foggy- that's your opinion, and I respect it.
My opinion is that there is near zero trust in the China space and 100% of it is currently priced as fraud, yet I'd guesstimate 5% or so aren't frauds and will ultimately yield big gains for those starting positions at these levels.
So I am buying a few of these names that I believe to be non-frauds, at low prices and holding/averging in.
Could it get worse from here? Absolutely- which is why rule No. 1 is don't put anything into these stocks you can't afford to lose.
Too many people got greedy- very greedy in this sector a few years back. They did no due diligence- just bought anything China and espected to retire in a year. Even when the CCME writing was on the wall people were buying with both hands.
IMO, the real lesson from this sector is: "Don't ever invest more than you can afford to lose".
That said, the statement "you may depend on the novice investors to make your money..." does not apply to me and never has.
I've had a passion for this space for years- but it's a hobby for me, not my living.
Good luck,
CSP
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