Ordinary Gweilo

 There’s a bizarre story on the front-page of the SCMP today (HK’s star stock-picker revises market target – subscription required):

Lee Shau-kee picks stocks pretty well for a 79-year-old grandpa who spends his mornings in massage and meditation. And Mr Lee says the market isn’t going to climb quite as fast as he once thought.

As he has done with increasing frequency, the Henderson Land Development  chairman has again changed his targets for the market, now predicting the blue-chip index will hit 30,000 around the Lunar New Year and 33,000 in the autumn. He toned down his predictions after the monetary tightening and credit crisis tripped up the market. His earlier targets were 30,000 by year end and 33,000 by the Lunar New Year.

It’s a lovely graph, and it shows that all of Mr Lee’s predictions have turned out to be, er, rubbish.  Especially the first one.  Not that the story itself says anything as disrespectful as that.  Oh no.