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!

7 comments:

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.

http://amateurelliott.blogspot.com/2011/12/2011-wrap-up.html

Happy New Year!
JzB

Jazzbumpa said...

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.

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...

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.

Stagflationary Mark said...

dearieme,

Life is like a box of casinos.