Charlie Munger Doubles Down On Alibaba
Brendan Ahern, Senior Contributor, Forbes
Oct 6, 2021
... Charlie Munger doubled his Alibaba position in Q3 according to an SEC filing. Mr. Munger’s Daily Journal Corporation isn’t as well known as his other job as Vice Chairman of Berkshire Hathaway.
Reuters noted that Fidelity’s global Chief Investment Officer said the firm is buying Chinese stocks after “indiscriminate” selling while their China PM said he is “putting more money to work there…risk-reward (for Chinese stocks) is stacking up quite well…the IT area is probably presenting the most opportunity right now.”
A Mainland media source had noted a large European asset manager increased its China internet stake though SEC filings haven’t confirmed that.
Remember our air pocket thesis on weak price action is driven by big investors stepping to the sidelines waiting for a green light to reenter the space as China is significantly underweight in global and EM funds...