I am back.

I finally found my password and username. I am delayed to write my blogger because I was prepared for my CFA exam. Thank god, I passed my level II. Hope I will pass level III next year.

Anyway, I am back to write my investment idea.

So far so good. I have placed my chips on the table of oil and energy in the first three quarters of year (2005), which handsomely rewarded me. However, recent sharp drop in two weeks has cut my profit in half, especially my client's account.

I have already cut my oil holding. I only hold petroChina, which I think will be isolated from the rest of the world. I also own gas stock - Encana, which was beaten up by 20%.

I still stongly believe Encana is a winner, since it has quit its oil operation and focuses on the natural gas exploration and operation. The natural gas price actually remains high. I think I am going to buy more Encana stocks, if it drops more. Especially for my client's account.

I am bearish on the outlook of US equities, even Corporate America has plenty of cash on its balance sheet. I am not going to hold any US$ paper.

Have bought ICICI bank (Indian) recently. It is still a good buy.