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Opinions Michael Bowman
Global X China FinancialsCHIXTOP PICKNov 27, 2013
$14.17
Stock price when the opinion was issued
$10.57
As of Feb 16, 2024. Market Open.
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It's the ideal tool to help you make quicker, more informed decisions for managing and tracking your investments.
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PAST TOP PICK
(A Top Pick Nov 27/13. Down 5.64%.) Feels this has established a pretty good bottom at around $12.50. Chart shows a good support. This has 3 really large Chinese banks and they have been given approval by the federal reserve in the US, the open branches of their bank in the US. You are going to see the time when Chinese banks are buying US banks.
Michael BowmanOwned
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This is tied not just to financials in China but also because Beijing might make a play for Wall Street. The Federal Reserve has now allowed 3 Chinese banks to come into the US and set up shop. These 3 are positioned 1, 2, and 4 in this ETF. There are about 22 bank positions in this one. The biggest one is Industrial Bank of China, which has $2.7 trillion of US assets.