I Actually Have a Passport


Human nature by default is not very encouraging.  The majority of people would rather watch a train wreck then beautiful scenery.  The majority of people would rather watch you fail than watch you win.  This is a fact, sad but true.

One thing that you should always remember: Winners love to see people win and will always be winners… Losers love to see people lose and will always be losers. 

You’ll find as you get more successful the “losers” come out of the woodwork and try to take you down to make themselves feel better.  I promise you though there are many good people out there, you just have to find them.  When you find them, learn from them and share ideas.  There are no gods or gurus out there. 

Let’s talk about China for a bit.  I received a number of tweets in the last few weeks, many of you have noticed some of the hatred coming out of nowhere.  Some of the most ridiculous tweets I receive are on China.  One of them was from a guy who I actually respected, until he openly attacked me basically saying I knew nothing about China.  …yet I travel to China at least once a year (at least), and I’ve been investing in foreign markets for years. I’ve also consistently booked returns over the last decade investing in the market. 
We caught the bottom of the market, including China. We rode it all the way up.  For example, I bought $PUDA at 30 cents, he shorted it at $7, and it went to $10.   Out of spite?  Who knows, he shorted $NEP at $8 calling it a book cooker…  Sweet.   I think the list of wins we’ve had this last year are countless, many of them China based.

Another anti-China tweet: “Chinese Lotto: Any and all Chinese stocks. Most are nothing more than card tables in a fetid Mandarin alley.” 

Brilliance I tell you!  I know it sounds harsh, but guys like this are a dime a dozen.  I bet he watches Fox News, he doesn’t own a Passport, he gambles, he’s unemployed, he may believe Iraq has weapons of mass destruction, and he still believes the U.S. is the #1 economic power in the world.   

Get out of the bubble guys.  You’re wrong about China.  Not all China stocks are scams and not all Communists are evil.  You need to get your heads out of your arses, or not, your choice.  

Not ALL China companies are good either.  In fact I would venture to say that most of the China IPOs that are coming out now are garbage, I’ve seen many, I get calls all the time from all the major firms who help build awareness for these new China companies.  So far, touch wood, I’ve been pretty good at sifting through the garbage and finding the winners.

Keep in mind, most American IPOs are garbage too. Yeah, that’s right, I said it.  MOST IPOs in general are garbage.  

I was looking at my RRSP today.  I found my MEE is still there. I bought this stock at $12.35, and Massey is now around $50.  That’s nearly 5x from where I bought it less than a year ago, and it’s American.   My point is we saw a bottom like we’ve never seen in 2009 on all stocks — but especially American ones, we’ll probably never see it again…   
So where do you think some of the China stocks we’re buying will be in a year?  I guess we’ll see.  People are just catching on!  Jim Cramer isn’t there yet, but he will be… and when he is the herd will follow.  

BTW, I do believe there is risk in investing outside of North America.  It’s always the case, that is why 30% of my portfolio is China.  It’s always best to mitigate risk.. but mitigate risk does not mean wearing blinders and being ignorant to what’s happening around you.  Wake up, put the beer down, broaden your news beyond the bubble.. Invest in a satellite dish and maybe watch CNN Asia or the BBC.  There are things going on outside of the country that you should be paying attention to.

As I always say, luck is for losers, so I won’t wish you luck… but I will wish you well.  Take care, and thanks to all of you who continue to support us regardless of the noise!

disclaimer: I am long many China stocks, but I am also long some great American and Canadian stocks as well.  While it may seem as if I’m generalizing on the people who are bashing China, it’s sort of a joke – sort of not.  I truly believe ignorance is one of your biggest enemies when you’re investing. Other very big enemies are pride, hate, and ego.  Put all of that BS aside and you may improve your swing. I watch Fox News sometimes too.  



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