Well, that is not at the website you mentioned, and it certainly doesn't say that more than half of chinese investors don't have a "high school degree".
Oh you can trawl through the university web's site to your little heart's delight. It says exactly what Bloomberg said about the majority of new investors not having a high school education. You can even calculate the proportion of investors to total investors if you wish, but that was not Bloomberg's point. Their point was that it appears that the stock market is attracting a large proportion of people with limited education, particularly in recent times. These are typically people who can less afford to lose. Secondly, equity prices are influenced by this and is a wonderful example of a bubble.
Oh you can trawl through the university web's site to your little heart's delight. It says exactly what Bloomberg said about the majority of new investors not having a high school education. You can even calculate the proportion of investors to total investors if you wish, but that was not Bloomberg's point. Their point was that it appears that the stock market is attracting a large proportion of people with limited education, particularly in recent times. These are typically people who can less afford to lose. Secondly, equity prices are influenced by this and is a wonderful example of a bubble.
But bulls like to get side tracked. You sure the Bloomberg article didn't contain a spelling error or two.
If so, then the whole thing is so obviously suspect, one can only think that every Chinese investor must have a PHD in economics.
WHAT WOULD EDDIE DO? MAAAATE! Share a cot with Milton?
I warned of this awhile back. Forget Greece, forget the US. The Chinese stock market is the greatest threat to the world economy. If this bust accelerates, it will cripple the Chinese economy. The stock market bust will accelerate the housing market declines happening right now. It will further reduce GDP growth and destroy the savings of millions of small time Chinese investors. This could very well lead to Chinas first modern recession or worse.
But you also said that a booming China was going to be the great driver of demand for Australian resources?
I predict that the Eagles will win the next western derby. But I also think that the Dockers could edge it.
Whatever happens, my predictive skills will be proved right.
Classic Mike:
09/08/2014 "3-5% growth by the time autumn rolls around."
12/08/2014 "Looks like a strong 2nd half of the year coming up. "
14/08/2014 "No I think prices will stagnate or decline for 2 years. Then we will see a rebound and further growth."
Three hours later on 14/08/2014 "Expect to see a solid spring/summer in both sales and price growth for the 2nd half of 2014 and first half of 2015."
16/08/2014 "I expect to see strong competition for quality properties in the middle price bracket over the next 6 months which will drive the market. "
16/08/2014 "It is all those thousands of transactions you talk about that I tap into, prior to any data providers looking at the data. Hence why I am ahead of the curve. It's why I often see market movements months ahead of most other people."
16/08/2014 "I have already stated my view point. I expect to see between 3-5% growth over Spring/Summer which takes us to March 2015."
25/08/2014 "I have always had an ability to consume huge amounts of data and project the most likely outcomes years in advance on areas I focus on."
01/10/2014 "So Reiwa say what I have been saying for over 2 years that I expect 2015/16 to be flat after this next Spring/Summer of growth. Even Reiwa said they expect growth in prices over the Spring/Summer of this year followed by a flat market. They have finally moved in the direction I have been at for 2 years. Just shows how accurate I am on the movements of the market. "
01/10/2014 "My 5% prediction is in line with my long held predictions which have happened to date from 2 years ago. I have not changed my tune. How would I know 2 years ago about price growth now, think about it. How could I be so accurate time and time again. 5% wont make anyone rich, you are a complete fool. But 5% will cost you tens of thousands of dollars trying to buy back into the market and thousands more on renting longer"
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be rising.
Oh you can trawl through the university web's site to your little heart's delight. It says exactly what Bloomberg said about the majority of new investors not having a high school education. You can even calculate the proportion of investors to total investors if you wish, but that was not Bloomberg's point. Their point was that it appears that the stock market is attracting a large proportion of people with limited education, particularly in recent times. These are typically people who can less afford to lose. Secondly, equity prices are influenced by this and is a wonderful example of a bubble.
Actually, you can't trawl through the University's website to your heart's content. Almost nothing is available on the English site, and if you go to the Chinese site, you find that the 2014 data is not actually available online. It might be available by email if you sign a data sharing agreement and you are from an academic institution, but online that dataset is not available.
But Actually I am not particularly taking issue with the Bloomberg article which is saying that the household financial survey says that more than half the *new* *equity* investors in 13/14 did not have high-school finishes. What I am taking issue with is:
Terry
Most Chinese investors don't have a high-school degree.
Which is just rot. Most Chinese investors don't touch stocks at all. They see the Chinese stock market as a bagatelle.
The Chinese stock market can crash or not. It will not have a big impact on the economy, because there are hardly any institutional investors - so no banks will fail, no pension funds will go broke. It will just redistribute money amongst the gamblers.
The truth will set you free. But first, it will piss you off. --Gloria Steinem AREPS™
Which is just rot. Most Chinese investors don't touch stocks at all. They see the Chinese stock market as a bagatelle.
The Chinese stock market can crash or not. It will not have a big impact on the economy, because there are hardly any institutional investors - so no banks will fail, no pension funds will go broke. It will just redistribute money amongst the gamblers.
Doesn't matter what you say. 46.6% of investors (new or existing) in Chinese equities don't have a high school education, based on the representative survey. You have absolutely no idea what impact the bubble will have.
Doesn't matter what you say. 46.6% of investors (new or existing) in Chinese equities don't have a high school education, based on the representative survey. You have absolutely no idea what impact the bubble will have.
You originally said "46.6% of investors" i.e. not specifically equities.
"It were not best that we should all think alike; it is difference of opinion that makes horse races." - Mark Twain on why he avoids discussing house prices over at MacroBusiness. "Buy land, they're not making any more of it." - Georgist Land Tax proponent Mark Twain laughing in his grave at humourless idiots like skamy that continually use this quip to justify housing bubbles.
Sure, it might be just a transfer of money from one Chinese to another but it's embarrasing and will make the Gov. look bad if it's exclusive club crashes.... best kick that can down the road as well
Doesn't matter what you say. 46.6% of investors (new or existing) in Chinese equities don't have a high school education, based on the representative survey. You have absolutely no idea what impact the bubble will have.
Making things up again I see, you bad dog.
Quote:
Some 67.6% of households that opened new accounts in the past quarter haven’t graduated from high school, according Orlik’s chart, which comes from a large-scale quarterly national survey of household assets and income conducted by Gan Li of the Southwestern University of Finance and Economics. Only 12% have a college education. Among existing investors surveyed, only 25.5% lack a high school diploma; 40.3% have finished college.
You have completely missed the point of the article. They make a pretty valid point that the stock market looks bubbly because it is relatively uneducated people who are piling in. When you consider that the educational profile of the new stock investors is well below the profile of the population at large, it becomes even more pertinent.
You take it to mean that all investors are uneducated - which even according to the information you claim to be quoting is just not true. You really need to read stuff more carefully. That or just git under the house and lie down.
The truth will set you free. But first, it will piss you off. --Gloria Steinem AREPS™
You have completely missed the point of the article. They make a pretty valid point that the stock market looks bubbly because it is relatively uneducated people who are piling in. When you consider that the educational profile of the new stock investors is well below the profile of the population at large, it becomes even more pertinent.
You take it to mean that all investors are uneducated - which even according to the information you claim to be quoting is just not true. You really need to read stuff more carefully. That or just git under the house and lie down.
No, I am describing what the research says. You need to turn your energy and efforts onto showing how the survey is not representative of the equity owners.
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