China’s stock market is crashing, and one thing I learned in 2008 is great stocks can still free-fall further than you ever anticipated — even when the fundamentals suggest they shouldn’t.
I have to lower my risk from China, and will start selling off my Chinese holdings as they continue to deteriorate. Today I will sell Qihoo 360 (QIHU) from the Growth Portfolio. QIHU looked to have turned up recently, but has just fallen from $70 to $59 and I have to be prudent with other people’s money and get on the sidelines.
I originally purchased QIHU at $27.
