Thursday, June 07, 2007
Latest on Tomson (258)
There's rumor which has since been confirmed by the company that it's under investigation for price manipulation, creating a false market for its ultra expensive Tomson Rivieria. I'm bemused by this development because it's quite obvious to anyone that there's NO market for TR at the asking price. Only 3 units have been sold and so there's hardly any 'victim' to speak of. The local government may have gotten its priority wrong too if its aim is to protect those who can afford RMB130,000 per sqm apartment, a sector irrelevant to the daily life of 99% of the population. This makes me think the investigation is more of a gesture than anything. There may be a slap on the hand, fines in the end but I see no more harm done to Tomson.
DISCLOSURE: I hold 258 at time of writing.
DISCLOSURE: I hold 258 at time of writing.
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Abacus,
A friend working in media told me that 258's high profile luxury image is not welcomed by local government and media, so there is not surprised that 258 is targeted.
Maybe some can take this opporunity to accumulate it in this situation because its downside is limited.
What do you think?
BTW, I am not holding 258.
A friend working in media told me that 258's high profile luxury image is not welcomed by local government and media, so there is not surprised that 258 is targeted.
Maybe some can take this opporunity to accumulate it in this situation because its downside is limited.
What do you think?
BTW, I am not holding 258.
What do I think? My action speaks louder than words.
No matter how you calculate the value of Tomson Riviera, 258 is grossly undervalued. Treat it like buying a luxury apartment at a fraction of its price.
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No matter how you calculate the value of Tomson Riviera, 258 is grossly undervalued. Treat it like buying a luxury apartment at a fraction of its price.
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