Jaime:
There's a lot of positive things that can be said as well, IMO.
While I've never done it, (and I wouldn't do it for all the gold
in Ft. Knox), consider the pain of giving birth to a new economic power vs. the joy that birth will eventually provide. (Women say it is worth it. I'll let them know in about 5 years when HK/China should
be providing the joy they refer to. <g>)
I was talking to a money manager the other day. He was saying how
techs had done well early in 1997, then blue chips. He said: "If you were in techs late in 1997, you got killed." I laughed. I told him:
"You have NO idea what "getting killed" is unless you were like me and you owned technology stocks that were in Hong Kong." He cringed in pain, shook his head in agreement & ceased to tell me his problems. <g>
I read the news on companies in HK religiously. I have seen very very little fundamental change. IMO, the market is often influenced by:
1) Analysts who have not taken the time to thoroughly understand
what they are analyzing. (This does not surprise me, as their salary is paid from the commissions their Buy! Sell! reports generate.)
2) The implementation of futures on indicies in HK made a highly volatile market even more volatile. Watch HSBC. It is "the market engine" that drives the indicies due to its' heavy weighting in the
index. When HSBC drops on NO news, you can bet a dollar to a dime it is speculative manipulation of futures & cash markets, pure & simple.
Again, I remind all I am wrong a lot. This is not advice, just opinion. IMO, in 6-9 months we'll all be smacking ourselves for not
buying more when things were so cheap.
Regards,
Doug |
