Sunday, November 11, 2018

Hello from The Maldives!.....and today's Quiz....

Geeezzzz.......I leave the states for a couple of weeks and everything goes to heck in a hand basket!.....

Alibaba announced unbelieveable singles day GMV today!  Fantastic!  US$ 31 Billion of socks, underwear, court ordered non-performing loans, failed construction projects and Jumbo Jets in receivership...all sold in one day by the vaunted Alibaba ecosystem!  Bravo! Totally unbelieveable!  This GMV is more than an average non-holiday season month's sales through Walmart's global distribution system ....shipped by Alibaba in just one day!

Amazing!

Keep in mind though that Walmart has thus far failed to monetize the lucrative "court ordered non-performing liquidation asset market" ....I don't see these asset classes on Walmart.com anywhere, so the figures aren't directly comparable.

For their next trick Alibaba management is going to pull a rabit out of their.....屁股

Today's Quiz

Which three publicly traded common stocks have produced the greatest  Market Cap decline (from top to bottom) in history:

Hint....it wasn't Lehman, Enron or even Facebook's hiccup.....and all three are ongoing....

Scroll down for the answer....

First, I've posted a few pictures of the Maldives below to stimulate your thought process. The Maldives atolls truly are paradise on earth.





























Fauna.....(crabs everywhere....cute harmless, curious little guys.....check your shoes before you slip them on.....just sayin')



Flora.....(wild flowers everywhere)



Maldavian heavy industry....OBOR money at work.  USD & Euros accepted everywhere...but nobody wants RMB....hmmmmm.  Interestingly, there's tons of new construction funded by USD loans from China.  Chinese bankers wouldn't be so stupid as to finance long term construction, using US$ with short term swap money run through the Caymans and Luxembourg?  They can't be that dumb....or are they they that brilliant?




























A friend of a friend of a friend's home in Bangalore.  I thought I'd swing by to say hello. Nice place.  He wasn't home.  Should have called ahead.  Security politely asked me to leave....bad timing.  Maybe next time.


Having a Diwali beer in Delhi.......




































Quiz Answer
(as of 7:00 AM 11/11/18 Maldavian time)

The three (3) greatest (ongoing) market cap declines in history are:

1.) PetroChina - US$ 807 Billion
2.) Tencent - US$ 235 Billion
3.) Alibaba - US$ 163 Billion

I think I'm beginning to see a pattern here.....




Calculations/Sources


1.) PetroChina - 2007-2008 - $807 Billion  $1.01 Trillion - $203 Billion
https://www.cnbc.com/2018/08/02/petrochina-did-not-fare-well-after-reaching-1-trillion-in-market-cap.html
https://www.bloomberg.com/quote/PTR:US

2.) Tencent - High - HK476x 9.45B shares = HK4.498T /7.8exrate = US$576B
Low - HK300x 9.45B shares = HK2.658T /7.8exrate = US$341B dif = US$235B

3.) BABA - $211.7 x 2.54B = $537.7 B compared to $145 x 2.54B = $375B = $163B
https://www.bloomberg.com/quote/BABA:US

8 comments:

  1. GE? 30 -> 8, current cap of $70B = $262 billion, right?

    ReplyDelete
  2. This is missing GE which was a 500+B market cap at its peak...

    ReplyDelete
  3. I'm glad you are enjoying the trip. I figured you wouldn't be able to resist following singles day news.

    I think you may have to update your top 3 list. AAPL just bumped BABA with today's decline of $10/share. 52 week high of $233.47 minus today's close of $194.17 times 4.75 Billion shares outstanding. That gave me $186.7 billion decline in value. Either way, your point still stands.

    Safe travels!

    ReplyDelete
  4. Guess the pattern exists if you eliminate a lot of data. Going to have to ruminate on this one for a while. It's unfortunate that no Chinese can match the insight of a foreigner who reads Bloomberg and knows what "pigu" means.

    ReplyDelete
    Replies
    1. Thanks for the kind words "anonymous". Don't underestimate the brilliance of CPC...they've managed to flood the world with fake/mis-rep securities, scoop up $US Trillions of global hard assets using a pegged, toilet paper currency, export the under-priced labor of hard working, some might say oppressed, Chinese people, crippling the Western middle class.....all done with impunity. This truly is genius!!

      Delete
  5. FB? 52 week high at $218.62 to $135 today? That's more than $200 billion...

    ReplyDelete
    Replies
    1. Yup....I had written this from the Maldives almost two weeks ago & Apple, GE and FB all snuck in there while I wasn't paying attention....unfortunately US Companies don't enjoy the financial support of the PBOC/CPC....

      Delete