Tinker Tailor Soldier Investor – the problem with Chinese stocks

It’s never a good sign when you get unsolicited investment tips at a stand in a bustling street market. This is what happened to me twice in five years. The first time was during China’s unprecedented stock market rally in the spring of 2015, fuelled predominantly by what banks call retail investors, or “mom-and-pop†investors, that is to say, private investors who play the market.An elderly lady who used a contraption with four different lenses over her ordinary glasses to fix tiny machines looked up to tell me to “get into the stock market.†She added that “as a foreigner,†I must have had s…

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