(Update Dec08) They released 2008 forecast, here is excerpt.
中金2008年股票策略报告认为，中国A股市场高估值状况将在2008年持续，大盘蓝筹股明年上升空间为30％－40％，并看好金融、地产、零售、钢铁和电力等五大板块的投资机会。
(Original) We are at the end of 2007, and it’s interesting to reflect how the market did, how our portfolio did, and how the analysts did (to forecast the market).
In the begining of this year, I have the oppertunity to read this CICC 2007 investing strategy report (PDF file here). CICC, China International Capital Corp, 中国国际金融有限公司, is striving to be China’s own Morgan Stanley. The reason I posted it here is not to evaluate how the CICC analysts did in terms of forecasting, but rather to help our own self-reflection: what went right, what went wrong? Hopefully we will be better investors as we continue to learn,…
