50% Moves In Chinese Stocks | The Acquirer's Multiple®

In their latest episode of the VALUE: After Hours Podcast, Scanlon, Brewster, and Carlisle discuss 50% Moves In Chinese Stocks. Here’s an excerpt from the episode:

Tobias: Speaking of things that are ripped, Alibaba, back from the dead. Charlie Munger, this year, greatest investor ever.

Bill: Yeah. Smartest man alive.

Tobias: I think it’s up 10% today or something crazy like that.

Bill: Well, I’m just glad it was margined. His position was up like, what is it?

Tobias: 12.65 now, today.

Kyla: Just today? Do you know what the China internet sector is doing?

Tobias: Give me a–

Kyla: I think it’s KWEB.

Bill: KWEB?

Tobias: ED–. Yeah, KraneShares, that’s 9%. Yeah. Coming up on nine.

Kyla: Man. Last week, that was down with 60%.

Tobias: Wow.

Kyla: Yeah. Oh, man. Yeah. Really big moves there.

Tobias: Yeah. It’s up almost 50% since the bottom on March 14th, Monday, last week.

Bill: This chart is stupid. This is something that I do hear for those on YouTube that want to see it. Go from 100 down to 31 and what was it last week? It was down at 25 or whatever. I could see how if you were a China focused investor, you might argue that things have gotten disconnected from reality. Yeah, it hit 24. Geez.

Tobias: Yeah, that’s a big run over a week. That’s a 50% run over a week. It’s 21 bottom on March 14 to 31 today.

Kyla: The weird thing is, is all they did was come out and be like, “We’re going to take care of it. Don’t worry.” There wasn’t really anything that– [crosstalk]

Tobias: People have a lot of faith in the Chinese government.

Kyla: Yeah.

Tobias: They believe they can do.

Bill: And they say like 10 times, though.

Kyla: [laughs]

Bill: So, that matters.

Kyla: Oh, my gosh.

Tobias: What’s the significance of saying it three times?

Bill: I don’t know. It’s like a wish. [crosstalk] You say it three times, something happens–

Tobias: In the mirror.

Kyla: Yeah, better.

Bill: Yeah. Bloody Mary comes out. No, it’s still down 66%. I’m pretty sure that’s how the math works. So, it hasn’t been great.

Kyla: Yeah.

Tobias: Baba is still down or [crosstalk]?

Bill: Oh, I don’t know. I was talking about that KWEB.

Kyla: Yeah, Baba– [crosstalk]

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