Investors warned over A sharesby Avery Chen
Martin Wheatley, the former head of the Securities and Futures Commission in Hong Kong, said China's economic growth is "a fiction" and the A-share rout will get worse.
"There are many reasons for investors to steer clear of Chinese stocks," Wheatley said in an interview with Market Watch. He explained that A-share investors have profited little from economic growth, as corporate governance of China's listed companies is undeveloped.
Wheatley said he couldn't invest in Chinese equities when he was a regulator because of too many constraints. However, he still stays away from A-shares even after leaving the SFC.
He warns investors "to take China's growth rate with a pinch of salt," as "each of the country's 14 major regions reports their own growth rates, which by some strange quirk of Chinese maths are all above average."
Source: The Standard
http://www.thestandard.com.hk/section-n ... r=20181029
It's all about "how much you made when you were right" & "how little you lost when you were wrong"