“Albert Edwards [respected by institutional investors in the West), global strategist at Société Générale, likens the hubris among China bulls to the US dotcom boom – where the economy escaped lightly, but many tech bulls were ruined. He says: “A bursting would be really catastrophic for investors, not China. The aggression we get [for bearish views] is similar to the evangelical belief we saw in the tech boom, and we know what happened next there.”” — from FT.
So think twice if you want to buy S-Chips. A company like CapiaLand can survive a bust of the magnitude of the tech bust; but can yr run-of-the-mill S-Chip?