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« on: October 15, 2015, 06:59:39 am »
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Jeff Yeh became one of this year’s best-performing Chinese stock pickers by spotting a bubble in technology shares and selling before it burst. Now, he says it’s time to look for bargains.
“Prices are more reasonable,” said Yeh, whose Yuanta New China Fund has returned about 22 percent this year, outperforming 99 percent of Greater China equity funds tracked by Bloomberg. “The air in many bubbles has been squeezed out.”
The Taipei-based money manager is rebuilding his holdings of Chinese technology companies after they turned from bull-market leaders into the biggest losers of the subsequent crash. While tech shares still have the highest price-to-earnings ratios among the nation’s 10 industry groups, valuations have almost halved from their peak in June.
As for the broader Chinese market, Yeh says unprecedented government efforts to stabilize share prices will probably prove successful. He has positions in liquor and entertainment companies geared to the growing spending power of Chinese consumers, along with financial shares that stand to benefit from state support for the property market.
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Good one ..