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Never risk investing in in western financial institutions!
Dec 4, 2008 03:17
  • DREAMLIFE
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Yesterday, Lou Wei, the chairman of China Investment Corp., said that CIC wouldn't risk investing in western financial institutions anymore. Because of the global economic recession, many western banks are already bankrupt. Investing in the financial institutions is just to waste your money. Do you have anything to say?
Dec 6, 2008 03:40
#1  
  • GEARBOX
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The statement has finality that I disagree with. If history has taught us anything, it's that everything is cyclical. I do agree that bank stocks may have a longer recovery time than most, but it will return, especially from the current depressed levels. Writing off the US banks is like writing off the US economy, which in my opinion, still has more than a few more years left.
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