Harleyman,
I apologize for my post. It wasn’t fair to criticize those who look for approval for their successes among those who also post on this board. After I made the post I wanted to take it off but wasn’t able to. So, again, to you and anyone else who shared your successes – I apologize for my rude behavior.
This stock has been a real learning experience for me. I have been involved in the market for a number of years, but this is the first time I’ve ever found a stock that should take off but has done nothing in the time I’ve owned it. I used to laugh at the talking heads who said that there was such a thing as an ‘out of favor’ sector or market, but now I realize that this is true. Chinese stocks (for some reason) are out of favor, so even a ‘best of breed’ stock like this one has to suffer until the market for Chinese stocks turns around.
I decided to buy this stock nine months ago not only based on its fundamentals, but also because of anecdotal evidence. I live in China, so (of course) I have become close to a number of Chinese. One thing that has always struck me is that the Chinese are happy to spend almost an entire month’s income on the newest, greatest cell phone available, as well as the hottest accessories that go with their cell phone. I think that this is crazy: my cell phone cost me about $100 and does what a cell phone should do (text and make phone calls), but the Chinese are more than willing to spend 2 or 3 times what I did on their cell phones.
This led me to question myself: what sort of company could make money off of the Chinese craze? Since I already owned AAPL, I decided to buy shares of a company that would benefit not directly from purchasing a cell phone, but, instead, indirectly from their purchase here in China. This led me to try to find companies that seemed to be setting themselves up in a good position to make money from the market here, and helped me to find NEWN.
So, I found this stock from the “One Up on Wall Street” principle: go with what you know and see everyday. Hopefully Mr. Lynch’s ideas on making money still work today for all of us…
