did i read wrongly ? Monks playing shares ? where did they get the money ?Sometime back, a foreign Chinese channel reported that a family even rolled a relative in a wheelchair into the stock brokerage to open a trading account. Apparently the relative had suffered a stroke and wanted to make money instead of sitting at home useless.
Only a week back, at a seminar I attended on Asia Economics, the speaker says even monks are opening trading accounts; going to the stock brokerages in their orange robes.
I do not worry too much becos there are still a lot of skeptics lurking around, and even more people crying "beware". It does look like everybody who follows the stock markets are aware of the "bubble". From the money flow (Oil money, private equity from Europe, hot money from US, leveraged money and carry trades from Hedge funds), it does seem to indicate that retail money is not totally in (the markets). So, there are still a lot of "foolish (aka. Retail)" money sitting on the side "waiting" for the so-called "expected" collaspe.
If I were to use CS respondents here as an indicator, it does seem that this bubble still can be stretched a bit. When majority of the CS respondents turn positive, and the negatives stopped whinning, then the so-called BIG correction may come. Meanwhile minor corrections will come every now and then.
Even Greenspan was wrong for a few years when he made the infamous "Irrational Exuberance" comment. And this week, he said something about "China stocks may post dramatic drops" in addition to the many comments he made throughout the year, echoing the same sentiments made by Chinese President Hu, Lee Seau Kay & Li Ka Shing..