I must admit, the FatCat did not see that Hurray! Holding Co., Ltd. (NASDAQ: HRAY) , a leader in artist development, music production, wireless music distribution, and other wireless value-added services in China, today announced that it has been awarded a contract by China Telecom to design, develop, sell and support an application software for China Telecom's future nation-wide 3G portal.
However, FatCat brought HRAY when it was close to 52wk low. Then it went lower. Why FatCat brought the stock when everybody is selling? Because FatCat knows buying a stock is not buying a piece of gaming paper that prices goes up and down at random. It is the intrinsic value of the company. As a company, Hurray! is a leader in artist development, music production and offline distribution in China and a leading online distributor of music and music-related products such as ring tones, ring-back-tones, and true-tones to mobile users in China through the full range of wireless value-added services platforms over mobile networks and through the Internet. China, the world's largest mobile market and its' still growing. Hary is its largest player in content delivery.
An other reason FatCat brought HARY is that the US currency is constantly depreciating against other currencies. However, unlike the dip against Euro or Canadian Dollars, the dip against Yuan is unlikely to bounce back. So invest in a good Chinese stock will make you a FatCat.
