Bank of China: model of inefficiency
Source: http://blogs.moneyandmarkets.com/blog/china-and-asia-stock-alert/0/0/bank-of-china-model-of-inefficiencyPosted on Wednesday, August 13th, 2008 | In Asia, China, Market Commentary
Contributed by: Tony Sagami (http://blogs.moneyandmarkets.com/blog/china-and-asia-stock-alert) -
I went to a Bank of China branch yesterday to exchange some currency and I was shocked at the pathetically slow service there.
The Bank of China is one of four state owned/controlled banks and I can tell you that it is as inefficient, slow, and overstaffed as you would expect a Communist-run bank to be.
I had never invested in a Chinese bank and I am now quite sure I never will now.
Last 5 posts by Tony Sagami
- World Bank Calls China: A “Ray of Hope” - April 14th, 2009
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- Following the Warren Buffett of China - February 17th, 2009
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Tags for this Post:
Asia, Bank, China, Market Commentary, state owned/controlled banks, The Bank of China
Asia, Bank, China, Market Commentary, state owned/controlled banks, The Bank of China
 About Tony Sagami (http://blogs.moneyandmarkets.com/blog/china-and-asia-stock-alert)
Tony Sagami, a veteran investment advisor and a leading expert on Asian markets, is the owner and founder of Harvest Advisors, an investment research and money management company. Mr. Sagami has been managing money for more than 20 years and is one of the early pioneers in the application of technical and quantitative analysis to mutual funds and stocks. He is a featured contributor to Weiss Research’s daily e-letter, Money and Markets and monthly Safe Money Report as well as the editor of Asia Stock Alert. Prior to establishing his own firm, Mr. Sagami was managing director at W.E. Donoghue & Co, serving additionally as the director of investment. During his successful career, he also held the position of account executive at Merrill Lynch. Mr. Sagami’s views on Asian markets, specifically Chinese investments, have been featured in publications such as The Wall Street Journal, Barron’s, Kiplinger’s, Smart Money, Business Week, New York Times, Washington Post, Investors Business Daily, Bloomberg, Financial Planning Times, Mutual FundsMagazine, Chicago Tribune, and the LA Times, as well as on CNBC and CNBC Asia. Mr. Sagami holds a degree in economics from the University of Washington. |
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