Daniel Su

Why I'm Long The China ETF

I speak English, Korean, and Chinese. End of December, I watched Chinese news program which featured a story about 70 year old lady who was hit by truck, so the police tried to call the ambulance, but she insisted that she did not need ambulance service, because she urgently needed to get to brokerage house to purchase stocks. People massively withdrew their life savings to purchase stocks especially low price, speculative stocks. People waiting in line four to five hours in the brokerage houses to open accounts, people quit their regular jobs, and huddle around price quote TV screens in the brokerage houses. Sounds familiar? US 2000 Tech bubble is repeating in China right now. No gurantee how long this rally will continue, but my expectation is that a lot of small companies will go under with people's life savings.

Famous quote by Jesse Livermore: "When the shoeshine boy gives me stock tips, I know the stock market has topped."