The China Hustle
China Hustle is another fascinating documentary from Netflix which deals with Chinese companies ‘reverse listing into US shell companies.’
It is a cautionary tale on the age old saying of ‘buyer beware’ and the forces at work that led to companies being listed on the US Stock Exchange with $150m valuations and no underlying business at all!
As always investment banks, lawyers, accountants, financial advisors and auditors get paid their fees along the way to keep the capitalist wheels turning. And, as always, ill informed, unsophisticated investors relying on other people end up losing vast amounts of money and then turn to regulatory bodies and ‘the government in general’ to do something about it. The tale of vested interests, the pointy end of capitalism and the pursuit of pure speculation are all revisited in this fascinating documentary.
After watching this documentary you can’t help thinking that ‘the more things change, the more they stay the same.’
China Hustle is recommended for anyone who intends to invest any of their hard earned capital into stocks.