Thursday, December 29, 2011

What's Worse than a Casino?

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.

See Also:
Savvy Chinese Find Market Top!


Mr Slippery said...

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!

Jazzbumpa said...

Here's the stock market - this year and this century.

Purdy F'in dismal.

Happy New Year!

Jazzbumpa said...

I hit the post button too quick.

My WV was conem - Con 'em!

You can't make this stuff up.

WV: pleing, a portmanteau of plaintively falling.

dearieme said...

Life is a casino.

Stagflationary Mark said...

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).

Stagflationary Mark said...


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.

Stagflationary Mark said...


Life is like a box of casinos.