I’m growing impatient with all the articles that either say that the market is headed for the toilet or everything is fine. The latest is a string of reports on the China Railway debut, which listed first in Shanghai and then in HK (BTW - kudos to my DLA Piper HK brethren on putting that deal together). This most recent theme is that China Railway reflects the strength and resiliency of the market.

Bullshit. The market is a bit more sophisticated that your average press report. Sometimes stocks are purchased because enough folks out there think they’re a good deal. Good companies will do well, while the bubble riders will eventually come crashing down. This is not rocket science, but it does require some thinking before applying pen to paper.

Was that unduly harsh?