Jan

5

On China, from Gary Rogan

January 5, 2016 |

The Chinese stock market is a reasonable barometer of the worldwide demand for manufactured goods and commodities used in their manufacture, as well as the state of the world's second largest economy. As such it has some predictive properties. To claim it's not important because few people participate in it just sounds idiotic.

I keep saying that good stocks in aggregate are too expensive in the US and that "onwards and upwards" isn't the most likely direction, but there isn't much resonance for this type of thinking that I can find. Also today a whole bunch of hotel stocks made new 52 week lows (a relatively new phenomenon) and so did Sotheby's, again. I'm not too optimistic.


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