It has been over a month without any updates. I have not had any new good long term picks, that I consider undiscovered and worth mentioning here. But, I would like to provide an update on a few stocks, that have been mentioned on this blog before.
First of all, an update on my favorite stock of 2007 - Harbin Electric Inc. (HRBN):
Harbin Electric Inc. presented at Roth China Conference on November 29th, 2007. You can listen to the presentation, which also contains slides, from here -> http://www.wsw.com/webcast/roth14/hrbn/. There is really nothing new to report on this company. It just continues to be a great performer in 2007.
This is the my original post on HRBN from January of 2007: http://undiscoveredstocks.blogspot.com/2007/01/hrbn-harbin-electric.html. Back then, the stock was trading on OTC:BB at $8, practically without any volume. What do we have today (less than a year later)? It closed at all time high of $22.54 on pretty good volume for this low float stock. (nearly 250k traded). The volume has been on a rise in the past week, as the stock began its move towards new highs. So far, the total gain on this stock is roughly 181% so far this year, and I still believe it has a great potential in 2008 and beyond.
Quick update on what I believe might become the stock of 2008 - Asia Automotive Acquisition Corp (AAAC.OB, AAACW.OB):
There is a big investor (Jeff Feinberg), that's been buying the shares of AAAC.OB almost on daily basis for the past month and more, and has now accumulated 20% of all O/S. All filings are here: http://www.sec.gov/cgi-bin/browse-edgar?company=asia+automotive&CIK=&filenum=&State=&SIC=&owner=include&action=getcompany.
You can also check that he has 20% of O/S from here:
http://www.sec.gov/Archives/edgar/data/1088219/000091957407005742/d835788_13-d.txt
Just to give you an idea of what his last investment did - take a look at the CSCA.OB -> he has been accumulating this one as well, and, according to the latest filings now has over 38% of O/S. The stock (CSCA.OB) has moved from $7's to over $13's in a short peroid of time and has been steady at that level.
For more info on AAAC.OB, please go back to my archives for October and November of 2007, and read a summary of my DD from October that was published on SeekingAlpha -> http://www.seekingalpha.com/article/51672-eye-on-asia-automotive-acquisition-corp.
Finally, there is another stock that is worth mentioning here, as I believe this one could be a great long term hold. It does have a decent volume, so I can't say it's undiscovered, but at the same time I believe it has not reached "Discovered" level either. The company is China North East Petroleum (CNEH.OB). I will provide a small summary on this a little later tonight or tomorrow.
Good luck and remember - always do your own DD.
Wednesday, December 12, 2007
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