I am not a shorter but me and smart money took our profits in August. I’m just warning you that this might end badly, just like what UBS is predicting. Iron ore and luxury goods are not the place you want to be if the Chinese property market freezes up. Also you cannot trust anything Evergrande says it has been habitually lying. You are used to rule of law, company ethics, not trading when insolvent, honouring contracts, patent rights this is China none of that exists. Unless proven Evergrande and a host of property companies are already insolvent and are teeter tottering on collapse. President Xi Jinping may bail them out but are you willing to put your hard earned money on a gamble?
Iron ore price, page-38321
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$18.49 |
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