Article: To See a Stock Market Bubble Bursting, Look at Shanghai - New York Times

SHANGHAI- A year ago, investors like Guan Ling were ebullient. Chinese share prices had climbed over 500 percent in the span of two years, setting off a nationwide stock buying frenzy. When experts periodically warned about the possibility of a bubble, prices would dip temporarily then soar even higher, breaking records and inciting another mad dash to snap up equities. "The market was going wild," says Mr. Guan, 49, who a few years ago closed his real estate company to invest in stocks full time. "Everybody was talking about how much they had earned, how much more they would invest, and which stocks had jumped 20 times, or even 30 times." That was last year. The Shanghai composite ...

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