Archive for November, 2007

LoS Announces Intention to List in Shanghai

PetroChina’s value in US ADR: ~$500bn
PetroChina’s value priced at Shanghai IPO two days later: ~$1,000bn or $1 trillion dollars

Alibaba’s value priced at IPO: $9bn
Alibaba’s value priced in Hong Kong after first day of trading: $26.6bn

Long or Short Capital’s dividend discount valuation in US: $241,315
Long or Short Capital’s valuation post listing in Shanghai: $?? bn

For some time, we have felt that the market was not giving us credit for our Asian exposure. In fact, given the number of times we have exposed our self in Asia and to Asians, we are surprised we have not received more attention, especially from the relevant authorities. Our upcoming Shanghai A-shares IPO should rectify this situation and ensure that we garner the attention and valuation that we deserve.

Quotes Entirely Relevant to Investing 11-04-2007

I’ve always felt that macroeconomics was not economics the way astrology is not astronomy.
M. Hodak of in a post on Marginal Revolution

Past Quotes Entirely Relevant to Investing

Funding Dividends with Dividends

Felix Salmon’s Market Moves blog has seen the light and has created a one-off pseudo dividend policy for his readers, loosely modeled off of Long or Short Capital’s own dividend policy.

This is actually the eighth quarterly dividend that Long or Short Capital has paid, which is all the proof I need that this is an excellent business model. Readers of Market Movers are therefore hereby invited to send an email to, stating the payment that they wish to receive. At the end of this week, the senders of the five lowest bids will receive the sum they requested via PayPal.

While others may pratter on about game theory or strategy, LoS will not bore you to death with any such thing. We submitted a completely dominant bid that will likely out dominate all other bids. Furthermore, in collecting this dividend we can offset our own substantial divident costs and use the money saved to make investments which will generate substantial returns.*

*Disclosure: These returns are contingent on actually making such investments, which LoS has yet to actually do. LoS modeled returns remain substantial and will continue do to so. If LoS modeled returns start becoming insubstantial, LoS will adjust LoS’s model accordingly, until such insubstantial returns are made to be substantial.

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