There is only so long that the investor class can hold onto a great fear. The fighting goes on in Lybia, and the Japanese continue to suffer from the tsunami/nuclear catastrophe, but it seems we have all got used to it. In retrospect I can see that I am unwilling to focus on whether and how much money I am winning or losing when I am watching people suffer.
Happily, one of our holdings has started to skyrocket. This is the Chinese company Telestone, which has lately been attacked by an "anonymous blogger" with the kind of accusations of fraudulence which are fashionable. Thirty percent of the stock is held by short sellers, but they are about to come out with earnings. Somebody knows whats going on, it seems, and the shorts are now scared. Hurray!
Generally, I hold a lot of Chinese stock, and it is not doing well at all. I plan to hold.
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