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The Richest Man In Asia Is Selling Everything In China
Submitted by Simon Black of Sovereign Man blog,
Here’s a guy you want to bet on– Li Ka-Shing.
Li is reportedly the richest person in Asia with a net worth well in excess of $30 billion, much of which he made being a shrewd property investor.
Li Ka-Shing was investing in mainland China back in the early 90s, way back before it became the trendy thing to do. Now, Li wants out of China. All of it.
Since August of last year, he’s dumped billions of dollars worth of his Chinese holdings. The latest is the $928 million sale of the Pacific Place shopping center in Beijing– this deal was inked just days ago.
Once the deal concludes, Li will no longer have any major property investments in mainland China.
This isn’t a person who became wealthy by being flippant and scared. So what does he see that nobody else seems to be paying much attention to?
Simple. China’s credit crunch.
After years of unprecedented monetary expansion that has put the economy in a precarious state, the Chinese government has been desperately trying to reign in credit growth.
The shadow banking system alone is now worth 84% of GDP according to an estimate by JP Morgan. The IMF pegs total private credit at 230% of GDP, jumping by 100% in the last few years.
Historically, growth rates of these proportions have nearly always been followed by severe financial crises. And Chinese leaders are doing their best to engineer a ‘soft landing’.
If they’re successful, the world will only see major drops in global growth, stocks, property, and commodity prices.
If they fail, the spillover could become pandemic.
This isn’t important just for Asian property tycoons like Li Ka-Shing. Even if you don’t know Guangzhou from Hangzhou from Quanzhou, there are implications for the entire world.
Here in Chile is a great example.
Chile is among the top copper producers worldwide, China among its top consumers. With a major slowdown in China, however, copper prices have dropped considerably.
Consequently, the Chilean economy has slowed. The peso is down nearly 10% against the US dollar in recent months, and the central bank is slashing rates trying to prop up growth.
There are similar situations playing out across the globe.
Not to mention, China could put the entire global financial system on its back just by dumping a portion of its Treasuries in order to defend the yuan.
Now, you’d think that a major credit crunch with far-reaching consequences in the world’s second largest economy, its largest manufacturer, and its largest holder of US dollar reserves, would be constant front-page news.
But it’s not.
Most traditional investors are unaware that what’s happening in China will likely have far greater implications to their investment portfolios than the policies of Janet Yellen and Barack Obama combined. At least for now.
And folks who don’t see this coming and keep buying at the all-time high may see their portfolios turned upside down. Quickly.
At the same time, some investors who are conservative and cashed up may realize a real ‘blood in the streets’ moment.
Again, using Chile as an example, I’m starting to see over-leveraged property owners coming to the market in droves ready to make a deal. This is great news because my shareholders and I are able to buy far more property with US dollars than we could even just six months ago.
I expect this trend to hold given that China is just at the beginning of its process.
It’s said that the Chinese word for “crisis” is a combination of “danger” and “opportunity”.
This isn’t entirely accurate. ‘Weiji’ can have several meanings, but is probably best translated as ‘dangerous’ and ‘crucial point’.
We may certainly be at that crucial point, and now might be a good time to take another look at your finances and consider selling before a major crash. The richest man in Asia certainly thinks so.
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Smart move Li! Li invests in Bitcoin now.
http://www.techtimes.com/articles/2321/20131229/asian-billionaire-backs-...
Whisper rumor that this dude is moving in with Simon Black in a small waterfront condominium in the Canary Islands.
Guy is bailing out because I am sure he got a lead that they are looking into corruption on his part. He is trying to get liquid and move his money out of the country, cause you can't take properties out with lol
He's Chinese version of The Honorable Jon S. Corzine, but with actual, real wealth accumulated?
Dump broadband!
If he's selling everything, that means he's buying Dollars? Yuan? Yen? Euros? That seems kinda dumb...
@ tengri So this guy acting in his self preservation could detonate the Chinese housing bubble no? Black swan?
Isn't Uncle Warren in cash...or larget cash position ever?
This Li guy personally called Simon Black to let him know that he's dumping all his holdings and going off the grid.
Li wan ot
does he have a daughter i could marry..for the right price?
Yes - Li Me Bhe
Check out d-bag Krugman -
Paul Krugman: Why We’re in a New Gilded Age http://billmoyers.com/2014/04/16/paul-krugman-why-we’re-in-a-new-gilded-age/.....i think you meant
gelded age
Does he overpay for his Gold ?
