Last night while all of America toggled back and forth between the Sox/Yanks and Fresno State/Cal State Fullerton baseball games (what, my wife was right, I was the only one?) China took it in the gut with a 8.26% decline.
I have been out of China (I sold my across the board holding a couple of weeks ago but a couple of clients still own another stock) for a short time with the goal having been to reduce volatility in something that was white hot.
Since that sale China has had two big down days, although it should be noted the stock I sold is now higher than where I sold it. I forget who made the quote about give me the 60% in the middle but having that sort of mind set for some of these more volatile themes is going to be the right thing for most folks.
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5 comments:
Roger,
The A share market sold off. I doubt you invested in the A Share market... unless you got some QFII.
The H Share market faired fine and most of the Asian Index (including HK) were up...
Just wanted to point this out since most folks do not really understand that there is more than one "china" market where chinese companies' stocks do trade.
BTW, I don't mean this comment in any ways negative toward your comments...
Roger:
Chinese stock in the states may actually benefit from price fall in China. They may be the easy target for QDII investment since it is easy for those money managers to understand their domestic companies.
If more money are on the sideline in Shanghai, that could mean more money might be targeting at Chinese stock in US.
Just switch to India, best long term play out there
Ya, I don't think I understand the chinese market. I heard that it sold off hard and I look at the FXI yesterday morning and it's down 0.88%.
FXI does not invest in the A share market which is the one that everyone focuses on.
I would think that if the A share market, which has run ahead of the others, get the flu the other markets would at least sneeze a few times, but maybe not?
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