The gnomes of Hong Kong.
Almost a year ago I lost a long member which had invested millions in smaller cap Thai stocks. He started to panic on me in June/July 2009. I took the time to write him a long letter making the case that it would be a huge mistake to bail out now -because while Thailand has its problems and political issues all so well reported, it does not have the debt levels of the West! The public and private debt levels of the West is what is the real global trauma.
To no avail, Morgan Stanley in Hong talked him into it and ever since he trades ETF's with them, yes at good commission rates. Had he not bailed out his Thai port. of value shares then, it would be worth more then double today. I am sorry I was not more effective against those big boys whom always claim to know it better in the big cities.
Here below is how I dared to wrote the broker there today which regularly comes to Bangkok scaring big Thai investors/nationals to diversify out of Baht and Thai shares.
Renaud & Associates Ltd.
Unbiased Thai Equity Research.
Paul A. Renaud.
- from Morgan Stanley, USA - to over 20 years on location analyzing the Thai Stock Market.