Well he is keeping his gold Pandas....he's not that crazy.
Soul...., please. Do you really think my life is long enough to go read about what Keynesian Krugman has to say on communist Bill Moyer's site? Really? Why would I want to soil myself so?
Fuck reading anything by Krugman that's that long.
I'll assume the theme is: "printing money is great. Janet Yellen's dick tastes like an ice lolly."
I'd rather punch myself in the balls than read anything Krugman has to say.
Or maybe Mr. Li will buy all the gold in Peru...
(Warning: some of this could be construed as "gold porn")
"Gold News and Pictures from Peru"
http://tinyurl.com/nndg7dt
Wait as I go all Homer Simpson:
"Mmmmm! Dirty gold bar porn. Mmmm!"
(Thanks, Do Chen!)
strannick If he's selling everything, that means he's buying Dollars? Yuan? Yen? Euros? That seems kinda dumb...
----
So how do you pay for day to day living expenses?
He will buy it back cheaper, buying gold with the difference. The Asset price may drop further but will drop less than the currency.
Bitcoin. $30bn dumb.
mineset hacked
jim sinclairs website
He's staying ahead of the game. The crash won't be all at once. It will be a wave. Stay in front of the wave (move wealth internationally) and stay in the game.
Even here in ZH they have figured out how to create class warfare. were fucked.
Could have sworn I commented on this thread.
I think I just had my first deletion!...lol.
post psyop letdown?
Li needs the cash so he can invest in that bridge in Brooklyn I'm gonna sell to him.
The one with the crafty hobos living in it?
Yep, but believe it or not, there's 2 million dollar condos across the street and welfare housing projects a few blocks away.
Sounds like my neigjhborhood, only it's way out in the country: run-down single wide trailers and then someone with a mansion close by. The "hobos" around here are hard working motherfuckers. The "others" help pay for the roads.... seems to all work out.
Sounds like Mt. Juliet, Tennessee, Seer
Li Ka-Shing out.
Li Ka-Ching!
http://www.youtube.com/watch?v=voYdt2JcZ88
666 Li needs the cash so he can invest in that bridge in Brooklyn I'm gonna sell to him.
----
More likely, you'd pay him to sell him that bridge. He didn't become a billionaire your way.
Anyone who has dealt with the Li's know they take corruption including random internal fire drills at Hutchinson to an extreme level. I suspect he more likely recognizes that over 80% of chinese "industry" is based on using duress labour by communist unions plus grey market part fabrication from stolen Russian/American blueprints to generate mass inventory dumping zones. Since the world no longer needs 3 million Niike or Aiidiida shoes for 0.01/shoe the whole inventory repo ponzi is going to start to implode soon, starting with the upstream rubber/silicon/base metal producers.
If we use an overlay similar to when the repo-produce for quota model imploded in the USSR, China is going to get very ugly, very fast. China since 1400 has had a problem with taking blame for their actions, and is famous for throwing their most prominent thinkers under the bus to placate the peon in the fields. Li I suspect is doing what a long list of oligarchs tend to do when the winds are moving towards rent seeking & fear, step back. Li also has recently come under fire as not a true "chinese" due to his location in HK and that alone would make him a strong target for being strung up vs. one of the princelings closer to the Politburo, like the Mao or Zhang children.
Or maybe he just wants to go all in on Facebook or Google, because those guys clearly have 300% year on year growth according to their "fundamentals".
Nice analysis Mr. Rat! Your comments re industry seem to ring true re Chinese bearings, but that is a murky business even though we buy over $100,000 per year of them for Peru.
Yes, very good analysis: one that I pretty much saw coming from far away.
"famous for throwing their most prominent thinkers under the bus to placate the peon in the fields"
The "thinkers" and city-centric peoples exist by the good graces of those producing food. In the end we all shall return to the earth...
Exactly, he's no dummy and he knows Chinese history. The game is about to implode and alot of chinese people are going to lose their money. So when that happens nationalism happens and they go after the party leaders and all that are rich in the country (like the time before last and the time before last etc. etc.). And they do trials, take their money and execute them.
Isn't that what the people should do when their leaders betray them?
