No More Chinese Companies
CHINA ELECTRIC MOTOR INC (CELM): bought at $7.37, now $0.07 (no, it is not a typo);
LONGTOP FINL TECHS ADR (my statement doesn't show any symbol, the company must have been de-listed): bought at $38.13, now $0.03 (again not a typo);
CHINA AGRITECH (CAGC): bought at $5.97, now $0.29.
Now you know the answer. And all of them with the exception of the last one were recommended in a paid subscription for a financial newsletter (perhaps with the exception of CAGC) so they were not bought on a whim - I have my fair share of them but not these ones - the above companies were analyzed by knowledgeable, smart people.
So my warning to everyone, do not invest in Chinese companies.
I know there are companies who have fared well, but think of what could happen.
The U.S. government will default on their huge debt and China will have to confiscate the American investments to recover some of their money. Or the U.S. will start an after WWI Germany style inflation in order to pay off the debt and China would need to respond somehow again by confiscating American investments. Hope they will not start the WWIII or even threaten with one over this issue.