This is a density play. The population density in China is so great that digital communications is deeply needed (i.e. to get things delivered and communicate with people). Alibaba has executed very well. Hold or sell if you're underwater now. Valuations are stretched. You can see a better entry point letter. If there's a global recession he would definitely buy this.
Trump has made this trade off for no good reason. 40% of earnings come out of Europe where the economy is doing fine. Great balance sheet. They'll likely raise the dividend. Another 40% of earnings come out of Hong Kong which is pegged to US interest rates, which in turn will rise. A great global franchise. Smart management. Attractive at these levels. (6% dividend, Analysts' price target: HK$79.63)
(Past Top Pick, Sept. 11, 2017, Up 37%) Strong balance sheet. He bought it when oil markets sagged and he's since done well with it. Currently, though, the stock is a little rich. Add when there's a slight pullback. Has more cash than debt.