Word of the Day: “Baofahu”

“a Chinese term for people who have experienced an “explosion” of wealth but lack financial and cultural sophistication. Shanxi is a hotbed for such investors, many of whom got rich during the coal boom. “They just look at the yield,” he says, “and they don’t pay attention to the risk. And sometimes the bank’s salespeople do not explain the risks properly.”   –  FT,  1/2/2016

(WOTD = Word of the Day)


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