Categories
Fun

Week in Review 06-03 to 06-09

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Bill Gates got Harvard degree finally, 30 years after drop out from Harvard;

Gates Harvard degree

Dell announced to sell laptop at Sam’s Club (Major’s comment: too little, too late);

Andy Xie, former chief economist of Morgan Stanley Asia, says the odds of making money in Chinese stock market is lower than casinos (40% vs. 48%); 

Categories
China Stocks

Finally Some Rational Comments on Chinese Stocks Markets

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That’s from Andy Xie, former chief economist for Morgan Stanley (Asia), here is the link. The article is in Chinese. Basically he is saying the high PE ratio of Chinese domestic stocks can not be justified by the growth of economy. The profitability of company and the prosperity of economy are two separate things. Among the factors pushing up the stocks prices, he mentioned the growth of mutual fund industry and the slow housing market.