Club Mulgoa

Friday, November 09, 2012

JIN

Kerry Packer used to be the richest man in Australia.  But the rise of mining industry and the fall in the value of a media company (eroded by the Internet) transformed his son into a relative pauper.

Yet James is a smarter investor than his father.  Kerry loses money indulging in gambling in casinos.  James buys into casinos.

Well, I don't do gambling to lose money.  But plenty of people do.  So when I read how many customers JIN has been signing up in increasing numbers, I bought its shares recently in May 2012 and it is up 38%.  This will not perform like a mining stock.  I expect it will be a slow rise, a fast rise, a slow rise, a slow rise... until it is taken over by a much bigger boy.

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