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1 Comment
Hot China Stocks: A Bubble to Avoid [view article]
Well, Chinese stocks may be up much, but there is no bubble so far. To reach a real bubble, PE needs to be over 100 or even 1,000 like Japanese stocks have done about 20 years ago, and everything must be rosy.I remembered that Japan stock market average P/E is 1,000 around early 1990s, and at the same time Japanese were still arguing there was no bubble as Japanese real estate was expensive enough to justify the high P/E ratio. I was in Japan during the time, all the Japanese I encountered told me so. That is the time for real bubble.
Because a stock went up 120% in a year did not justify a bubble. With so many negative comments coming out, a real bubble is far away.
During the real bubble time, US high tech stock has P/S over 100 and without any meaningful P/E. That is the real bubble time. Oct 17 06:04 PM