Stuff that Keeps Me Up at Night - "The China Hustle"

S

Starsky

Full time employment: Posting here.
Joined
Dec 6, 2016
Messages
572
This is one of the reasons I am so skeptical of our current financial market run and the apparent "success" of our 2009 recovery...

This is a documentary film from the producers of "Enron - The Smartest Guys in the Room" and one that Forbes, Marketwatch, etc. are recommending investors to watch. Just found it recently and I'm not surprised it was hidden. It's an issue that is highly sensitive in Washington, Bejing and on Wall Street. Mark Cuban is an executive producer!

https://www.thechinahustlefilm.com

The hustlers go where the money flows. $1.2 Trillion and counting in U.S. markets. Imagine that bank bailout! (The total 2009 package was $700 Billion)
 
Last edited:
Makes me thankful that I hold a lot of big fat large cap US companies.
 
I did not know of this film, but here's what Wikipedia has on it.

After the financial crisis of 2007–2008, as investment firms in the United States look for ways to improve clients' investment performance while earning money for themselves, they chance upon the idea of selling opportunities to unsuspecting Americans who want to get rich by participating in the "China growth story" but do not know much about the country or its companies. They do so by getting small nondescript Chinese companies (like Orient Paper and Advanced Battery Technologies (ABAT) to do reverse mergers with defunct American companies (like Buffalo Mining) and thus get listed in the NYSE overnight. The hype that accompanies this is aided by paid guest appearances by the likes of Bill Clinton and Henry Kissinger at so called "investment conferences" organized by B level investment firms (Roth Capital is one such firm featured in the documentary), thus adding a garb respectability and reliability...
Click to expand...

The use of "rented" public figures to boost the stock is quite common. Elizabeth Holmes even had tons of them on her board of directors for her fraudulent Theranos company.

I have not been buying any startup. There are plenty of established companies for me to choose from. I don't get rich quick, but do not fear losing my shirt either.
 
I watched this quickly after the OP posted. 1) I had some time today. 2) Others had recommended I watch.

Concerning. I am not quite sure the $1.2T currently invested is totally not backed by something (implying the entire $12T is an ultimate total loss). I thought the story in "The Big Short" was more jaw-droppingly compelling in terms of fraud-upon-fraud.

There are perhaps other aspects of China and events in the region and world that might impact my little world even more than this particular financial fraud.

I flinch a lot these days, even as I see our investible assets hit new highs. I hear the echos of something actionable, but I am not sure what it is.
 
Hmmm...

Directors who don’t direct...

Rating agencies that don’t rate...

Auditors that don’t audit...
 
The trailer looks interesting. My Amazon said $.99 to watch.
 
Stuff that Keeps Me Up at Night - "The China Hustle"

DrRoy said:
The trailer looks interesting. My Amazon said $.99 to watch.
Click to expand...



It was a free rental on Amazon Prime for me.

It was well done and very informative. Confirmed my conviction to stick with boring investments that I think I understand.
 
Last edited:
Too early and I'm growing a cold - thought this was about the film Hong Kong Hustle. Which was my brain misnaming Kung Fu Hustle. Which is hugely entertaining and totally unlikely to make my stomach churn.

 
Thanks for the suggestion. I’m seeing $0.99 rental even though I have Amazon Prime. We have some Amazon digital credits to spend on something.
 
You must log in or register to reply here.

Latest posts

Back
Top Bottom