United Microelectronics Corp (ADR) (UMC)

fojaha (< 20) Submitted: 6/22/08 6:28 PM : Start Price: $2.91 UMC Score: -15.63

Taiwan index.cheapest and worst performing index in asia, Posibly the worst in the world.Jim Rogers newest investment. Data stream Taiwan index has p/e ratio of 12.8, China A shrs p/e 20.9 and US index's p/e 17.7.cheapest major stock index in the world, comparing its current median p/e, p/b,& div.yield with historicle norms.Political outlook is changing. Tourisium will be allowed soon between china & Taiwan. Still illegal to invest (taiwan to china &vise-versa, but that could change soon. Now mainland residents can invest in Hong Kong. The change sent the Seng index up 55% in 10 wks.With the political climate changing, Beijing may ease restrictions.UMC is a foundry, it doesnt need to invest in r/d, no need to spend money on marketing or retail,it just makes the stuff.The public is not going to stop wanting their gadgets, just going to want more and better. UMC has plenty of cash flow, its going to be around for a long time.While waiting for grouth collect the div. 6.5% presently. My book keepper can worry about the tax. Thats his province not mine.

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