China’s Illusory Retail Investor Class – Business Week
From Business Week:
The heartwarming story of everyday workers making millions in mainland stocks is a myth.
If there is a warm heart beneath the cold, hard cash that dominates the rise of China’s stock markets, it is the retail investor. These are the old ladies, young mothers and overworked taxi drivers who felt the squeeze of a four-year bear market but can now smile at the Shanghai Composite Index reaching record highs.
By all accounts, these retail investors are rushing to the market in droves . . .Unfortunately, this everyman quality is also somewhat misrepresented. [Full Text]
See also the New York Times report on China’s stock market.