list of Chinese company tickers

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1

Hi,

The country codes assigned to some foreign companies in the database appears to be wrong, with the result that if you try and exclude Chinese stocks using something like Country(“CHN”)=false, then some companies still manage to slip through the net.

One way around this is to set up a custom universe excluding specific tickers, which is ok if you have a such a list. Perhaps P123 members could help each other by assembling a list of mislabelled company tickers? Hopefully, there aren’t too many of them!

As a start, here’s my contribution from the Prussell 3000.

CO, CYD, CHNR

I expect there are some from other countries as well. If this has already been done, please can someone send a link to the list!

thanks!

2

Yes, we need a function that excludes Chinese companies from the stock selection process. The U.S. Listed Chinese company universe has many companies actively engaged in deceiving US investors.

My experience was LPH which turned out to be a total fraud, and caused me to lose my entire investment in the stock.

Longwei Petroleum: The Most Brazen China-Based U.S. Listed RTO To Date.
http://seekingalpha.com/article/1092561-longwei-petroleum-the-most-brazen-china-based-u-s-listed-rto-to-date

3

Hi,

I got stuck by LPH also, cost me a little over 10k. All my systems now use this rule:

EVAL(Country(“CHN”),Universe($ADR)=true & mktcap>=1000,1)

I think the main problem is smaller companies.

Bill

4

I believe they do takeovers to get onto a US exchange.
Steve

5

You can add FU to the list. I just got killed with it.

EVAL(Country(“CHN”),Universe($ADR)=true,mktcap>=0) did not keep me out of it.

6

The database country listings depend on how the companies register themselves. If a company is registered as U.S. but does business in China, it won’t be included as Country(“CHN”).

When I work with very small companies, I depend ultimately on manual review. For those who want to try to automate further, I set up this screen as a starting point:

https://www.portfolio123.com/app/screen/summary/79370

It starts with a List compiled as a result of having searched business descriptions for the word “China.” Then, it excludes those for which Country is CHN (the ones we can identify without manual review). It also excludes Country TWN (Taiwan; not among the China problems) and HKG (also not among the China problems but not as clear cut). That narrows the list to abut 200.

A good umber of these 200 are clearly not Chinese companies, but a lot are. At least 200 or so is a number that can be manually searched.

7

Thanks…

Could you post your list “BussDescrChina”?

8

Good thread. Thanks.

I have added some rules around this to 2 systems I trade.

To hijack it for a second and to beat a dead horse (sorry horse)…this is a good example of why someone might want the ability to modify a launched R2G.

If I did invest money in any R2G, I would want the developer doing the same thing.

Or…maybe major news breaks that there is a huge accounting fraud in Brazil. And I want to exclude Brazil small caps. Seems crazy to me that systems can’t be ‘updated’ at all. Or maybe fraud is discovered in an ETF used in an ETF rotation.

Or maybe I just find a variation to make a rule more robust.

No changes is what the community really wants?

Even though I download software updates almost weekly from major companies that had multi-year long development and beta testing cycles and huge teams trying to get it perfect?

I guess I will need to relaunch systems every 6 months or year, with whatever new rules I have learned / modified and ask sub’s to migrate? Even though that will delete all performance history. Or I can leave the systems up, even though I’ve learned that there are some issues I can make better.

I keep raising this, because it will affect how, when and if I launch new R2G’s. So, I am wrestling with it. I have significant personal money in versions of the systems I launch. I have friends and family planning to subscribe.

So…I try to make them better all the time. I learn things. I modify my own rules in my live money ports. I want to do the same thing for Sub’s in some controlled and approved way.

I don’t want the power to make daily changes without notifying sub’s. I do want the ability to make monthly, quarterly, semi-annual or annual updates and notify sub’s, and provide new backtests, and then not have to relaunch an entire system.

And I would prefer to know the rules up front before I launch my ‘fixed’ number of 8 models. Because I am not sure if I can take them down later.

But seems like I’m the only one with this issue. So, I will drop it after this post.

9

Tom, you are absolutely correct. Modification to the algorithms of R2G models should be allowed when there are valid reasons to do so. Squeezing one or two percentage additional return out of a model is not a valid reason. But eliminating Chinese companies from the stock universe is surely one.

10

I attached the download that lists companies based on today’s running of the screen.

But if you want a bigger list, including companies that are no longer active, you can easily create one via Stocks>>Search>>Business Summary and then use China as your keyword. As soon as the companies appears, hit “Save List”.

BussDescrChina.xls (130 KB)

11

craig :

FU, FAB Universal Corp. is not a China company. It is a company headquartered in the US with US management located in PA, according to Yahoo. They sell in China but a lot of companies do.

I am in FU and the run up was spectacular this week. Mondays open was 7.50/share, 11.48 (+53%) was Thursday’s high and 7.73 was today’s, Friday’s, close.

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No changes is what the community really wants?

Tom, I agree with you completely. I run 5 systems I developed myself plus 3 R2G’s I subscribe to. With my own systems I make changes all the time when I learn something new and I see I can make an improvement. Less draw down or more winners in particular without too much loss in CAGR. Changes to subscribed systems need to be vetted for sure, but better is better!

Bill

13

Glenn,

I’m in FU too. Only sold part of my holdings when a sell was triggered in one of my ports Friday. Run up was spectacular. Remains to be seen where it goes from here.

I believe what we do works in part due to volatility of the individual stocks and the lognormal distribution. I basically select stocks that have an equal chance of going up 100% or down 50% (magnitude of logs equal). The average return will be 25% in a simplistic model where each stock goes up 100% or down 50% in equal proportion. The lognormal distribution is the underlying assumption in almost all option trading formulas (e.g. Black–Scholes formula which won the Nobel Prize).

In my humble experience, the market does not follow a lognormal distribution as those Nobel laureates predict but a good sim can give you a list of stocks that come close.

The overall volatility is kept at a reasonable level by owning enough stocks that all of the coin flips cannot go against you at once.

Jim

14

ok, thanks Marc, that’s given me a much better list to start from. I got 1127 tickers with the word “China” in the business description. It needs some work though, some companies which just have subsidiaries were included, e.g.
AA - alcoa
BBY - best buy
BEN Franklin Resources
BID Sothebys
BINDQ^04 - bush industries
BTN -Ballantyne Strong Inc
CCORF Canaccord Financial Inc
DDAIF Daimler AG
DANOY Danone
DPMI^05 DuPont Photomasks Inc
DRIV Digital River Inc

I only got to D… But this should help me minimize the impact of China stocks on backtested results.

15

To find the duds, sort the list by dividend yield=0.
Then sort on Market Cap. Avoid those with small market caps.
Here is another B.S. company: LLEN
http://seekingalpha.com/article/1702172-geoinvesting-blows-the-whistle-on-l-l-energy?source=yahoo

16

double posted