Posts Tagged ‘Alibaba’
Why I Don’t Want To Own Alibaba?
Jack Ma is a good story-teller. Investors, especially western investors, like good stories. Indeed, if you are told that you can own the only publicly traded company that gives you a direct exposure to the formidable Chinese export machine, a P/E of over 250x is probably not going to hold you back. With a little bit of the love from the underwriter, our firm actually got a small allocation. But I insisted that this was a “buy and flip”.
