by Travis Johnson, Stock Gumshoe | October 16, 2015 4:58 pm
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Source URL: https://www.stockgumshoe.com/2015/10/friday-file-more-rate-mania-and-a-fosun-check-in/
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I fully agree . Just bought more DOC and VTR
Concerning bank stocks: Why not considering also WFC?
No real reason, just that the stocks and warrants on Wells Fargo have been more expensive than I like when I’ve looked at them — and I already have some exposure through Berkshire Hathaway.
http://www.bloomberg.com/news/articles/2015-12-10/chinese-billionaire-guo-guangchang-unreachable-caixin-reports
Danger ahead for Fosun?
Maybe so, I don’t know anything beyond what I’ve read in a couple articles this evening. A harsh reminder of how things are different in a totalitarian regime — executives just disappear because they’re being investigated or questioned by authorities (assuming that’s what happened, I’ve seen no official word), and sometimes they’re gone for weeks or months and no one knows anything about what’s happening. Apparently it has happened to a few other high-profile financial executives in China this year. If he actually did something wrong or is convicted of some wrongdoing, presumably it would be very bad for Fosun — he’s the face of the business and has driven their rapid acquisition strategy. Presumably it will have a fast and sharp impact on the share price, it is down 10%+ in the US ADR trading but that’s not where most of the volume is… we may know more when Hong Kong opens for trading.
No dice on that, trading halted in Hong Kong. Best report I’ve seen is from the FT on this so far: http://on.ft.com/1lSYM8N