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As US Soars, Chinese Stocks Crash 13% - Worst Week Since Lehman
As the carnage began last night in China we noted the extreme levels of volatility the major indices had experienced in recent weeks. By the close, things were ugly with the broad Shanghai Composite down a stunning 13.3% on the week - the most since Lehman in 2008 (with Shenzhen slightly better at down 12.8% and CHINEXT down a record-breaking 14.99%).
Over 1000 Chinese Stocks were limit-down last night!
Chinese stocks have gone nowhere in a month
The current crop of farmer/housewife-turned-trader has never experienced anything like this and so Monday's (Sunday night) open will be fascinating especially if Greek events are roiling.
Of course, a glance at record highs in US equities confirms there is nothing to fear but ignorance itself.
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To put this in context, Chinese stocks lost almost $1 trillion in market cap last week - 10% of its GDP!
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SINCE LEHMAN!!
We're gonna see a LOT more "since Lehmans" very soon.
Well that's the quickest escalation on some folks since Lehman
The Casino is alive & open for business, place your bets folks, place your bets!!!
Step right up, don't be shy, you can't win if you don't play!! (You can't lose if you don't play either. :)
Calm down, it's just BTFD on a larger scale. Or maybe you thought that the Westerners have a monopoly over the algos...?
They just need HFT's and the advice of Saint Krugman and put GS on retainer......
The personal economy is however linked to the nationwise economy through taxes and charges. The state may also be in debt to you regarding future pensions. And each one may also hold a not so insignificant amount in private pension funds etc.
The fact that everyone lose out because of the casino is given, regardless if they actually play the casino or not.
But you can somehow influence if your are just going to be screwed, or if you are going to be totally arseraped.
Thank God "since Lehman" made it back in to a story. I was begining to have "since Lehman" withdrawal symptoms.
Last weekend I had my worst hangover since Lehman.
"Hangovers are God's way of telling you "You had a kick ass time""
This morning I saw the hottest girl ... since Lehman.
I know...
I was drinking way too much..
See? I'm not the only one besides Taffy..
Wi Tu Lo
Down $1 trillion. About the amount that was spent on IPOs last week in China. Coincidence or causation?
You decide which is right, and which is an illusion.
The new drinking game "SINCE LEHMAN"
When you read SINCE LEHMAN on ZeroHedge in the coming days and weeks knock back your choice of an adult beverage. But have Uber on retainer....because you won't be driving for quite some time.
So... the most "since Lehmans" since Lehman?
I am so jealous of countries with non-manipulated markets...
The Chinese market is the most manipulated ever. The whole thing is dependant upon cheer leading by the government, while they sell off money-losing, debt encrusted state owned enterprises off to clueless peasants, who think that because the market has the state's blessing, it will automatically go up. This is the most cynical manipulation of financial markets in history.
The oligarchs will spend their ill-gotten gains on escape mansions in Vancouver or San Francisco or London, and bide their time till the guillotines come out.
Which won't be long now.
Worst Lehman since a week. Who'd a thunk it?
You reap what you sow ...
Since Lehman..
Piece of shit who aided and abetted many of today's problems get a cushy job, where? at a bank of course.
Barney Frank is joining a bank boardhttp://www.businessinsider.com/barney-frank-of-frank-dodd-act-joins-bank...
Eric Holder is working at JPM for a $77 million 'salary'.
This is why they are rightly called kleptocrats.
That POS was the corner stone to the last financial collapse.
Will he be sitting or under the boardroom table?
Chinese Central Banks need to step up their support of the Pvt Markets. Come on China! Don't you understand free markets? Alt-p!
All the housewives went short last week .. so they are even richer now .. ;)
BTW, the senate has passed a defense bill giving $300 millions in arms to Ukraine, including anti-tank weapons and radars. With let's say 200 million in anti-tank weapons, they can get about 125 launchers and 1000 missiles.
Putin won't like that at all.
10 % will disappear just right after arrival. 45% to the "east-party" in that war and 45% for the "west-party"
after 6 weeks 100% will be used against each other or be "evaporated" to ISIS or chechnya or russia for "studies"
"Bath House we are all moving our assets East. You MUST start a war in which the decepit US Military is wiped out."
"George, look, I've been busy with the Race War."
"I don't care, Bath House. Get with it! You can be replaced, my friend."
"Since Lehman..." - Bring it on bitchez!!
There's going to be some angry Women in China this weekend.
There's a lot of dudes in China, that are not "gonna get lucky" this weekend!!
Tis but a scratch....
tulip revolution preparing to eat its children
Damned meds, giving double vision.
I'm confused. BABA had a 57 P/E and it's ten per cent off its high while Amazon has a negative P/E and is ten per cent off its highs.
At least BABA HAS a P/E and its market cap is higher than AMZN, but one would think that with a negait.........oh......nevermind.
P/E... higher is not better
A P/E of 1,000,000,000 is better than a negative P/E. That is/was the point in comparing the two. Of course, Amazon is just around the corner of controlling the entire market and then being able to jack up margins to start making a zillion/share.
I usually find I can get better price on eBay than Amazon. If Amazon raises their margins, they'll lose volume to eBay.