ObjectiveFunction

I'm Slowly Rebuilding My Chinese Position

On Sep 01 12:20 PM doubleshortetf wrote:

> Now is good time to buy FXP when all the investment gurus in unison are recommending Chinese stocks and even "taxi drivers" and clueless herd investors believe China with 1/3 US GDP will save the world.

Yup. Remember the old line about how "when your unemployed second cousin or the guy behind the deli counter starts giving you stock or real estate tips, it's time to get out of the market"? Well....

www.bloomberg.com/apps...

Pig farmers in Guangzhou province were buying copper or nickel, Liu wrote, citing CCTV. Residents in Wenzhou city of Zhejiang province, “famously investment savvy,” are reportedly using bank loans to stockpile copper scrap, with one merchant saying he has stored 20,000 tons... Housewives in Wenzhou may have stockpiled metals as “they just have too much cash on hand

I'd formulate some kind of clever quip about silk purses, but I'm too tired.