Stock Picking: The Good Luck "8s"
Aggregated Source: China Challenges
May 31, 2007|
The Wall Street Journal reports:
When a friend whispered several stock tips to Yan Caigen last year, the investor snapped up 30,000 shares in one of them, a cement company. The reason: the stock's auspicious ticker code, 600881, which contains a double-eight.
"I believe good codes will bring good luck," says Mr. Yan, who parks himself most days in front of a trading screen at a Shanghai brokerage, Shenyin & Wanguo Securities Co. Indeed, shares in Jilin Yatai (Group) Co., the cement company he bought, promptly tripled, earning him about $50,000. Mr. Yan gives credit for the performance to the two "8s" in the stock's numeric ticker symbol, which he considers a lucky combination.
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