Well, this time it IS different. This is global. Going to be really hard to find sanctuary. What, he's going to run to where Simon is, Chile? Chile's economy emplodes and folks there will be set/conditioned to view the Chinese as the culprits. If you don't have enough to become a powerful warlord then you're not going to last too long as anyone high-profile/different looking.
Being smart about "real estate" isn't the same as being smart about surviving. Things are going to get much wierder than most can comprehend...
He´ll be bunked down in Singapore within a month. Watch.
doesn't say how much
HO NAH! HUNG GUI!.....The Jerky Boys
Ka-Ching can't make up that name for the richest man in china.
ROR!
dpp
Deleted
J Morrison: Fucking excellent my brother!
Well, I'm sure that means something; if only we knew what it was.
Li Jiacheng means --most excellent honest Li
Li Cha-Ching ??
"Hory chit! Time to sell! I buy property now in San Francisco and New York, with cash."
Or that
He's Ka-Shing out -.-
that's why the story has to be a hoax...
Oh the endless possibilities with that name!
I'm sure Sum Ting Wong and Ho Lee Fuk will be close behind.
Hey, I've been in PMs for some time. No Chinese real estate for me!
Off topic but if you can guess which Dow stocks they will jam higher tomorrow to offset IBM, you can WIN TOO!
GM, leading the rally, up 10% this week, new MO stock!!
If I were he I would also be physically outside of PRC jurisdiction in case scapegoats are required. They shoot bankers, don't they?
Let's give them a few extra Federal Reserve Head banksters they can shoot.
He'll be in the "don't run, you'll just die tired" class soon. - Ned
what do you mean "in case"? Business people are the number 1 scapegoat, time after time.
Free Jon Corzine!
He probably owns (some property in) Vancouver.
He actually owns Vancouver.
Don't tell me he's going to put it all into London property
Just find out where his #1 and #2 Bunker hidey-holes are, then get close-by.
If its high up in the Himilaya's then look for a "2012" scenario.
If its center of London then just make sure you can see his dugout.
This could be a very cheap way to profit when SHTF.
lets rush onto the west and start buying, oh wait...
"lets rush onto the west and start buying," . . .
the State of Nevada ?
Ruuuuh Roahhh...
Oh no! Commodities and stocks might decline oh the horror I am sure we all globally will be complaining about cheaper commodity prices... sarc off
Nothing will collapse.......it will just change hands.
Peter Pan Nothing will collapse.......it will just change hands.
----
Things collapse. But it still changes hands. Paupers remain paupers and the rich remain the rich. The game goes on. That's why I find it disturbing when people post messages hoping for the collapse because they think the rich will finally get clobbered. It is always the regular public that gets clobbered. We are the cannon fodder.
There is truth in what you say but the rich and the powerful do not always remain rich or alive or powerful after each upheavel.
Monarchs have been put to the sword, kingdoms lost and fortunes have changed hands.
Yes, there will always be rich and paupers but in the process of life all get clobbered in some way.
Thank you.
While "collapse" might shuffle the deck a bit, we're STILL ON THE DECK OF A SINKING SHIP. Resource depletion, it's not going to be kind to anyone...
Zhou Yongkang and Bo Xilai are friends of this Li Ka-Shing? And how about Jiang Zemin? It all boil down to big shots kleptocracy?
"The shadow banking system alone is now worth 84% of GDP according to an estimate by JP Morgan. The IMF pegs total private credit at 230% of GDP, jumping by 100% in the last few years."
China, the most bankrupt alleged corporation on the planet. By the way, how's that currency RV thingy working out?
http://i-uv.com
"Now, Li wants out of China. All of it."
Li rang the bell.
Dude is probably moving to Russia. That's were all the freedom and liberty minded wealthy want to move.
Mr Li Mr. Li, don't forget to buy some fucking Bitcoin on yuor way out..
"Dude is probably moving to Russia. That's were all the freedom and liberty minded wealthy want to move."
Perhaps not, if he's gay...
He's opening a Shitty Wok in Colorado where he plans on building a new Chinese Wall to defend against the Mongolians. He will be instrumental in the return of "the children" who will be slowly (over the course of two weeks) converted to Mongolian ways. The children will barely remember their true parents but slowly, one by one, they will remember "the before times" and be reunited with their families.
Thank you Li Ka-Shing, thank God for you.
bullish, Bullish, BULLISH!!!!
