Paul Conway Establishing a $60M 'China Revaluation US Fund'

While Hugh Hendry and Jim Chanos are firm on their stance against China and continue to hold short positions in the country, Paul Conway, an ex-Oppenheimer & Co. banker, has chosen to go long on Chinese companies. He is attempting to raise a $60 million China Revaluation US Fund, Nishant Kumar and Michael Flaherty report for Reuters. Conway’s theory is that tough scrutiny of foreign listed Chinese companies has weeded out the shady operations and what is left now are worthy and growing businesses. Conway Believes Fraud Has Been Weeded Out, Leaving Room for Healthy Growth From 2010 to 2012, about…