ML China Says Prices "Out of Control"
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May 20, 2007 5:55 am
http://www.bloomberg.com/apps/news?pid=20601014&sid=a6Y5 CcbF5Opw&refer=funds
[quote]May 18 (Bloomberg) -- Merrill Lynch & Co.'s China chairman said investors should pare their holdings in the nation, where the benchmark stock index has rallied 84 percent this year.
``Valuations are too high and it's getting out of control,''
Liu Erhfei told a private equity conference in Beijing. ``This is
a good time to exit, which by definition means it's a bad time to
invest.''[/quote]
When the man from Merrill isn't bullish....
I think it was Goldman that came out earlier calling it [Chinese stock market]
a speculative bubble. But I predict no slow down in toilet paper sales.