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BusinessLogr > Industry > Don’t buy Chinese stocks with ‘worst enemy’s money’
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Don’t buy Chinese stocks with ‘worst enemy’s money’

deep
Last updated: 2015/12/20 at 6:30 AM
deep Published December 20, 2015
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After a stunning plummet earlier in the year, Chinese stocks are again on the rise, with the Shanghai composite up more than 18 percent this quarter. But one investor still says that he’s staying away at all costs.

“I wouldn’t use my worst enemy’s money to buy these stocks. We would avoid China altogether,” said Chad Morganlander, portfolio manager at Stifel Nicolaus’ Washington Crossing Advisors.

On CNBC’s “Trading Nation” on Friday, Morganlander listed several reasons why investing in Chinese stocks may be dangerous, including decelerating economic growth, high levels of debt and rising valuations. Trouble in China could translate into U.S. equities as well in 2016, he said.

“We think that the Chinese economy is going to be a major anchor for global growth in 2016,” Morganlander said. “And that will be dragging down valuations or at least keeping valuations across the board on the S&P as well.”
[“source -cncb”]

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deep December 20, 2015
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