– Meet China’s New ‘Investor’ Class: “It’s A Lot Easier To Make Money From Stocks Than Farmwork” (ZeroHedge, June 9, 2015):
After a very modest drop last week, outstanding margin trading balances in China have resurged to record highs this week as ‘correction’ dip buyers rampage back into the markets, hopeful of China’s inclusion in (and devastation of) the MSCI indices. With China’s market cap now nearing $10 trillion (40% of USA’s, up from just 14% last year), we thought a profile of just who is buying Chinese stocks – from plastic umbrella makers up 3000% this year to ponzi schemes like Hanergy. As one middle-aged rural Chinese chap exclaimed jubilantly, “it’s easier to make money from stocks than farmwork.”
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