You do not exactly understand. It's an iron company, the backbone of any economy. You will not find such gains in the same stocks in developed nations. In US you need to go for long shot high techs and bio techs to get similiar returns. And even those are slowing down a lot, need something new to be discovered. In China and Russia, the industrials,energies and utilities have provided sick returns. These are the first phase industries that begin the start of developing nations. Then the second phase stocks like manufacturing, retail, consumer goods will do the same, then the next up to the high tech/bio tech or whatever the next new industry will be.
Look at how dirt cheap you could have bought that in 1999-2000. This stock can still multiply over the next 10 years. Amazing
tmb- its not just one stock, I just posted this as an example. The actual H-share index (China companies listed in Hong Kong) is up around 100% this year (with an est.2003 P/E of 12, and 8% yield). mecro - we may be saying the same thing in 2006 about what the price is now. I believe Chongqing is trading at aound 5x est2003 earnings.