if my neighbor and his brother both mortgaged their homes to invest in a no risk stock market in China, and they each know a friend who did the same thing,,How could this possibly not go wrong?
I'm so excited for tonight I bought a bong! Bloomberg Asia is going to be more exciting than a basketball game. In all seriousness those curbs are exactly what f*%ed up our market. In talking with my hedge fund connections it seems of course young turks using leverage in the hedge fund community were all oiled up in Chinese stocks because they are going up so much faster than US stocks. Those curbs KEPT them from selling so when margin requests rolled in for cash they sold what they could get there hands on-- good old US bluechips and tech stocks Now I would only due this here under cover of being really beat up today but I bet you China gov steps in and buys stocks. Over there stks may go back up... over here the bloom is off the rose a bit. I'm much more concerned about the Yen's move (strength) against the dollar and the unwinding of all those carry trades by... those same young turks using leverage. Hedge funds will go under no doubt. And the brokerage houses are no better they are ruled by old timers but as long as the bottom line is fattening they let these quant idiots get away with murder. Way to many derivatives. If any gov should step on it's investors it might be OURS! All I know is some China stocks got hurt worse than others and I for one am looking at very closely is tiny China Pharma. Ye of 90% rev growth and 230% Income growth. Down a bit today nothing serious. Looks yummy at $1.85.<CPHI> ~stoney
It's bounced back to some point already +3.94% +109.28 ÃÃäøÃý »¦Ãî300 +3.54% +87.08 I don't know which chinese index these are I'm just reading off http://cn.finance.yahoo.com/