Episode 38: China’s Con Game

Newt's World

Gingrich 360

News, Politics

4.6 • 6.4K Ratings

🗓️ 13 October 2019

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

American investors are being conned into investing in Chinese companies traded on U.S. stock exchanges that have misrepresented their values and over-inflated the stock price. Part one in a new three-part series.

Transcript

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0:00.0	Hi, this is Newt. 2020 is going to be one of the most extraordinary election years of our lifetime.
0:05.2	I want to invite you to join my Inner Circle as we discuss each twist and turn in the race in my members-only Inner Circle Club.
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0:29.3	I'll send you a free, personally autographed copy of my book Yetisburg and a VIP Fastpass to my live events.
0:37.6	Join my Inner Circle today at Newt's Inner Circle.com.
0:42.1	Use the code FreeBook at checkout.
0:45.1	Sign up today at Newt's Inner Circle.com, code FreeBook. This offer ends January 31st.
0:52.7	On this episode of Newt's World, we begin our three-part series about China, starting with a look at how Chinese companies are trading on US Stock Exchange.
1:09.5	But is there a market value really what they say It is?
1:13.4	My guest today will tell you about their experiences investing in these Chinese companies and about their inflated valuations.
1:21.0	And the shell game they are playing on American investors.
1:24.6	I'm pleased to introduce my guests, Dan David, founder and CEO of Wolfpack Research, and racenader, an American investor who lost part of his retirement savings on Chinese investments.
1:37.8	This is China's con game. May the buyer beware.
1:51.8	As I understand it, you grew up in Flint, Michigan.
1:55.0	I did. I'm very proud of that.
1:57.0	How did that experience affect your thinking and the way in which you approach this whole issue of China?
2:05.0	I grew up in very middle class, general motors, Flint, Michigan. People worked in the shop. People were honest. These are salt of the earth. People, to me, I still go back there every year.
2:15.0	It's a very sad situation economically. But just some of the best people in the country.
2:21.0	And my outlook is that we all take care of each other.
2:25.0	Dan, if you don't mind, I'd like to sort of start at the beginning. What's your investment background?
	...

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