So how do cap gains work in China? Do they have tax-deferred exchanges?
So what's he buying with it? That's all I care about...
Probably the same fools who bought anything that Heizenga sold.
Blockbuster!
Exactly,what does he do with it,dollars ? Gold ?
London property apparently:
Li Ka-shing invests HK$12.9bn in UK property marketWeiji has sometimes been translated as wedgie too...
Seems appropriate...
" Then suddenly the humour of the situation came into my mind: the thought of the years I had spent in study and toil to get into the future age, and now my passion of anxiety to get out of it. I had made myself the most complicated and hopeless trap that man had ever devised. Although it was at my own expense, I could not help myself. I laughed out loud. "
H.G.W
HOW MUCH GOLD DOES HE OWN!?
Probably zero. He will buy land in the West and US stocks. Anywhere but Communist Kleptocracy they call China.
Who's the dumb fuck buting his properties ?
Is there a gay joke in that somewhere?
Mars. He is definitely partnering up with Richard Branson and Elon Musk to take all that wealth to Mars.
Not to piss on the doom party, but Li is older than Yoda, so this could be estate planning... it will be a lot harder for his family to keep control of assets outside Hong Kong. (But yes, China RE is a bubble ready to pop.)
I think it's already popped since he sold this property for 30% less than it was listed for last year.
Li Ka-shing family sells Beijing propertyThe deal is nearly 30 per cent lower than the asking price reported last year for the well-located Beijing property, made up of two office towers, two serviced apartment blocks and a shopping mall, China's Dongfang Daily newspaper said on Thursday.
Yeah, but how much did he buy it for?
@QM, admittedly i could not fathom what/how Li has done it...
but estate planning is not it. Since HK is one of the few places that does not tax inheritance, and he has apparenly done that over last decade(s) passing to his many sons (two obvious, one tech, one brick&mortar...).
He is astute in "flows" judging by beng the first big name property developer to bring mortgage into HK with CIBC, and only one invested in oil back a few decades ago (windows to look into).
My bet is he has connections (perhaps favors to cash) in UK...
And so this particular high profile "exit" may be a strategic play, as his other sells were kinda "quiet". Be interested to watch...
Lee Kaching!
Fixed it
How does the richest man in Asia know what's coming?
Li has been using his ‘Weiji’ board.
He' not Sum Dum Guy
its: Sum Dum Fuk
Still waiting on my knock off jersies.
Richest guy in Asia huh?
Sounds lie his name should be Li Ka-ching.
Well it should be a no-brainer that if you are in the housing bubble that is going to tank because monetary policy is reversing, or stopping, that you would sell the asset & come out with minimal losses, and a profit. He is just making a no-brain call.
China is a Krugmanian paradise. There is no economic crisis that a government takeover of the economy can't solve.
I wonder what FRANCIS SAWYER WOULD SAY?
Talking his book....hmmmm...not so sure, really. Can americans go to china and buy property like how they can come here and buy our farmland? Just asking.
What they didn't mention was that Ka-Shing prolly owed 1.8 Billion on that 928 Million sale .
Li Ka-Shing is is putting his money into his philanthropic foundation. A do-gooder. Unlike greedy scum like Bill Gates and Carlos Slim.
And a qoute from him:
http://media.licdn.com/mpr/mpr/p/1/000/2b6/11d/153d448.jpg
I suspect he's going to look to some other place to "contribute"...
BTW - The entire "philanthropic" shit is, well, shit. You hustle shit away from others and then give some back so you can hear how great you are.
A guy who made his money playing the Chinese property market is exiting the market that has been on a bull run for decades and when it is at an all time high and that is somehow a surprise? There is very little more to be made in the Chinese property market for speculator. That is a no-brainer. If this guy doesn't have a clue about other speculations, then he better stay liquid or seek out other places where there is an upside to speculating in property. Probably Vietnam or Myanmar.
At $1B ~ 25 tons of gold that's a whole lot of gold for $33B: over 800 tons.
That quantity can't be stored safely, even if you buy your own island. The US have taken down whole countries for far less.
Unless he stores it here and comes to live here. But he'd be living in a golden cage, since he'd be marked for life.
He bwuy wots of Vancouver weal estwate.
Wi Pis Un Yoo
'China is politically unstable. The shadow banking is proof positive that the party has two economies to attempt to manage, and can not do so....yet. Before this is over in Asia , China in particular, it could make Ukraine look like a birthday party. Next problem is currency.
