Thursday, January 8, 2009

An $810,000 birthday cake

By Dedric Lam
January 9, 2009 4:00 AM

Joining the list of A-list suckers is one of China's most expensive employee Tang Jun. The former President of Microsoft China and online entertainment giant Shanda revealed that he too was courted by fund managers that led to his $2.7 million to be flushed down the toilet.

In his account, Tang explains how over a four year period, after joining Shanda, he was courted by fund managers to the point where they would fly all the way from Hong Kong just to personally deliver him a birthday cake. He finally conceded and subsequently lost 30% of his investment. As a result of his loss, he has completely lost confidence in the international investment community and has decided that China is probably now the best investment.

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