Chimin Sang

Reduce Your Chinese Holdings Before the National Party Congress Begins

I always think since Enzio von Pfeil is in fact a doctor. He should give himself a proper name as Dr. Enzio Von pfeIL, shortened as Dr. EVIL.

Morgan Stanley China A Share Fund: A Contrarian Buy Speculation

As the previous article stated it pretty well, CAF does not reflect the NAV due to its limitation, thus it is difficult to use it as a hedge vehicle.

Two kinds of people can play CAF:

- Experts who really know how such close end ETF would behave under two forces: underlying assets and mass speculation. Underlying assets itself is subject to lots of other factors.
- Idiots who just bet on luck.

For the rest of us, it is not something we should get close.

Morgan Stanley China Closed End Fund: NAV Up While Market Price Lags

ETS is as efficient as the people who run them. My guess is that CAF administrators do not want to close the GAP because there is no mechanism for them to go short. If they choose to close the gap, the only choice is to liquidate all their positions and go out of business.

Chinese Castle in the Air: The A-Shares Craze

When you play poker, you want to look around and find out who the patsy is. If you cannot find one, you are the patsy.

China's Stock Mania: The End is Near

So they want the bubble burst way before 2008 Olympics.

The Irrationally Exuberant Chinese Stock Market Bubble

I like how Matthew put it. When there are so many ducks, feed them abundantly and exuberantly.