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April 20, 2005

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Scenes from a stock market bubble

A company majority owned by its chairman is buying the chairman's personally held Macau casino assets for 253 times the casino's half year earnings. The stock market naturally loved the news, taking the shares from HK$0.70 in September last year to HK$8.50 before the shares were suspended and then rallying even more to HK$9.10 today.

David Webb, where are you?

posted by Simon on 04.20.05 at 02:19 PM in the




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