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Let's agree to agree... but totally miss the point

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March 14, 2007 – Comments (1)

So, yesterday in this quick take, I suggested that Tom Online was being snatched from shareholders at too cheap a price, because the parent company, by its own admission, no longer found public investors convenient. And since that parent company controlled the publicly-traded subsidiary, it could basically do whatever it wanted.

 

This, I say, is a cautionary tale about investing in China. There are dragons there, and they are concerned with staying on top of their expanding pile of gold. If you want in, you are likely to be treated like a sneaky little hobbit.

 

So, it was with much amusement that a received the following email from someone who understands the issue, but completely misses the point. I figured it would be a shame to not share this kind of lapsed logic with the rest of the world. 

 

From: Patrick Lin

To: Seth Jayson

 seth,

  as much as you have good intentions on your article and have some background on chinese stock, imho you're falling into the typical journalist syndrome and looking at what is written vs. what's really going on.    the truth is that Li Kai Shing knows more about making money than you and the rest of the motley fools all combined.  there's a reason why he wants to take TOMO private, it's because it's undervalued and he's going to make a killing by owning all of it vs. just 2/3 of it.  so why would he say all these negative things?  because if he said all the wonderful things about TOMO, shareholders would not want to sell to him?  see, he's very smart.  by saying bad things about china and the space, he'll scare people into selling their shares...and at a better price.     there's an old saying about doing "what i say" and not "what i do."  in Li Kai Shing's case, do what he does...and don't fall in the trap of being a dumb american journalist and hear what he says...do what he does, but only if you're trying to get really rich, smart, and wealthy like him.   sincerely,   buzz

 

1 Comments – Post Your Own

#1) On March 14, 2007 at 9:57 AM, TMFBent (99.81) wrote:

Oops, I forgot to link to the cause of all the hubub. It's this here Quick Take.

 

Sj

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