Why did I sell? Its a toss up between:
- Hold, because its a good company at reasonable valuations and good long term growth potential, and I've got nothing else to buy.
or
- Sell - I may not be able to if things get bad later on. With shares being suspended. And banning those with more than 5% holding from selling. And blaming evil foreigners. Its possible for them to cut off the HK Shanghai link at any time.
I don't think any bursting bubble ever has ever been successfully averted up by a government anywhere ever. The only way they could do it - and its just possible in China - is to order the banks to print money and buy whatever price the market offers. They will do whatever it takes. See the nice chart here.
Hope that, after the carnage, I can buy back at a cheaper price later.
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I'm now 91% in cash. Buffet said it best - like an oversexed guy on a desert island. Still nothing to buy.
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