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How about of you are the only one buying that sick monkey?.
As long as you are not the last one to buy those monkeys you are the winner.
I am sorry to hear about your losses bentan79. I am also affected by the current market correction but not as jia lat as you.
I bought into Jade at a high price and am now suffering quite a big loss. My lesson learnt is not to listen too much to the hype and do my own research.
This is a story from the Internet (in Chinese and published in Zaobao on 12 Aug 07) . I am translating it into English. Pardon me if there is spelling or grammer mistake(s)
A long time ago, there is a merchant who come to a village. He want to buy moneys from the villagers at $10. As the forest got many monkeys, the villages went in swamp to catch the monkeys. After buying a few thousands moneys, catching monkets is no longer an easy task. The villagers does not have any more selling power too.
The merchant decided to increase the price to $20. The villagers decided to go an catch the monkeys again. After a while, the villagers decided to go back to stop catching monkeys and go back to farming. The merchant therefore increase the price to $25. After some time, the no of monkeys in the forest is getting lesser as the days goes. Even seeing them is hard. This time the merchange increase the price to $50.
However, the merchant want to go into city and decided to hand his task to his assistance. His assistance told the villagers this.... I will sell the monkeys to you at $35 and you can sell the merchant $50. The villagers thought they had picked a bargain and queue to buy from his assistance. However, the merchant and his assistance disapper and the forest is like before, everywhere is monkys. Is this like stock market/property market? The villagers=modern people. The prices of stock/property keep going up but is there a real demand? How many people are investors and traders?
I AM LIKE THE VILLAGERS . If you want to know why, read my other post I created.
Bentan79