Independent Research, Turtles all the way down

Turtles all the way down

Independent Research

Writing short articles about mis-priced boring stocks around the world.

Equity Bottom-Up

<ul><li>I mentioned Noah holdings as a trade to buy before earnings since I anticipated an announcement of significant capital returns.</li><li>This has worked out well with over $2 in dividends announced. Half of that dividend will be recurring.</li><li>So I sold out all of my shares at just under $12. This was never a high conviction investment, but merely a trade. Marking it as a 18% return.</li></ul>

I mentioned Noah holdings as a trade to buy before earnings since I anticipated an announcement of significant capital returns.This has worked out well with over $2 in dividends announced. Half of that dividend will be recurring.So I sold out all of my shares at just under $12. This was never a high conviction investment, but merely a trade. Marking it as a 18% return.

<ul><li>Since my last order filled today, here is my write-up on a special situation in Hong Kong.</li><li>Stock is NVC International holdings (NVC ticker HKG:2222) .</li><li>A Hong Kong nano cap stock. And it is quite illiquid, so beware.  I first learned of it through a Tweet from Writser .</li></ul>

Since my last order filled today, here is my write-up on a special situation in Hong Kong.Stock is NVC International holdings (NVC ticker HKG:2222) .A Hong Kong nano cap stock. And it is quite illiquid, so beware.  I first learned of it through a Tweet from Writser .

China

NVC Lighting Holding Ltd designs, manufactures and distributes lighting fixtures.

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