Nov 2, 2007

Doug Wakefield on Chinese brokerage explosion

In January of 2006, investors opened an average of 2,708 brokerage accounts per day. By August of 2007, the average had grown to 450,000 individuals accounts opened per day. Is the difference comprised of individuals who are thoroughly investigating companies’ economic fundamentals and the sustainability of their stock prices? Are they seeking to understand when these historic leaps will end, or are they looking for any story that supports the view that China’s markets will only go up?

~Doug Wakefield with Ben Hill, Best Minds Inc., Fear & Perception, November 2, 2007

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