Why do we have to listen to this HK Real Estate billionaire (李兆基)'s prediction on HK real estate market? He was the one who has lost HK $50billions in his high flying stock portfolio in mere two months. And he was the one who "proudly" announced to the HK public that the Heng Seng Index will top over 30,000 points. People piled their money into the stock market because of what he said. Now, he commented the HK real estate market will bottom out at the second half of 2009. Right. His company is a major land development company in HK. And he was known as the Asian Stock God.
One good thing though, so far he has not fired any employees but have given them the "double-pay" for end of year.
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