Key Points on China: The Bubble That Never Pops – Thomas Orlik

As an Emerging Markets analyst, the issue on China has always been divisive. On one side, the bear points to high household and corporate leverage, alongside local government opaque finance vehicle that masks the true government borrowing. But on the other hand, the bull has gained the higher ground in the past decade as muchContinue reading “Key Points on China: The Bubble That Never Pops – Thomas Orlik”

China: Peak Housing – Rogoff, K. S.

This piece is a summary of recent NBER paper by Kenneth Rogoff and Yuanchen Yang arguing that Chinese housing market fits the characteristics of a bubble and forms a significant portion of Chinese GDP. The original paper could be found: And the PDF version of this summary could be downloaded: Real estate and its associatedContinue reading “China: Peak Housing – Rogoff, K. S.”

Key Points: The Art of Short Selling -Kathryn F. Stanley

In the past few months, like many investors, I have been fascinated by the meteoric rise of NASDAQ and S&P 500 index amid the slump in U.S. economic activity. Companies like TSLA, which are popular among retail traders, have more than quadrupled in the past year and detach from reality. As market participant, the questionContinue reading “Key Points: The Art of Short Selling -Kathryn F. Stanley”

Summary of 2008 Global Financial Crisis: The Big Short and Inside Job

Both movies tell story about 2008 Global Financial Crisis, but from different perspective. Inside Job took a helicopter view of how the crisis developed while Big Short saw the crisis from the perspective of people who benefitted from the collapse of MBS. Since 1980, financial industry has been experiencing period of deregulation that caused savingsContinue reading “Summary of 2008 Global Financial Crisis: The Big Short and Inside Job”