On Saturday I wrote that China’s high-flying entertainment and media stocks were excellent short sale candidates due to their exorbitant P/E ratios.
As if on cue, all of the eight stocks I singled out have fallen this week, by an average of 15.5 percent. This compares to a 9 percent drop for the Shanghai Composite Index (note: on the day I posted this update the named stocks fell an additional 6 percent on average).
