PetroChina is world's top company

Apparently though if you look at the Hang Seng listed shares the market cap comes in much lower, less than Exxon. … fd2ac.html

There must be some restrictions in place which prevent arbitrage.

Also today, from Alphaville

Petrochina’s p/e is 60x according to the article. This is surely madness. Contrast this to a nice sensible western stock. Like Google with it’s p/e of 57 :open_mouth:

Once upon a time all the worlds biggest banks were Japanese …well bar maybe a few americans in 7th and 8th place.

About 1990 that was. A long time ago. Well even as late as 1995 in fact .

If Google breaks $700 I’m going to start shorting it.

Er, it closed at $725+ yesterday…

Just another point, the price of PetroChina really made the news because it IPO’ed yesterday. At which point it tripled to the prices quoted. It tripled on it’s IPO to become the biggest company in the world! Bananas.

Tripled in Shanghai. It’s still somewhat overvalued in Hong Kong but not to the same extent. Most foreign investors don’t realise that when they are buying China funds they are buying Chinese shares quoted in Hong Kong (or the US), not in Shanghai. Some day in the not so distant future I think that the Shanghai market will collapse and if people panic and start selling their “China” holdings it will create a great buying opportunity.

Sorry meant to say $800, look at the time of my post, I was half asleep!

Today’s FT had an article on Google’s ambition to dominate the mobile market. I’d say google are cheap at the moment. I use google maps on my PDA and it’s absoultely amazing – as is their search and email programs. Wider economic problems in the US may hinder google somewhat, but I think they’ve still got lots of growth and potential ahead of them.

A new paradigm, eh?

Anyone remember AOL? (Assholes On-Line as they were known by the rest of the internet world in the beginning).

A plumber from Galway has been plugging the Irish Government since the nineties to wake up and take a more positive approach to exploiting our Hydrocarbons.

Imagine, if the Government listened to him. We could now have PETROIRELAND. a fully fledged World Oil/Gas company with potential fields stretching half way across the Atlantic. The world would flock to buy Irish petrochemicals etc.

Instead, what do we have? PROPERTYIRELAND! With an associated judgment debt of over €100,000,000,000 from outside this isle, slapped on our young people who have been exploited to the hilt. This is not because we lost a war, or because we were taken over by people with axes etc. No this is because of our **crass stupidity **in not recognising the true character of strangers bearing gifts!

Even if we did strike oil, it’s of no value cos most of the exploration rights have already been sold off.

**CelloPoint **wrote

Only a small acreage has been licensed out.

We should offer to pay a certain % of the exploration and drilling costs.

Bring in the Oil Companies as equal partners, this would give us more clout e.g. Nigeria lost patience and demanded that Shell keep to their part of the bargain i.e. to discover new oil bearing fields. It was this action that led to Shell’s collapsing Share Price when it was discovered that it was falsifying the amount of reserves it had.

There are many ways of getting in on the action if there is a will. Tax write offs for investing in an Irish Oil/Gas Related Finance Company with the government releasing 25% of shares for this purpose.

Have not more time to spend on this. However the Oil Companies would very much appreciate if we put up some of the costs and take some of the risks. Minister Dempsey said in the Dail a few years ago, that he would not like to risk €25M of tax payers money to sink a well—Crikey! Oil companies would be open to approach

This whole area could take up much of the slack resulting from the Property Slump. But fresh thinking in Government circles would be called for! This would necessitate a complete different attitude to sea and coastal development which to our shame as a maritime nation, we never had. Two chances! It is difficult to understand how political hands or their brains are tied when it comes to dealing with maritime issues!

You’re too late. Down 6% as I write to $688. Or rather, you would have been right to short at $700!

Dotcom 2.0 here we come.

How anyone could think a p/e of 57 of any company that relies on advertising for it’s revenue is value for money, I don’t know.

Was going to post that very point the other day yognamahew - aren’t google just a technologically advanced advertiser?

Paddypower had a market on googles share price for 31st december until yesterday when they closed it.

I got in @ 7-1 for the price to be between 600-650 dollars. It was 12-1 for it to go below 600 dollars

It really doesn’t matter what they do, especially to wall street - the key questions are revenue/profit growth, which is almost doubling per year and barriers to entry for competitors, which are significant.

As far as I know. I think android (their mobile phone operating system) is one of their first major software developments that they are going to be paid for (beyond the search engine algorithms that I believe are also licensed).

AFAIK, most of their revenue is based on advertising and content (youtube).

BTW, with the irrationality around, I could not recommend this stock either way (as a buy or sell). Who knows where a particular stock is going these days. Fundamentals seem to be a think of the past! (But then, only the chinese and the germans make things these days!).