This is a reminder to ordinary folks not to gamble their hard earned savings in what is essentially a casino stock market where valuations bear no relation to the earnings of the companies.
China stocks trader counts his losses: 'Never trust the government'
Plato got his nickname when he was a student in Manchester. But he's not feeling like the philosopher king now. His finance degree helped him get a management job at a Beijing hospital. But it didn't warn him off the rollercoaster Chinese stock market. Monday's plunge in prices was the last straw. The 28-year-old has just sold half his stocks for half of what he paid for them. "I feel so disappointed. I needed that money for the downpayment on an apartment. I was hoping to buy something near a good primary school for my son." Like many young Chinese of his generation, surfing the next big investment ... (full story)