On the verge of panic in Chinese markets, I two days ago added the Chinese internet conglomerate, SINA Corp, to my model portfolio at Junto Investments and wrote an analysis and valuation of the company here:
https://junto.investments/companies/sina-corp-analysis/
Itโs a long read, so TL;DR: I perceive intrinsicย value to be at least $10-15 per share higher than the current price per share based on conservative assumptions and so I โboughtโ this Monday at an average price of $38.80. Personally, I own stock in the company at an average price of about $7ย higher.
If anyone decides to read it, let me know what you think and whether you agree/disagree on certain points. I want to make sure there's not an obvious and important factor I've failed to account for.
Not that I would expect so from /r/ValueInvesting's usually high-level semantics, but I would really prefer a deeper discussion input other than: "It's Chinese, stay away."
Cheers,
Oliver Sung
Do your worst!
China is planning to ban companies from going public on foreign stock markets through variable interest entities, according to people familiar with the matter, closing a loophole long used by the countryโs technology industry to raise capital from overseas investors.
The ban, intended in part to address concerns over data security, is among changes included in a new draft of Chinaโs overseas listing rules that may be finalized as soon as this month, said the people, asking not to be identified discussing private information. Companies using the so-called VIE structure would still be allowed to pursue initial public offerings in Hong Kong, subject to regulatory approval, the people said.
Companies currently listed in the U.S. and Hong Kong that use VIEs would need to make adjustments so their ownership structures are more transparent in regulatory reviews, especially in sectors off limits for foreign investment, the people said. Itโs unclear if that would mean a revamp of shareholders or, more drastically, a delisting of the most sensitive firms -- moves that could revive fears of a decoupling between China and the U.S. in areas like technology. Details of the proposed rules are still being discussed and could change.
The overhaul would represent one of Beijingโs biggest steps to crack down on overseas listings following the New York IPO of ride-hailing giant Didi Global Inc., which proceeded despite regulatory concerns. Authorities have since moved swiftly to halt the flood of firms seeking to go public in the U.S., shuttering a path thatโs generated billions of dollars for technology firms and their Wall Street backers.
Itโs all part of a yearlong campaign to curb the breakneck growth of Chinaโs internet sector and what Beijing has termed a โrecklessโ expansion of private capital. Banning VIEs from foreign listings would close a gap thatโs been used for two decades by technology giants from Alibaba Group Holding Ltd. to Tencent Holdings Ltd. to sidestep restrictions on foreign investment and list offshore. It potentially thwarts the ambitions of firms like ByteDance Ltd. contemplating going pu
... keep reading on reddit โก
Pilot on me!!
For context I'm a Refuse Driver (Garbage man) & today I was on food waste. After I'd tipped I was checking the wagon for any defects when I spotted a lone pea balanced on the lifts.
I said "hey look, an escaPEA"
No one near me but it didn't half make me laugh for a good hour or so!
Dad jokes are supposed to be jokes you can tell a kid and they will understand it and find it funny.
This sub is mostly just NSFW puns now.
If it needs a NSFW tag it's not a dad joke. There should just be a NSFW puns subreddit for that.
Edit* I'm not replying any longer and turning off notifications but to all those that say "no one cares", there sure are a lot of you arguing about it. Maybe I'm wrong but you people don't need to be rude about it. If you really don't care, don't comment.
What did 0 say to 8 ?
" Nice Belt "
So What did 3 say to 8 ?
" Hey, you two stop making out "
I won't be doing that today!
You take away their little brooms
There hasn't been a post all year!
This morning, my 4 year old daughter.
Daughter: I'm hungry
Me: nerves building, smile widening
Me: Hi hungry, I'm dad.
She had no idea what was going on but I finally did it.
Thank you all for listening.
Itโs pronounced โNoel.โ
After all his first name is No-vac
What, then, is Chinese rap?
Edit:
Notable mentions from the comments:
-
Spanish/Swedish/Swiss/Serbian hits
-
French/Finnish art
-
Country/Canadian rap
-
Chinese/Country/Canadian rock
-
Turkish/Tunisian/Taiwanese rap
There hasn't been a single post this year!
(Happy 2022 from New Zealand)
Bob
Just to clarify, 12345678
I was just sitting there doing nothing.
Me grabbing a soda from my (what I thought was) half full 12pk...
Notices there's only 2;
Me: "Awe man... This is a damn bird box!" Her: "What the hell does that mean?!" Me: (Pulls both cans out & shows them to her) "It's only got Toucans."
I'm not ashamed to admit the look on her face was glorious.
So that I could frequently say, "I am going to walk 5 miles now."
โBOOMโ?!
Because his Visa didnโt work.
"That's what they're fighting about."
free
