Down another 12% in Hong Kong last night, now -70.5% from 52 week high there.
Headline trailing P/E under 20, I guess.
I’ve speculated that a good way to play it is with call options, strike prices not super low, as the maximum possible loss is stringently capped.
But at some point the underlying security can be priced like a call option. Exercise price zero and no expiry.
I’m not sure we’re there yet, but we seem to be headed there.
There is a price for everything, even if there is a visible risk of a pick going to zero.
With the appropriate position size, of course.
At some point it would probably be kinda foolish not to own a little. Like BAC trading at $3.50, the current annual EPS.
With the appropriate position size, of course.
Jim