The lights went on for me in 2018 when the MSCI was adding Chinese companies to their international index funds. I realized that all these companies were just a stroke of the pen away from being destroyed by the transnational criminal enterprise known as the CCP. You can’t invest with organized crime and expect a fair outcome. It was clear then but a lot of people thought they could hold out and win in the end. Sad.
Plus all Chinese company’s books are as crooked and phony as Bernie Madoff’s published fund returns.