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SINA is selling off on heavy volume again today, and has basically been lumped with with other Chinese burritos that have come under Muddy Waters type of scrutiny. Last night, The Fly gave a great review of Bill Bishop’s “DigiCha” blog, in which Bishop focuses on internet and digital media in China.
A few days ago, Bishop wrote a post defending SINA as not being just another Chinese fraud in the “red collar crime wave” (Hat Tip: Josh Brown). Click on that link to check out the post and his blog.
To be sure, it will interesting going forward to see which Chinese firms end up proving to be nowhere as ominous as advertised. There will definitely be some excellent bargains out there once the dust settles. They key is making sure that you first do not get caught roasting over the open pu pu platter fire.
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That pic looks like it was taken (by Cronkite) at last summer’s iBC Annual Dinner.
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LoL