My first time investing in China
I feel like a virgin all over again.
For the first time ever I have actually invested a good chunk of money in China. How did this happen you may ask, because everyone knows I put Scrooge to shame in the tightwad department.
Well it goes like this, I came home for work after 13 hours working and I’m fucking tired all I want is something to eat then hit the sack and as I’m rummaging around trying to find something in the fridge that hasn’t expired. Sammi come up and says “I wanna ask your permission to purchase something” Since my main interest was in eating some food I said “Ok, sure, you have my permission.” Without actually waiting to hear what it was. I guessed it was shoes, clothes or something for around the house and since I had a good day I felt generous.
So I asked her what she wanted to buy? and she said “I don’t wanna buy anything I want to invest in something at the bank” My brain slowly woke up to the fact she wasn’t asking for a couple hundred but she was talking about serious money not petty cash. Then my brain realized it had had a long day and didn’t wanna argue so I gave in without a fight and said OK again. Sammi was surprised how quickly I agreed so she checked a few more times to be sure.
Two days later, Sammi went off to the bank with her father, because her father’s friends with the banks investment manager. Few hours later we were the proud owners of a bunch of bonds, and some things similar to stocks in 3 companies I have never heard about.I have never trusted Chinese companies so I said a tearless goodbye to the money because I didn’t believe it would ever workout and I figured we would lose most of it when the companies crashed.
So I’m sure you can imagine my shock when Sammi checked our account online 2 days later and found we had earned 700rmb already. Huh i guess some Chinese companies don’t fuck up or try fuck you over. I wanted to sing and dance but then I remembered my sore throat and fever and crawled back into bed.
Posted in China General, My life
I'll do this later because I'm really lazy and I'm sure its of no real interest to you anyway.
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September 17th, 2007 at 7:12 pm
Hey man, sounds like a good investment! It won’t be long and your will be riding a new bike the way your going.
September 18th, 2007 at 11:16 pm
Or forced to ride one permanently for lack of being able to afford better transport
That 700 could be gone tomorrow.
September 19th, 2007 at 4:39 pm
HAHA yeah that Chinese investment goes up and down more than Chinese KTV girl
September 19th, 2007 at 11:05 pm
Mate, Chinese women are so sharp. She would not risk mutual coin unless there was a coin to be had.
I am still very leery about buying stocks in China due to :
a. Lack of transparent company financial audits
b. Preposterous illegally inflated brochures inviting investment
c. Cunning bastards (picture shit-house rat with a gold tooth)
d. The raft of bastards at C. fleeing overseas with YOUR money
e. The same thing happens in Australia
f. Guanxi, and mates in high places.
Same reason I jack up at the idea of buying an apartment here in the Zhou. There is no guarantee I could sell the apartment in 2010 - planned departure date.
Moreover, if we saved, moved out of JYY back to Xu Jia Bang and lived like paupers in a slum for 3 years we *might* have a 40% downpayment.
Sorry to hear you are still crook. Take care mate, look after the kittens and God will reward you. Cat man myself
J.
September 29th, 2007 at 3:05 pm
i second what jamieson said. i wouldn’t touch any chinese companies on the Shanghai/Shenzhen market with a ten foot poll. if you want to invest in china do it from the Hong Kong market or buy mutual funds/ETFs back in north america.
October 3rd, 2007 at 4:01 pm
screw you for not trusting China, how about ERON in usa or many other of your fuckin companies who stole your savings? Why you in China if you dont have confidence jackasses. get a higher education and find out how you’ve been taken to the cleaners by your own western system.
October 4th, 2007 at 1:27 am
Steven, sit down. We’ve something difficult to tell you, but wouldn’t be doing so if you weren’t just so darn important to us all.
Steven [sigh], we’ve all come here today to, well, to …. god this is difficult …. to tell you that you’re a fucking dumb ass.
What Enron did was huge, absolutely giant news in the US, and the rest of the world. It was news because they raped and pillaged a system that people trust and believe in.
That happens every day here in China. No comparison. It doesn’t make the news as frequently because it is just not that interesting. Everyone expects it and it’s business as usual.
I’ve not an ounce of confidence in Chinese businesses operating fairly and without self-serving preference to an elite few (with little to no regard for their investors and stock holders). What the fuck does that have to do with living in China?