Their initial disappointment stemmed from expectations that Facebook would finish Friday with a 20% gain around $45 or $46.
Yet the ability to get in on something -- even a "sure thing" -- isn't always what it is cracked up to be. On Monday, Facebook shares traded around $33 to $34, or 10% below the coveted offer price.
Similarly, over the last 10 years, scores of worldwide investors have clamored to move more of their capital into the world's second largest economy. Yet China severely limits external access to three-quarters of its local corporations. In fact, government restrictions have made China's "A shares" inaccessible to most foreigners.Perhaps ironically, the inability to invest directly in local consumption-oriented industries on the Shanghai Exchange may have been a blessing in disguise. Prices are still down 60% from the October 2007 pinnacle. More recently, however, export-dependent transports and interest-rate sensitive financials in SPDR S&P China (GXC) have struggled mightily. Whereas GXC is flat year-to-date, the Shanghai Composite has gained roughly 10%.
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