Monday, August 15, 2016
Stock Alert : Hibiscus (SPAC)
This is Hibiscus ... a SPAC. It is being goreng-ed at the moment as SPAC failed so so badly.
Note : For newbies, search for the word "SPAC" ... and avoid.
I am not sure if they have a SPAC for restaurants ... I read that some time ago. Crazy investment vehicle.
Why SPAC will not be in most super-investor list?
Because they do not have TRACK RECORDS ... it is playing on hot-air news of venturing. When O&G was hot back then, with crude oil trading above USD100 ... there are few SPAC listed in KLSE ... Hibiscus is one of them (Cliq, Sona ... apa lagi?).
One of the criteria for Uncle Ben's stock selection is the STRONG MANAGEMENT with GOOD(or excellent) track records. SPAC failed here badly as they are new ventures ... with promises ... but no track records to show.
11.35am : Having my teh tarik while waiting for wife to finish her grocery shopping. Classes in noon ... and e-meeting at night.
Time to sell ... sell.