Sep19 in US. Asia will have already topped; US may have by then, but that's the date... Jack Ma is a POS charlatan and Alibaba is the WCOM of China. Purchase accounting fraud ready to blow.
Man, CNBC just can't shut up about Alibaba. They sound like a bunch of schoolgirls gushing over Justin Bieber or whoever the pretty-boy flavor of the month is. Completely ridiculous.
Shanghai is down >1.5% on the first trading day after the BABA float. This vaguely reminds me of the Trump LBO attempt with United Airlines. Has anyone here actually gone to BABA's site? A bunch of knockoff shit and contact info for Asian corps? This is the cyclical top. Within a few %.
Agree BABA signals market top. Ridiculous valuation. Would like to see more of the accounting problem.s
"What Are Investors Buying Into? People think they are buying shares in Alibaba China. But actually, while Jack Ma and partners are putting $20 billion into their pockets today from the IPO, the investors are actually getting pieces of paper in Alibaba Holdings Cayman Islands, a so-called VIE (variable interest entity)." Nice thread