The last big shakeout a couple months ago in A-shares was approx...

The last big shakeout a couple months ago in A-shares was approx 10% or so.
AGF at 120 it now seems there is approx 20% discount to asset value built-in allowing for the next one.
However A-shares are still the fastest climbing market in the world and on track (50% so far) to be best performer for '07.
At it's high AGF had a 20% premium to assets built-in just to be part of the ride.
To me AGF is a risky but possibly high reward stock, however it seems to be at the bottom of it's trading range based on where the A-Share market is allowing plenty safety net for a big drop.