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Author Topic: [Investment Fund] Bitcoin Greater China Fund  (Read 1107 times)
NodEx
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October 11, 2012, 04:37:06 PM
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This thread is to announce the opening to the bitcointalk public of the Bitcoin Greater China Fund. This fund aims to use Bitcoin as a vehicle for investment into a market that is difficult and expensive for outsiders to reach. It is something of a personal experiment in using Bitcoin to quickly, simply and cheaply accomplish financial objectives that are otherwise painfully expensive, complicated and restricted.

The other goal of this fund is to provide the Bitcoin community with a realistic investment in something tangible. As we have seen that mining bonds are shady, fraudulent and highly exploited. The GLBSE is gone and may have been a scam all along. Most of the investment funds are thinly veiled ponzi schemes. My fund is something different.

So in the simplest terms: I will take deposits in Bitcoin, convert them to Hong Kong dollars or Chinese yuan and use that to make investments in Greater China. Now BTC to HKD or CNY is not as simple or available a conversion as BTC to USD or others, so I will initially be using my own supplies of those currencies while holding investors' BTC as collateral representation of their investment. That is, until I can trade enough BTC for local currencies. https://btcchina.com/ is my current source, but I will continue to look for better rates.

Now, I won't promise massive weekly returns. In fact, I won't promise any weekly returns at all. My reports will be issued monthly. And while I have done well with this investment strategy over the last six months, outperforming (if slightly) the Hang Seng index (aside from a hiccup in June, when I was admittedly on vacation most of the month and not paying as much attention as I should have been), I cannot promise these returns will continue. Market conditions are ever changing. My target is to maintain 3% month-on-month growth. The other tricky part is that my gains were denominated in Hong Kong dollars. Obviously this is a Bitcoin fund, so the performance of the fund will be effected by any shifts in the value of the Bitcoin against the HKD or CNY. Investments in TWD are unlikely but possible. To be honest, I don't usually watch Taiwan markets closely. Anyway, monthly performance reports will include figures in HKD, CNY and BTC to give everyone an idea of how things are going.

Still, I make no promises. I will not insure any deposits or cover anything with “my own” money like some other funds have claimed. I have written a summary prospectus in the post below. If it interests you, by all means, invest in my exciting new Bitcoin project. If not, there are lots of other things you can do with your money. Hell, Bitcoin is supposed to be deflationary, so you might just sit on it. But do your best not to put it into mining or a ponzi, please. That's for all our sakes.

If you're still interested, you can request a deposit address. I also want a unique return address from you. I don't think I'll have people beating down the door to send huge amounts of Bitcoin, but I will anyway state that I don't want to start out too big. I won't take more than 1000 BTC from any one depositor, at least to start. Once this fund proves itself and this legal scare about GBLSE blows over, we can talk about larger amounts. At the same time, I need a minimum of 20 BTC from each depositor to work with, and then increments of 2.5 BTC up from there. If you want to cash out your fund after that, I need at least two weeks' notice to sell off your assets.

For people too lazy to read:
  • Bitcoin investments in Greater China
  • Initial investment at least 20BTC
  • From initial 20, increments of 2.5
  • Targeted 3% monthly growth
  • 2 weeks' notice for withdrawal
  • Not a ponzi. Not mining. Not Bitcoin-denominated investments
  • An exciting new development in Bitcoin!


Prospectus to follow in the next post.
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NodEx
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October 11, 2012, 04:37:58 PM
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Summary Prospectus


Investment objective
The fund's investment objective is to provide you with long-term growth of capital.

Fees and expenses of the fund
The fund will charge an annual management fee of 0.42% of the value of your investment as long as the annual growth rate of the fund as a whole is positive, to be assessed from the fund's start date (October 15). All distribution, service and other operating expenses are borne by the manager.

Principal investment strategies
The fund invests primarily in common stocks and bonds of issuers in the Greater China region that the manager believes have the potential for growth. Growth stocks are stocks that the manager believes have the potential for above-average capital appreciation.

The fund will invest at least 80% of its net assets in securities of issuers in Greater China. An issuing will be considered part of the Greater China region if it is issued in Mainland China, Hong Kong or Taiwan.

