For what it's worth, Fortune's David Kirkpatrick is the latest to echo the grand scale of China's free market revolution. As Jim Grisanzio points out, Kirkpatrick sees growth on steroids (my paraphrase) in the Middle Kingdom.
I'm already high on Baidu, Sina and Focus Media. CNOOC is possibly overbought, but has doubled since appearing on my radar months ago. China needs oil, pollution levels are out of hand. Makes me wonder what the pollution play will be in a year or two.
Jumping into China for the sake of jumping isn't wise, of course. But growth is growth is growth. And I feel equally bullish about Nintendo, which is one of only two Japanese stocks I like at all. If there are any others, I'd love to find out.
But back to China. Alibaba, 40% owned by Yahoo, goes public later this year. Already a sector leader. And what about Tencent, the dominant player in instant messaging? I'll have to do some digging, but a Tencent IPO might be, as the kiddies say, off the hook.
Disclaimer: Pupule Paul is long, just a teeny bit, in BIDU, FMCN and BIDU.
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