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发帖数: 5727 | 3 On a hot, humid Sunday afternoon in mid-June, around 600 eager stock
investors packed the largest ballroom at the Grand Hyatt in Lujiazui,
Shanghai’s equivalent of Wall Street.
With Chinese stocks at a seven-year high, the investors had gathered to
listen to a talk by one of China’s top fund managers, Wang Weidong, of
Adding Investment. The crowd was so large, the air conditioning couldn’t
keep up and hotel staffers brought in chairs and bottled water for the
sweaty participants.
The Shanghai Composite Index had just hit a seven-plus-year high of 5178.19
that Friday—it closed at 5166.35 that day—and was up 162% from its low in
2014.
“The 4000 level was only the beginning of the bull market,” said Mr. Wang,
citing one of a string of editorials in government-controlled media that
predicted big returns. Mr. Wang ended his talk by telling the investors to
cancel their holidays to ride the market. “They say the world is too big
and I need to go and take a look,” he said. “I would say, the stock market
is hot, so how can I leave it behind?” |
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