When I bought some Lion-OCBC Hang Seng Tech ETF, many readers were surprised.
AK the IT dinosaur buys Chinese tech stocks?
Alamak!
Growing senile liao lah!
Well, for those who don't know, read:
Trading Chinese tech stocks for pocket money.
Yes, AK isn't really investing in Chinese tech stocks.
AK is trading Chinese tech stocks.
OK, to be honest, there is also an investing element because I only got interested in Chinese tech stocks after their share prices fell from the sky.
Basically, in recent months, Chinese tech stocks have been trading at valuations which value investors might find interesting.
They were trading at what I thought were crazy high valuations before and proponents were all saying high PE ratios were reasonable for these tech companies.
As it turned out, those crazy high PE ratios were only possible because interest rate was zero or even negative.
Then, there were some meme stocks...