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!
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7 comments:

  1. Mr SlipperyDecember 29, 2011 at 7:31 PM

    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!

    ReplyDelete
  2. JazzbumpaDecember 30, 2011 at 11:31 AM

    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

    ReplyDelete
  3. JazzbumpaDecember 30, 2011 at 11:34 AM

    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.

    ReplyDelete
  4. deariemeDecember 30, 2011 at 4:10 PM

    Life is a casino.

    ReplyDelete
  5. Stagflationary MarkDecember 30, 2011 at 5:11 PM

    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).

    ReplyDelete
  6. Stagflationary MarkDecember 30, 2011 at 5:13 PM

    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.

    ReplyDelete
  7. Stagflationary MarkDecember 30, 2011 at 5:14 PM

    dearieme,

    Life is like a box of casinos.

    ReplyDelete