One year ago, Sept. 19th, was the largest IPO in history, Alibaba...
Fast forward one year:
Dead unicorns visualized:
Watching Chinese gamblers lose everything looked like so much fun, that they decided to try it here too:
Throwing money away while pretending to be wealthy...Who wouldn't want to do this?
"China is set to record its weakest growth in GDP in 25 years. Yet it seems to have entered a bull market and may be where we deploy much more of our risk capital next year...the recent exuberant run up in onshore Chinese equities seems to me to amply demonstrate the power of imagined realities...The Chinese state is the largest shareholder in the Chinese financial system. That surely makes its ability to stave off a liquidity crisis pretty much limitless..."
"Good job, bitchez. The money's in the Caymans"