This afternoon I went to dinner with the friend I mentioned last time, and asked him again about his views on A-shares. The two friends had relatively consistent views, that the more it goes up, the more they should sell. I also told them about the views I discussed with the “old stock investors” yesterday. The two experienced “small shareholders” still maintain their own views and do not make clear expectations for the future. As long as the price goes up, they will sell. So far, A-shares and Hong Kong stocks, mainly Hong Kong stocks, have been reduced by 30% to 50%.
Both of them hardly bought in this market. They left the market after their previous positions were unwound. Moreover, both of them are friends in the mining circle and have retired for many years at a young age.
It's quite interesting. The two different groups of people who talked to me about A-shares this time represented different perspectives and gave completely different conclusions, but their backgrounds were surprisingly similar, except that one side was pure "retail investors" and the other side was "small shareholders" of listed companies. So how to choose depends on your own judgment, but today's decline in Hong Kong stocks did calm some FOMO friends down.
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