Itching for a sequel.
China’s economy is, you might say, a bit on the ropes.
It’s stock market is already down 15% this year. And this year is 11 days old. And the government, although it’s doing a whole lot of stuff, often competing stuff, doesn’t seem to know what the hell it is doing.
In such trying times, you know what China needs most? That's right, financial minds who will make safe and brave decisions to rescue one of the world's most important economies.
But what China is getting are these guys:
John Meriwether is an early financial backer of Shanghai-based Sycamore Investment Services, said Chief Executive Officer Jeff Li, who formerly worked as a strategist at LTCM. Huang Chi-fu, who co-headed the Asia office of LTCM’s hedge fund that collapsed in 1998, is one of the founders of Sycamore and also an investor, Li said….
The need to spread assets more widely has been underscored by a volatile stock market and a currency that’s falling against the dollar, with options traders betting on more declines.