I wish my last name was Ka-Ching
The SCMP reports today on some of the details of the contract which Albert Yeung’s Emperor Entertainment Group has with one Isabella Leong. If any doubt remained that this man is basically a pimp procuring young girls as his slaves then it is pretty much dispelled now.
Yeung’s modus operandi appears to be to find young, attractive teenage girls (Eurasians seem to be favoured) and sign them up on extraordinarily one-sided contracts which bind them as long as he desires, and under which they must provide all and any “entertainment services” that he commands.
Occasionally one of them tries to stand up to him. The last to do so publicly was Carina Lau. For her trouble she was kidnapped by Yeung’s hoodlums, gang raped, and videos of the rape are on sale in Mongkok (allegedly) and available on the internet (definitely).
Now Isabella Leong has had the balls to take him on as well; it is rumoured in the press that she is being supported in this by Richard Li (son of Li Ka-Shing) with whom she has been linked romantically. If true then this does wonders for Li in my estimation – he had always seemed a bit of a wet fish previously.
On the most recent occasion that the authorities managed to get Yeung to court all of the witnesses suffered complete amnesia and were unable to recall any of the events in question. And even to get it that far it required the ICAC (the policer of the police force, at least that’s how it was originally envisaged) since it appears that the Police proper are in Mr Yeung’s pocket too.
The points in Ms Leong’s claim, as reported by the SCMP {comments added by me} are:
It will be interesting to see how this pans out. If Ms Leong does succeed in getting the contract thrown out then it opens the doors for all of EEG’s starlets to do the same, fundamentally changing the whole structure of the Hong Kong entertainment industry. It’s not clear that even Mr Yeung’s legendary powers of control & intimidation through his triad gangs could stop that happening.
But then again, he is getting on a bit, so maybe he can’t get it up any more and he doesn’t have any further use for his harem?
http://smogsblog.wordpress.com/2008/04/20/pimping-albert-yeung-style/
And here's the video http://www.xnxx.com/video456201/carina_lau
Welcome to Hong Kong - the cesspool of triad pigs
For some strange reason these two informative pages no longer work
www.jsmineset.com
Jim Sinclairs page and
www.bullionbullscanada.com
another great info site.
Cheung was born in guangxi province, and moved to Hong Kong with his family at the age of four.
He acquired the nickname "Big Spender" for his love of lavish living. Cheung created a self-image for himself of a "likeable rogue with a heart of gold", and gave his friends and strangers gifts funded from a crime spree that brought in at least $2 billion.[2]
He was said to be a charming man with a taste for fine food and liquor. He reportedly gave away tens of thousands dollars to a young street painter when in Bangkok. Just before he was arrested, he spent a month in a luxury hotel in Shenzhen during which he showered hotel staff with tips. Even in jail, he reportedly asked wardens for bird's nest soup.[2]
Criminal life[edit] “ I haven't the patience to work for a living. In this world, money is the most important thing[2] ”Cheung partnered with Yip Kai-foon in a series of armed robberies. In 1990, he raided the Airport where he hauled a HK$30 million consignment of Rolex wristwatches.[3] Cheung was arrested in September 1991 and jailed for 18 years for robbing a security van at Kai Tak Airport, netting HK$167 million. However, he was acquitted and released after appeal in June 1995 when the judge ruled there was no case against Cheung as the evidence was filled with too many inconsistencies.[2] His associate Yip, however, was sentenced to 41 years in jail.[2]
Kidnappings[edit]In May 1996, he kidnapped Victor Li Tzar-kuoi, son of Li Ka Shing, and 29 Sept 1997 kidnapped Walter Kwok, chairman of Sun Hung Kai Properties.[1] He reportedly reaped HK$1.38 billion in ransom money from Li Ka-shing, and HK$600 million for Walter Kwok.[2] Cheung admitted he followed Li Ka-shing, then held him hostage in the Li's own house for three days until the ransom was paid.[2] It was believed at the time that these ransoms would merit an entry into the Guinness Book of World Records.[4] in http://en.wikipedia.org/wiki/Cheung_Chi_Keung
Wonder if Mr. Li has a new problem like the old one.
