News accounts have Petrochina (PTR) now having a $1 trillion market cap. I am not sure if that is accurate given the selloff in the Hong Shares and the ADRs but is it the end of the road?My immediate reaction to this news, and I have seen the same elsewhere, was to think of Cisco when it was the largest company in the world with a $500 billion cap for about ten minutes in 2000.
I don't know if it is the end of the road or not but it does seem to be similar to the tech story.
Before anyone gets on me saying the fundamentals of China yada yada, the "fundamentals" of tech were just as compelling back then.
The picture actually is the end of the road, Highway 137 on the Big Island, which was overtaken by lava near mile market 22.
10 comments:
last night at the european open on cnbc, they said petro was worth more than xom and ge combined, even tho xom had 8x revenue of petro.
charlie
If $1 trillion is right then that makes sense.
Henry Blodget says this one is going to $400.
Roger, are you related to chicken little?
Every other blog piece is something about "the sky is falling".....
I guess a stopped clock is right once in a while, so eventually you may get one of these calls correct......
in the meantime, your permanent bearishness is costing your investors dearly.
Hey Roger,
Just a random question. Know anywhere I can find Indian ETFs or any other kind of exposure to Indian markets?
Thanks
INP is an ETN, I have not researched it all. IFN is a CEF that I have not looked at in a long time. IIF is a CEF I own for a few clients. There are also several ADRs and OEFs.
$1 trillion... lol.
The reason why every other post is bearish is because of the odd state of finances in the world right now... between the U.S. defecits and mounting debts, the sub-prime melt downs, the large influx of money into China (especially as of late), baby boomers beginning to retire on Jan 1, 2008, the Canadian dollar up 67% versus the USD in the last 5 years, and the extreme market turbulence, it may be only a matter of time before the SH!t hits the fan. And that isn't even counting the commodity market or other world currency price fluctuations! So much stuff is happening all at once.
Mutual funds are for losers. says Phil Town.
http://finance.yahoo.com/focus-retirement/article/103822/Mutual-Funds-Are-for-Losers?mod=retirement-IRA
I don't know Phil Town but I own mutual funds. I wonder some one can give their takes on the pros and cons of mutual funds, fee-based investing and DIY with stocks only. Let us assume most of us are just average smart.
I think you meant "mile marker 22", very nice typo anyway, I think I will remember to look for mile market when I navigate the world of investing.
Vincent.
Anon 5:28.
Here is a blogger with the same negative mutual fund slant:
http://tinyurl.com/3culqt
You may want to learn more by ordering this book:
http://tinyurl.com/2txkoe
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