Much of the stellar growth in Chinese corporate earnings has been generated by the rise in stock values because many companies have invested heavily in the market rather than core businesses.Yay! Is there any asset class that isn't approaching the peak of a bubble right now? I just recently saw a quote in the comments on Felix Salmon's blog:
Gold is for optimists. I'm diversifying into canned goods.Seems like a good idea right now.
Update (2007-11-26 noonish): Fixed the source attribution on the Gold quote.
3 comments:
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