# "These 18 Years, the Tragic Generation of Chinese Investors"

I am a witness to these 18 years! This clipping from the *Southern Metropolis Daily* – "Shanghai Stock Exchange breaks through 6000 points" – I've kept it for 18 years! From 2007 to March 2026, the world's major stock markets have staged a cruel contrast of fire and ice.

In October 2007, the Shanghai Composite Index surged to its historic peak of 6124 points, yet today it hovers around the 3870-3950 point range, with cumulative losses still approaching -35% or even deeper. Except for China, virtually every other country's major index has recorded astounding returns: the US Dow Jones skyrocketed 210%-220%, Japan's Nikkei 225 soared 280%-300%, India's Sensex surged 380%-420%, Germany's DAX and Sweden's OMXS30 and other developed markets commonly doubled or more. South Korea, Switzerland, France and most other indices saw gains between 150%-250%. In simple terms: over these 18 years, buying stocks in virtually any major country outside mainland China could basically make you money, even multiplying your wealth several times over. Only A-shares became the world's most tragic exception!!!

Over these 18 years, China's stock market not only completely missed out on the super bull market sweeping the globe, but instead trapped tens of millions of ordinary retail investors in the mire, losing everything. Many people have since directly equated "stock investment" with "gambling," completely losing faith in the capital market and all hope of achieving wealth growth through legitimate channels.

These 18 years witnessed the crazy redistribution of global wealth, and also reflected the cruelest dream shattering of a generation of Chinese investors: others celebrate, we weep.

This is the tragedy of a generation of Chinese investors.