China's credit bubble is but a factor in Li's move. Although he denied he will ever leave Hong Kong he cannot explain why he is to sell the supermarket business in Hong Kong. Contrary to all the smart ass comments here , he is moving heavily into .... Europe.
Me think he , being the richest Asian , is not putting up with the worsen polititcal situation in Hong Kong, especially with the current leadership of Hong Kong. He got snubbed in several of his real estate dealings by this communist of a leader brutally and he is protesting with his feet.
In my opinion, the asshole Leung apparently is getting a green light from his owner in Beijing and is being extremely rough. He does not even pretend to be nice and I think he resorts to twisting the law to subdue dissenting voice.
I was to relocate to Hong Kong and let my son grow up there but no more. I cannot stand watching Hong Kong going down the drain. Everytime I watched TV news and seethose assholes telling Hong Kong people it was raining when they were pissing I want to smash the TV.
There is a LITTLE problem with this "piece of information":
http://www.shanghaidaily.com/business/real-estate/Richard-Lis-firm-sells-property-in-Beijing/shdaily.shtml
The seller of Pacific Place Beijing is RICHARD LI, one of the sons of LI KA SHING, not LI KA SHING.
By chance he isn't in the tea business, is he?
Very funny. How many articles on the incoming pulling the plug on the USD? By the likes of China or Russia?
That 'american' chinese knows. When it went to pulling the plug, he pulled the plug off China.
'Americans' love living in their fictional world. No matter how many reality checks come their way.
People are going to pull the plug on everything but the USD. Wont prevent 'americans' to keep propagating that the USD is done.
Janet, "and it's Bubbling if you're nasty" Yellen is a genius, of course. And yet even this excerpt from her speech seems a bit porous, in describing the effectiveness of QE Infinity:
“It is an elaboration of interatomic ether by vibration. The atomic ether vibrates all around the molecules of matter. There is a magnetic force attached to it at the same time, and it assimilates with the molecular atomic aggregations – that is, assimilates with a certain attractive force that it is hard to tell what it is. I call it a vibratory negative. It doesn’t act like a magnet drawing metals toward it. There is a certain magnetic effect about it that causes it to adhere by vibratory rotation to different forms of matter – that is the molecular, atomic, etheric, and ether-etheric. The impulse is given by metallic impulses, the rotary power that is formed by etheric vibration – that is the force that holds it in position.”
(john keely actually, inventor of 1800's Bullshit Machine, which I thought to be apropos given that Jan's "running" the biggest bullshit machine in the history of mankind.)
It appears it is time to run away from China. Corruption has been huge within China for years now more problems are brewing. China has entered a great credit trap and is awash in overcapacity and debt. Much of the recent growth in China after 2008 came from a massive 6.6 trillion dollar stimulus program that expanded credit and poured massive amounts of money into the system.
This money encouraged expansion and construction with little regard as to real demand or need. After several years of growing debt concern is rising the whole unstable pyramid is about to come crashing down bringing China and possibly the global economy with it. This is not just about writing off a few bad loans. The shadow banking sector is so large that concerns exist about contagion and a domino series of defaults that might rack the economy as savers lose money. More on this subject in the article below.
http://brucewilds.blogspot.com/2014/03/china-and-great-credit-trap.html
Li Ka Shing is not coverted in HK anymore. In the 80's and 90's he was but his reputation has been totally destroyed by his view that he really was "SUPERMAN. Thats his nickname in the old days. Nowadays, he's nothing more than a pawn with loads of money, but little to no power. China has many a billionaire that is less wealthy on paper, but has immense power overshadowing his pathetic lack of integrity as a power broker.
Your analysis is somewhat correct, but it does not portrait the whole picture. Outsiders like yourself will never have the inside angle. LKS cannot extend his empire in China simply due to his $$$. China and its internal elite know he's a western puppet and a bankster grown pawn.
Hong Kong people view him nothing more than a rich and capable speculator that has little to no values to his country or fellow country man.
Even the communists know the communists are fucked.
Interesting how Ka-Ching gets his cash out of China - that doesn't happen everyday.
I love Ka-shing's name. Nothing more appropriate.
Those birth-control glasses just don't quit, do they? Too bad they were too late to prevent the spawning of portfolio menace Richard Li, the 2000 PCCW (it's going to 27 (cents)) and NOW (No One Watching) network chunderkind. Way to crash that yacht, Richard. All those girls love you for your personality, not your money.