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December 29, 2011
A wealth terminator for small investors
Ten years ago, top economist Wu Jinglian criticized China's stock market as a place worse than a casino because of its excessive insider trading and market manipulation.
"At least there are rules in a casino," he said.
Not much has changed in terms of protecting small investors' rights. As wealthier people quit stocks to buy property instead, the stock market has become a casino only for the poor, who cannot afford to speculate in real estate, as Andy Xie says.
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7 comments:
A wealth terminator for small investors
Looking back on the last decade, almost every investment class has been a wealth terminator for small investors. The big exception was I-bonds, a clear winner for small investors. I think that will be true for the next 10 years.
It shocked me to see this article on Marketwatch today. I-bonds!
Here's the stock market - this year and this century.
Purdy F'in dismal.
http://amateurelliott.blogspot.com/2011/12/2011-wrap-up.html
Happy New Year!
JzB
I hit the post button too quick.
My WV was conem - Con 'em!
You can't make this stuff up.
JzB
WV: pleing, a portmanteau of plaintively falling.
Life is a casino.
Mr Slippery,
I don't mean to toot my own horn but the I-Bonds I bought in April 2000 officially double in price on New Year's Day. No joke (other than the horn of course, lol).
Jazzbumpa,
The stock market has indeed been a bit of a tragedy so far this century. Maybe the next century will be better though, lol. Sigh.
dearieme,
Life is like a box of casinos.
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