Love Thy 携程 C-Trip

My favorite Chinese company hands down has got to be C-Trip.  C-trip is basically China’s version of Orbitz or Travelocity. I fell in love with this company a few years ago after meeting their CFO in Shanghai.  Want a play on China’s growing middle class?  This is it.  Great growth, great margins, great business and they have a history of beating consensus for results (which they just did again). The only negative thing is the valuations.  Currently about 60+x last year and 45+x2010!.   Not cheap.  I bought this stock for my portfolio when I worked at the hedge fund a few years ago and made a killing  after they reported some good results.  Bought it for myself back this spring @30.  I’ll be selling some tomorrow since the stock has run up so much and they don’t offer much of dividend. I though about selling all of it and replacing the positions with some at the money calls but they seem expensive to me.

 

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s