The fund relies on the processional judgment of its manager to make decisions about the fund's portfolio investments. The basic investment philosophy of the manager is to seek to invest in attractively valued companies that, in his opinion, represent good, long-term investment opportunities. The manager believes that an important way to accomplish this is through fundamental analysis, which may include contacting company executives and employees, suppliers, customers and competitors. Securities may be sold when the manager believes that they no longer represent relatively attractive investment opportunities.

Principal Risks
Market conditions – The prices of, and the income generated by, the common stocks and other securities held by the fund may decline due to market conditions and other factors, including those directly involving the issuers of securities held by the fund.

Investing in growth-oriented stocks – Growth-oriented stocks may involve larger price swings and greater potential for loss than other types of investments. These risks may be even greater in the case of smaller capitalization stocks.

International investment – Securities of issuers domiciled in various legal jurisdictions may lose value because of political, social, economic or market developments or instability in the countries or regions in which the issuer operates. These securities may also lose value due to changes in foreign currency exchange rates against Bitcoin and/or currencies of other countries. They may also be subject to different settlement and accounting practices and different regulatory, legal nad reporting standards, and may be more difficult to value than locally-traded securities.

Investing in emerging and developing countries — Investing in countries with emerging or developing economies and/or markets may involve risks in addition to and greater than those generally associated with investing in developed countries. For instance, emerging and developing countries may have less developed legal and accounting systems than those in developed countries. The governments of these countries may be less stable and more likely to impose capital controls, nationalize a company or industry, place restrictions on foreign ownership and on withdrawing sale proceeds of securities from the country, and/or impose punitive taxes that could adversely affect the prices of securities. In addition, the economies of these countries may be dependent on relatively few industries that are more susceptible to local and global changes. Securities markets in these countries can also be relatively small and have substantially lower trading volumes. As a result, securities issued in these countries may be more volatile and less liquid, and may be more difficult to value, than securities issued in countries with more developed economies and/or markets. Additionally, there may be increased settlement risks for transactions in local securities.

Management – The manager actively manages the fund's investments. Consequently, the fund is subject to the risk that the methods and analyses employed by the manager in this process may not produce the desired results. This could cause the fund to lose value or its investment results to lag relevant benchmarks.

Investment results
The following shows how the fund's investment results (denominated in Hong Kong Dollars) have varied in the last six months. This information provides some indication of the risks of investing in the fund. Past investment results are not predictive of future investment results.

September 4.76%
August 5.08%
July 3.84%
June -0.58%
May 4.13%
April 4.32%

Purchase and sale of fund shares
The minimum amount to establish an account is 20 BTC and the minimum to add to an account is 2.5 BTC. You may redeem shares through the fund manager on bitcointalk.org or via email.

Tax information
Dividends and capital gain distributions you receive from the fund are subject to taxes in your jurisdiction, unless you are tax-exempt or otherwise tax favored. Taxation is the responsibility of the investor.
niko
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October 11, 2012, 04:50:09 PM
 #3

Can you provide a contact number?

They're there, in their room.
Your mining rig is on fire, yet you're very calm.
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October 11, 2012, 05:10:32 PM
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Do you speak Chinese?
HKD is not cheap to deposit into the stock account if you're in Mainland.

WIT-2, a new equity investment opportunity offered by W Investment Technology Research Center.
https://bitcointalk.org/index.php?topic=132035.msg1414857#msg1414857
NodEx
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October 12, 2012, 02:41:22 AM
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Yes I speak Mandarin and Cantonese, and I can provide contact numbers for HK, Mainland and the US. Message me for them if you're serious and I'll send them over.

I have no concerns about the cost of deposits. I am HK-based and have traded across Greater China for years.
NodEx
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October 15, 2012, 06:50:13 AM
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Today marks the fund's start date. I'll be on IRC later to answer some questions from investors and prospective investors. But I wanted to share a happy success story that came to fruition today. A three month bet on Sinopec (0386) saw an investment come to fruition at a more than 15% gain. Happy days indeed, regardless of the Bitcoin price  Grin
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October 15, 2012, 08:26:31 AM
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Sounds interesting, good luck!
NodEx
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October 15, 2012, 04:16:37 PM
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Thanks. Every investment does take a bit of luck. There is no magic money making interest machine. Don't trust the ponzis, miners or ponzi miners!


And thanks to everyone who took the risk today. We're off to a great start. But there's always room for more!
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