“Could we have learned from the past experience during the bubble years of 2007 and 2009? Could this time be different? Academic evidence appears unfavourable ......
I have sold my shares of Sun Hung Kai Properties today (Hong Kong stock exchange is open for today).
I first bought the shares in 2 May 2012. So it is about 3 years ago. My realised gain is approx. 71%. Not bad.
P/E ratio is 10.59. Price to Book: 0.86. Enterprise Value/EBITDA: 17.86
I have been feeling uncomfortable about the frothy rallies in China and Hong Kong Stock market. (read here, here and here). Nevertheless, I will not be surprised if the upward trend continues in the next few months. However, there seems to be more quick and abrupt movements in the stock market over there. And ultimately, psychologically, I feel there is more greed than fear in the HK market.
