$Alibaba(09988)$ In the long run, market is a weighing machine. Whereas in the short run, it is a voting machine. The real problem I have is the definition of long run. LOL.
BABA results are reasonable, reflecting the state of the economy in general. I still believe in BABA and in my view, its intrinsic value, is at least 120 in the most pessimistic case.
The real highlight is the board approved to top up the share buy back by a whopping 25b. They have now 35b (10 unused from previous approval) to deploy in the next 3 years. That is approximately 18 - 20% of existing shares.
May the force be with those of us in the same boat. And hopefully the year of Dragon brings you great health and wealth.
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