Brocker.Org: Op-Ed: A bear in Shanghai need to be commended, not condemned


Kim Kyung-Hoon | Reuters

A person appears to be at an digital board at a brokerage household in Beijing, China, January four, 2016.

The investigation [of Xiao Jinhua] is mentioned to be centered on manipulation that contributed to stress advertising throughout the 2015 market place rout. – SCMP, February 2

The law punishes whoever originates or circulates rumours calculated to impact adversely the credit rating or small business of persons or firms…

But how is the public secured towards the risk of getting stocks previously mentioned their actual value? Who punishes the distributor of unjustified bullish information objects? No person and however, the public loses far more revenue getting stocks on anonymous within advice when they are as well superior than it does advertising out stocks down below their value as a consequence of bearish advice throughout so identified as “raids”.

So reads “Reminiscences of a Stock Operator“, by Edwin Lefevre, Guides of Wall Road, 1980, on site 297.

Additional from the South China Early morning Article:
Tycoon’s return a political electrical power perform: analysts
Growing quantity of overseas corporations shutting shop in China
Chinese corporations on the lookout for far more semiconductor offers

Lefevre was truly Jesse Livermore, the “Terrific Bear of Wall Road” in the early twentieth century and his Reminiscences is a inventory market place typical, a vastly readable account of the vocation of a professional speculator.

Just to set that vocation into perspective, even so, Livermore died penniless, a suicide who shot himself in a New York resort washroom soon after obtaining scrawled the words, “My lifestyle has been a failure” on the washroom mirror.

I inform you this to make the point that no speculator, even so intelligent, is constantly cleverer than the market place. To gain constantly you possibly have to fool federal government into providing you a exclusive gain or have the great fortune to be in the proper position at the proper time for a 50-fold soar across the board in share costs, these kinds of as the Cling Seng Index staged from the mid-1970’s to mid-nineties.