[Ads-l] "the levy's going to break"

[Joel Berson]

"What's happening in China is a mirror image of past crashes elsewhere—right down to regulatory bodies (China's Securities Regulatory Commission and the China Securities Finance Corp.) stepping in to purchase blue chips and small-cap stocks in an effort to bolster morale and dam the dike. Typically, when the government moves in as a buyer of last resort, one wishes one had already left the resort … and when one resorts to plugging the dike, you'd better be heading for the hills, since that's code for "the levy's going to break"."

>From an investment adviser's on-line weekly report.

I am not in enough to know whether "levy" as financial argot might be meaningful here.  (Although I enjoyed the pun on "resort".)


Joel



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