Finding Bargains?

With shares down 60-80% there have to be some good buys available. One stock I'm eyeing is Spreadtrum (SPRD), a Chinese semiconductor company. As of today, the company sells for $0.96, but had more than $1.50 per share in cash at the end of September.

My Marketocracy China fund continues to move up the rankings, thanks to a timely exit in November 2007 when I moved to 40% cash. Currently the fund has less than 40% of assets in equities, as can be seen by the milder losses in the one-year chart. I wish ProShares Ultra Short FTSE/Xinhua China 25 (FXP) was a better vehicle to short with, but overall the returns are solid, especially compared to a straight China equity fund.