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No. of Recommendations: 7
My thoughts on the subject:
Each of us discovers over time and tribulations what his own threshold is for risk. For me, most of the risk of investing in China arises because the entire society, culture and institutional framework is adapting Socialism/Communism to and toward Capitalism. It is mammouth, like our own industrial revolution, but vastly larger, and is occuring against a background of profoundly different historical reference points.

We are witnessing the birth of a new era in China. These are Capitalist-Socialist-Communist-Citizens who are not wholly convinced that property rights will be upheld for the next 100 years...theyhave seen too much in their lifetimes. So they hedge their bets.

I have the greatest respect for Bill Mann's intellect, diligence and curiosity. I think he has sized up the company and the individuals and he expects CFSG to be a great company at a reasonable risk.

I'm not sure who said "Character is all"... I look to Bill's character... and I believe he will do his level best to understand theirs.

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