A Simple Way to Beat the Market
What would you do if you were told your property rights were going to be taken away in 15 years?
This was the question that faced Hong Kong citizens in the early 1980s, when it was widely known that Britain's "lease of the new territories" was expiring in 1997. At the expiration of this lease, Hong Kong was going to be handed back to the People's Republic of China, a country that didn't guarantee property rights.
The future of Hong Kong looked grim. Investors were predicting mass emigration from Hong Kong, a flight of foreign capital, and a subsequent economic downturn. It's no wonder that between 1983 and 1985, Hong Kong was the cheapest country in the world relative to its historic valuations.
Then, in December 1984, Margaret Thatcher and Deng Xiaoping, the then-leaders of Great Britain and China, respectively, signed the Sino-British Joint Declaration. Under the agreement, the way of life in Hong Kong would remain unchanged for a period of 50 years.
With the signing of the declaration, came an end to uncertainty, and Hong Kong recovered to more normal valuations. But what if you had invested between 1983 and 1985, when Hong Kong was the cheapest country in the world?
Contoh Proposal
This was the question that faced Hong Kong citizens in the early 1980s, when it was widely known that Britain's "lease of the new territories" was expiring in 1997. At the expiration of this lease, Hong Kong was going to be handed back to the People's Republic of China, a country that didn't guarantee property rights.
The future of Hong Kong looked grim. Investors were predicting mass emigration from Hong Kong, a flight of foreign capital, and a subsequent economic downturn. It's no wonder that between 1983 and 1985, Hong Kong was the cheapest country in the world relative to its historic valuations.
Then, in December 1984, Margaret Thatcher and Deng Xiaoping, the then-leaders of Great Britain and China, respectively, signed the Sino-British Joint Declaration. Under the agreement, the way of life in Hong Kong would remain unchanged for a period of 50 years.
With the signing of the declaration, came an end to uncertainty, and Hong Kong recovered to more normal valuations. But what if you had invested between 1983 and 1985, when Hong Kong was the cheapest country in the world?
Contoh Proposal
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