Upbeat Mood in Shanghai III
By David Feldman at 25 March, 2009, 11:00 pm
I have yet to really comment as to the headline of this series of posts. Anyone who attended the PIPE Conference in New York in October knows how there was pretty much nothing but doom and gloom in the forecast of things to come. But now, in March in Shanghai, real signs of life in the deal world and optimism for the months to come.
The audience was roughly 50% American and 50% Chinese. Unfortunately for yours truly, a higher than desired number of lawyers and other service providers. But the conference included a number of companies presenting, which brought more entrepreneurs to the event, which was great.
With the mini-bull market of the last few weeks and the start of some semi-good news from the US financial sector, which will be key to beginning the economic and Wall Street turnaround, most in the conference felt much better than back in October. One hedge fund guy told me he had just gone into his IRA to buy several US banks’ stock. That is a definite good sign. When we see George Soros and Warren Buffett doing that, no offense to my hedge fund friend, then things might improve across the board.
More to come….
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