Olympics official starts, market, tax refund
By stlplace on Aug 8, 2008 in Beijing Olympics, Shanghai Composite
Beijing Olympics offically started just couple hours ago. Thanks to NBC pursuit of rating and advertising dollars, US auduiences won’t see live broadcast of the opening ceremony. A video playback will be shown tonight at 6:30 PM at local NBC channel (KSDK channel 5 in the case of St. Louis). It will last 4.5 hrs.
Sadly as I expected (did I sound like Dai Tou Da Ge), Shangai Composite Index dropped nearly 5% in this historical opening day. It seems neither fund managers nor retail investors (Shan Hu) are listening to president Hu’s advice, which is to have a strong and balanced stock market. Maybe those people will regret it sometime later?
On a positive note, I received my federal tax refund today. Just in time for more stock bargain hunting when CitiGroup and Merril are bailing out? My wife will not like this idea 
