Tuesday, July 6, 2010

China's AgBank Raises $19.23 Billion, Largest IPO Ever

I become wary when I see the 'superlative' words like "largest".

The last superlative I remember well was the "tallest" building in the world, Burj Dubai. It reached the "tallest" status in July 23, 2008. Two months later, a full-on financial crisis was on us; then a few weeks later the US stock market crashed, dragging the entire global markets down and triggering the severest global recession since the Great Depression.

That led me to believe in the skyscraper index, and to watch out for extreme sentiments expressed in superlatives - tallest, largest, best, worst ...

So what will happen now, after the "largest" IPO in history by the last of the China's big banks with the weakest balance sheet?


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