Alibaba

Nov-06, bought Alibaba (1688.HK) 3000 shares with 36.8 HKD, about 36.919 HKD including trading cost. The open price was about 30 HKD at morning, but hesitate to buy so waited till afternoon, price kept increasing and finally dealt at 36.8 HKD.
But Nov-07, second day after IPO, price dropped, suppose P/E too high and some traders wanted to harvest. Today, Nov-09, impacted by US economy slow down, closed at 29 HKD. Loss more than 2000 SGD till now.

A bad buying price, with unreasonable > 300 P/E ratio. Mistake!
But for years term, maybe 5 years, I believe Alibaba will grow faster, as an intermediary for booming chinese economy and the whole world. So now I expecting same story as Google or Baidu happen again. But if price keep droping, I will find another timing to buy more or sell current stakes that have high cost, to lower the overall cost. Maybe below 25 HKD ...