Looking in all the wrong places in China

CONTRARIAN INVESTOR

Over the last few weekends I have been trying to get to the bottom of the London Asia saga over in the Financial Times.

London Asia was the shooting star in the firmament of Chinese small-cap growth investing back in the middle of the last decade. Observers were encouraged to believe this outfit was the shape of the future, an investment house that would span two continents and channel equity funding to a small flotilla of Chinese companies that would then list on AIM or the Plus markets. It all went terribly wrong and, despite having top-notch non-executive directors such as Sir David Brewer on the board, London Asia was eventually suspended from the market amid much acrimony, finger-pointing and missing...