Monday, September 15, 1997
Investing From the
Other Side of the World
by Mike Williams
([email protected])
I never cease to be amazed at this world in which we live. My family and I are American expatriates who live and work in China -- a half world away in more ways than one. Yet through the miracle of modern technology, I can be a full participant in the U.S. stock market. (I'm very aware of the obvious contradiction of taking part in capitalistic ventures while living in one of the few remaining Communist countries.)
In 1991, when we first moved to our city, which is roughly the size of Chicago, we could not buy one item that was familiar to us. A year later we cheered when Coke finally came. Just imagine our jubilation when we were able to purchase Snickers bars the following year. We had to ride our bikes across town to the only store that sold them, but it was worth the trip.
Next month McDonald's will open their first restaurant in our city. Not only can I get Coke, but Diet Coke too, and even Pepsi. My children wear Nike shoes that we bought here and I am wearing a shirt with a Wal Mart tag. We have seen some changes!
What is investing like from the other side of the world? Well, it's the same -- only different. I use the same electronic broker that you do, buy the same stocks you do, read the same news (The Motley Fool) you do, and get 15-20 minute delayed quotes just like you do.
The difference? Everything happens while I'm asleep. The markets open a couple of hours before I go to bed and close before sunrise at 4:30 a.m. It's kind of fun to get up in the morning and see if I've gained or lost money while I was sleeping. It's easy to resist being a day trader when one is sleeping through the whole thing.
The biggest difference is that I can't receive CNBC or the other Wise financial news reports to hear the latest "stock tip." I guess some things are better done at a distance.