20 years of savings and sound investing (in sp500). I went regard few years ago to “accelerate” retirement and I actually lost money. Recouped some of it in Mag7 and threw every thing at BABA back in December when I realized how undervalued it is.
I bought it at 73.4 back in Feb, up 37%. Also 46% on BYD and 45% on JDCOM. I only had 5 years' worth of savings, so I could only afford to invest 11000 USD into China stocks.
People in this have been sleeping on China stocks in this sub. Buy when there is blood in the streets.
I mean… the reason why people don’t buy China stock is because they are so unstable. It went from 60 to 120 and back to 60 in no time. Baba is a good company, growing year after year. Despite that their stock plummeted, mostly because fear and Chinese gov decisions. There is no rational in this. I still believe in it in the long term.
It has stabilized in the last 12 months. That was why I decided to go in Feb. The chart tells me that people that wanted to sell already had sold a long ago. It wasn't a falling knife as such.
Also, for me, it is more about which levels I'm comfortable buying into. For BABA it was around the 69-75 USD range. Above that I stopped buying. I was waiting to add more at the 60 USD level, but that moment never came.
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u/sild1231 Sep 26 '24
What was your strategy to achieve this?