I've made some bad calls in my time, but I doubt anything will surpass my bullishness toward China-based stocks in 2010.
There really wasn't any reason to believe that China and its newly listed army of initial public offerings weren't set up for success. China's economy was growing north of 10% in 2010 and had average GDP growth of 10% over the previous 30 years. Nearly every company based in China and listed on the U.S. exchanges boasted a healthy cash position, a rapid growth rate, and often a very low price-to-earnings ratio. It was almost too good to be true!
