China Growth Stocks

[rru2s]

AMCF: dilution prevented 5Qs EPS growing.
While it's nice AMCF has been growing revenues, I don't like the fact they do it in a way that the sharecount manages to grow just as fast so the EPS is still at 0.27-0.28 after five quarters.

Second, it might be true, but on the surface I am not as easily convinced that China's demand growth for maritime fuel consumption is quite as robust as land-side demand petroleum consumption growth. Fewer factors - landside you have factories, coal companies, cars, and trucks increasing demand, while seaside you have cargo and fishing ships, and as far as recreational boating, I think that industry is in its infancy days and won't start to represent a big percentage of the total consumption of maritime fuel for some time.

Third, I think the expansion of marina fuel supply is more difficult based on geography - with landside fuel storage you have 360 degrees of customers; while maritime fuel supply you have to be near a port where there is strong shipping industry - cargo or fishing.

So for now I'm sticking with landside wholesale distributors, as I think AMCF will grow more slowly and at higher acquistion costs relative to landside companies. JMHO.