Why I became a shadow banker?

Not me, but this is the story of a former banking executive that took up shadow banking in China. It is quirky, interesting, and telling.

[quote]In the fall of 2010, as deputy head of China investment banking at UBS, I spoke to a group of wealthy investors in Beijing about the outlook for Chinese stocks.
A rumpled, 50-something man from Hangzhou named Wang Zhigang pulled me aside afterward and asked for my advice about investing. Until then, he had made his money through curbside lending, not stocks.
The threat to China’s financial system is right there - out in the open - not lurking in the shadows.

But, he lamented, his returns had dropped from more than 30 per cent a year to a mere 23 per cent. He worried about his personal fortune, which he had built up from nothing to almost 3 billion yuan (about $490 million back then).

Read more: theage.com.au/business/china … z2YaBe13jm[/quote]

Because you like the way it fits with the Angels’s “Shadow Boxer”?

1979 alright!

[quote=“urodacus”]Because you like the way it fits with the Angels’s “Shadow Boxer”?

1979 alright![/quote]

Ha. Ha. I did think of that. In fact, I watched that very video this morning.