International investing is dead on arrival, at least until we transition to the new system
10/24/22 - 3 min read
Chinese ADRs will eventually go the way of what happened to Russian ADRs. It's unbelievable how very few are concerned with it. Know where your money is.
Warren Buffett was smart enough to get out of the way, at least that one time as he already exited his position in the Chinese electric car manufacturer BYD. Even with today's staggering losses in Chinese ADRs, international investors are totally blind.
Modern portfolio theory convinced the masses that owning international investments was a good idea. And although it may have been good for pockets of time, now that the dollar (the global reserve currency) is starting to see large fissure cracks, and we watch as other geopolitical events escalate, watch and witness as many investors will have to completely write off their international investments!
If you own any international investment or even an index fund, some of these Chinese ADRs will be in there, especially since MSCI (the company that decides what goes into the index) heavily overweighted Chinese mainland A shares in 2019, how convenient! The indexes play the masses like a fiddle...
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