Where there is fear, there is also real opportunity, and this looks like the best opportunity since the COVID19 sell off. You can see in my stats that in March 2020 alone, the portfolio took a 20% hit, but this was also the best time to join, and the portfolio doubled between April and December of 2020.

I can't tell you what the market is going to do in the short term, but I can tell you that the Chinese tech sector is incredibly undervalued. The portfolio may see increased volatility in the short term, so keep an eye on stop losses. The key to taking advantage of this opportunity is not to panic and to remain patient. Remember the words of Warren Buffet "Be fearful when others are greedy and be greedy when others are fearful".

~Lordfoofoo , www.etoro.com/people/lordfoofoo
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