market folly

Robert Karr's hedge fund firm Joho Capital has filed a 13G with the SEC and disclosed a new position in 58.com (WUBA).  Per the filing, Joho owns 7.7% of the company with 920,000 shares.

The 13G was just filed but indicates the disclosure was made due to activity way back on October 31st.

Joho isn't the only major hedge fund to own WUBA shares, as we previously detailed that John Burbank's Passport Capital owns 58.com as well.  Chinese internet companies in general have been a big theme for Burbank and he notes that China is determined not to lose to the US there.

Per Google Finance, "Beijing 58 Information and Technology Co., Ltd. owns and operates an on-line classified advertisement services Web Site under the name 58.com. The Web Site helps individuals and SMEs to broadcast and search information relating to job opportunities, housing, dating, community events, services, and trading of second hand products. Beijing 58 Information and Technology Co., Ltd. was founded in 2005 and is based in Beijing, China."

You can view other recent portfolio activity from Joho Capital here.