We all are bubble expert now.

Just 50% off the low, people already called it a bubble, hmmm interesting. Since when we all become so cautious, I wish they were about 1 - 11/2 year back.

(The Business Times) (SHANGHAI) China is at risk of a stock market 'bubble' that may burst as investor confidence in the nation's economic recovery weakens and bank lending slows, according to China Galaxy Securities Co, the nation's largest brokerage.

The Shanghai Composite Index has surged 50 per cent since last year's low on Nov 4 amid signs that the government's stimulus measures are reviving the world's third-largest economy. The gains have driven valuations on the index to 27.2 times earnings, the highest in a year and Asia's third most expensive. These levels are 'signs of a bubble', Galaxy Securities strategists, led by Teng Tai, wrote in a report.

Click here for the whole story: http://www.businesstimes.com.sg/sub/news/story/0,4574,331832,00.html?

When I first featured China Morgan Stanley A Shares(NYSE: CAF) in Mar 10, 09 it was selling for about US $ 26/share and today is selling for about US $ 38, appreciated by almost 46%. This fund has traded at a 37% premium over its NAV. Wow, what a day and night when sentiment tides turn.