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gg117

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  • SouFun Holdings: More Pain For Now But Still Worth Considering Over Long Term [View article]
    Disagree about the following here
    " Leju Holdings (NYSE:LEJU) as its nearest competitor makes SFUN look like sunshine.

    Leju has no dividends yet and has only recently turned profitable in 2013. If both of them are to suffer the same economic downturn in China's real estate market, SFUN comes out on top, NO question."


    I see lots of questions.
    Leju's got the offline support setup through EJ, Sfun is buying their way into agencies.
    Leju's growth has been very strong while Sfun's margin is shrinking and growth is slowing down significantly.
    Leju's got strong investor in Tencent, I'm not sure who Sfun has as a investor..but it seems to be a pretty big factor now in China as the 3 giants (Tencent, Baidu, Alibaba) are making strategic investments across the internet industry.

    Don't get me wrong about SFun. check my previous comments and I like the company alot. I just don't feel like not asking questions and say it's "sunshine" comparing to its competitors. Some arguments could definitely be made here
    Nov 4, 2014. 06:10 PM | Likes Like |Link to Comment
  • SouFun: 65% Upside On Great Growth And Far-Fetched Fear [View article]
    Yup, Shenzhen/Guanzhou are considered T1s along side Beijing/Shanghai.
    Oct 21, 2014. 07:12 PM | Likes Like |Link to Comment
  • While Leju Holdings Ltd. Shows Long-Term Promise, Immediate Shorting Opportunity At Lockup Expiration [View article]
    Thanks for the article and the reminder. I was actually worried about the lock-up expiration, but seeing the numbers that EJ and Tencent owns almost all of the 122million shares, I'm not too worried.
    My reasons:
    Selling shares in a fast growing company does not make much sense. You could see from EJ's last quarter report that majority of the growth is coming from the Leju division.
    Cash and current assets: Ej has 600 million USD current assets on its balance sheet. They have been generating cash and I see no need to raise additional capital.

    Tencent's holding: Tencent is now the second largest internet company in China. They have invested heavily in all kinds of fields, including video streaming, banking, e-commerce, gaming, travelling. Online real estate is just one of their investment for the long term and helps them capture different fields. With their recent investment strategies, it is unlikely for them to sell any shares in this high growth opportunity. Maybe they'll acquire more from EJ? That would be my guess.

    Overall, the market condition for Leju/EJ is not great; however Leju has restated its guidance and is building platforms to take any advantages from housing market growth. The price might be drive down by short sellers, but I think the majority shareholders, EJ and Tencent, will not be shares after the IPO lockup expiration.
    Oct 9, 2014. 12:37 PM | 1 Like Like |Link to Comment
  • Alibaba Is Coming Like A Freight Train [View article]
    compliment!
    Oct 2, 2014. 01:08 PM | Likes Like |Link to Comment
  • Comparing Alibaba To Other Tech Giants [View article]
    First, let me get this right. Sorry for calling you ignorant; I wasn't thinking straight when typing that; hoping you accept my apology and forgive me for using a bad word. After all English is not my native language.

    Here's my response

    I don't see how you assume you got your points acrossed there. Your first 5 points are all pointing toward this been a Chinese company. So Baidu, Tencent, or anyone on the us market with VIE structure(which is basically every Chinese company) are just too risky to invest? I'm sure the original Baidu or tencent or qihu investors don't agree with you. Ofc the Chinese companies had its bad moments with sino forest and other accounting issues, but we are talking about the biggest, the most visible and soon to be the most profitable one out there.

    Also I did not mention anything about technology, but rather use attach-ness; people buy and sell on Taobao as probably the only viable and safe way of online shopping in China. If you are saying Taobao's such an old technology, then what about Facebook? A few Chinese engineers were able to copy Facebook and built Xiaonei(now renren)/xiaoyuan 5 or 6 years ago within weeks; I'm sure that technology is amazing, but without users, would it matter?

    And you did not answer most of my questions. Have you ever talked to your colleagues in Xiamen about their shopping habits? Since you work in a technology firm, I'm assuming those people do as well. So it's easy for you to ask where the middle class Chinese shop now by having a simple after lunch convo with them.

    I don't know how much time you spent on searching for that one watch on Taobao, but if you look at the item itself, the historical orders are none(showing none for me, maybe it shows for you as I'm at a hotel in Eastern Europe and internet is slow at best), that doesn't really validate your point.You list on Taobao for free; they get a cut when you sell. You had one item out of I don't know how many millions of legit items on Taobao that the Chinese are actually buying and ignoring those legit items. Also when you try search in Chinese, which I assume 99.9% of the Chinese population do, the words like "Replica" or "fake" gets sensored.

    Btw the new balance page, the first item selling for about 70 USD had 4500+ orders in this calendar month; click on more and see it yourself.

    Aliexpress is another thing; the transaction amount on that platform is insignificant comparing to Tmall or Taobao(source: ipo filing). I've never used it and since it's selling mostly abroad I think it's not receiving the same attention in terms of fighting counterfeits. Still when I search for Rolex, all I see are third party links and no watches (knockoffs with a brand pasio is another thing I see). And that pair of shoe, it's got 0 feedback, meaning it sold 0 pairs. I've seen football jerseys that are counterfeits, scarfs that are fake burberry, but they just don't have anywhere close the volume taobao and tmall has.

    One of your major point is Taobao sells nothing but counterfeits, and for me that point is really invalid based on all the evidence and links I have provided, instead of this one link you had on (2014 fashion classic roman numbers watch men's leather watch). For me that's facts. Just to make it fair, I went onto Ebay and searched Rolex replica, guess what I found. http://ebay.to/1rtmZSK

    If you are uncomfortable with tie VIE structure, I totally understand and feels it's the right thing to do for you not to invest things you feel risky. I just want to get this one point acrossed. Taobao/Tmall is no longer the counterfeit heaven it was 3 or 4 years ago. It is now the largest e commerce site in the world, it sells everything from qtips to laptops, pineapple juices to tyres, and it'll grew bigger in size with the expansion into 2nd/3rd tier cities in China, and globally in S.Korea, Malaysia, and even North America.

