e chang

The Journey Back to Ctrip

I owned some CTRP since August 2005 (13.75 split adjusted). Sold some over time but the remaining shares grew right back. Never thought of buying more because the valuation seemed high for a long time. You may be right in that this may be a good opportunity to add a little.

Select Chinese Stocks Have a Way to Go

I have 3 of the 5 stocks you own (FMCN, CTRP, GOOG), and only recently dumped GS, possibly to buy back sometime down the road. I also like CHL. Nevertheless, I think your lack of at least a modicum of diversification will burn you. How long have you been investing in stocks? The "smartest guys in Silicon Valley" also started many of the internet companies that crashed in the tech bubble. CTRP is expensive.