    One last point about counterfeits. Where are the Chinese people buying counterfeits now? Weixin, or wechat as America knows it.

    http://bit.ly/1rtmY13

    Again I apologize as I feel we got off the wrong foot here. Hopefully you'd try understand what I'm trying to tell you as well as everyone else here. Enjoy your weekend.
    Sep 27, 2014. 05:53 PM | 2 Likes Like |Link to Comment
  • Alibaba Is Coming Like A Freight Train [View article]
    just like 6012 works for a hedge fund.
    Sep 27, 2014. 10:38 AM | Likes Like |Link to Comment
  • Comparing Alibaba To Other Tech Giants [View article]
    So in your own opinion you are a Chinese expert? Then I got a few questions for you

    Have you seen how the locals shop?
    Have you seen their delivery services(kuai di)?
    Have you ever bought stuff from taobao? Could you please still address "just go see yourself"? To help you out:
    Could you go on Taobao.com and search for counterfeits(高仿)
    if you are too lazy, I'll post the link
    http://bit.ly/1rqTXly

    Now try search for a brand(gucci, chanel, etc)
    http://bit.ly/1rqTXBO
    http://bit.ly/1rqU0xv

    Did you also know they had Tmall.com which are the online stores owned by brands themselves?
    Estee Lauder
    http://bit.ly/1rqU0xx
    New balance
    http://bit.ly/1rqTXBQ
    and so on.

    Now if you talk about designs and IPs, then it's a different story. Chinese brands tend to just copy designs from luxury brands, but those are not considered counterfeits because they aren't selling it under Chanel or Dior logos, for example, stores in Tmall
    http://bit.ly/1rqU0xA;pm_id=

    It's great you've been there 20 times and have conference calls and have a team of over 300 ppl over there, but I'm going to guess you live in the hotels and eat around your work place and never really experience what the locals lifestyle. I strongly recommend, for investment in Chinese internet companies, try talk to the locals and see what they feel about them, or rather, try use it yourself.

    As for the HK denial, if Google or facebook (both dual class structure) wants to list there, they would have the troubles too.

    One last thing, Taobao literally creates millions of jobs in China, now think how big China is, and think again how big Alibaba is.

    Here's what Li Keqiang, the premier of China has to say about Alibaba

    http://bit.ly/1rqU0xC

    虽然公司只有两万五千名员工,但在淘宝网开店的...

    This basically says stuff that go through Taobao/Tmall counts approx. 10% of the entire Chinese retail space. 1.3Billion people, 1.3 BILLION.

    “虽然公司只有两万五千名员工,但在淘宝网开店...

    “900万家店,那至少带动上千万人就业。要是...
    Sep 27, 2014. 10:21 AM | Likes Like |Link to Comment
  • Comparing Alibaba To Other Tech Giants [View article]
    Define "most"

    nvm, I should not argue with someone that is ignorant and just bashes baseless. All your source is "Go see yourself". If that's all you have, then I should say, go live in China for 1 year and see for yourself.

    edit2: You can short this with a .5% interest, go ahead.
    Sep 26, 2014. 04:20 PM | 1 Like Like |Link to Comment
  • Alibaba now indicated to open in $87-$89 range (updated) [View news story]
    and its 88-90 now..
    Sep 19, 2014. 10:59 AM | Likes Like |Link to Comment
  • Alibaba now indicated to open in $87-$89 range (updated) [View news story]
    220B company....this is tough
    Sep 19, 2014. 10:57 AM | 2 Likes Like |Link to Comment
  • Alibaba sees first indicated opening range of $80-$83 (updated) [View news story]
    87-89...if you didn't get yorus at the IPO price, its really getting expensive
    Sep 19, 2014. 10:55 AM | 1 Like Like |Link to Comment
  • Alibaba sees first indicated opening range of $80-$83 (updated) [View news story]
    86-88
    Sep 19, 2014. 10:50 AM | Likes Like |Link to Comment
  • Alibaba sees first indicated opening range of $80-$83 (updated) [View news story]
    84-87 now
    Sep 19, 2014. 10:31 AM | Likes Like |Link to Comment
  • Wall Street Breakfast: Amazon Agrees To Purchase Twitch For $970M [View article]
    Great way of you seeing Tim Hortons. They for sure arent losers. Not sure if the same can be said about BK since I don't see many stores in Canada.
    Aug 26, 2014. 11:06 AM | Likes Like |Link to Comment
  • Alibaba Eyes Used Cars, Korea, Mid-Sept IPO [View article]
    I would.
    People tend to think the company's growth has slow downed a bit, however the e-commerce centric business model has just began imh.
    China's urbanization progress and planning of expanding it's third-fourth tier cities would greatly benefit e-commerce. Right now there are still more than half of the provinces in China that doesn't have a logistics system that is closely comparable to Shanghai, Jiangsu/Zhejiang province, Guangdong, or Beijing. Those are some huge market. Also abroad, Alibaba/Taobao/Tmall have been making big steps in SEA, and even US market. Those will contribute to its growth significantly too.

    It could expand to much wilder markets, not just limited to everyday merchandise. People would be able to shop for cars, homes, vacation packages, afterall, Taobao is a advertising platform. They have already dominated the biggest internet market in the world, and they will have the resource to take shares from every part of the world.
    Aug 19, 2014. 02:36 PM | 1 Like Like |Link to Comment
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74 Comments
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