I wrote the book because of the stock market\'s recent crazy developments.
Some of the stocks that have jumped up in price include GEM shares and New Three Boards,
they are now worth 100 times as much.
This is an incrediable thing.The price of an enterprise on the secondary market
should reflect its management performance and the expectations for the future.
So when people buy its shares they buy the enterprise\'s future.
When your company\'s worth multiplies twenty-fold, it means that people are willing to
bet on your enterprise for 20 years. So when are company is worth 100 times
the original market value, stockholders trust your company will do well for a whole century.
Many companies, for example, listed on the GEM shares have a market value of 60 billion RMB,
and you can find other companies in the industry who are already listed on the NASQ.
They are very good companies, but they only have a market values of 30 billion RMB.
So why is it that one can be worth 60 billion?
Even the bosses of the companies couldn\'t explain that.
I did some research before, about the rising and falling prices of Chinese enterprises\'shares. Then I went to the enterprises to research on the ground, to interview their bosses,
and to check out their performance volatility. It was then that I found market price volatility has no real connection with performances volatility. That means that the future you buy doesn\'t exist. It was a horrible feeling. So I think the Chinese stock market is unhealthy,
and I refuse to get involved.
I started writing a financial column in 1993, and starting writing books in 1996.
This name [Wasting Your Life on Beautiful Things] comes from one of my columns.
I wrote for my daughter when she was 18 years old. She wanted to learn music,
so she dropped out from Vancouver and came back to Shanghai for 2 years to study music.
Actually, her decision was very emotional for me and my family,
so I wrote an article, because I really support her, and hope she can do whatever she likes,
and \'waste\' her life on the beautiful things.
I started working in 1990, and I met a lot of famous businesspeople.
They are the people who had made the most money, in the shortest time over past 30 years.
But I barely met anyone who was happy. I never saw a businessperson laugh like a child.
They live in anxiety every day. Although they have a great deal of wealth,
they always feel that they are pushed to the edge of society.
Chinese society has a serious anti-wealth ideology.
And you will never hear a businessperson discussing Chinese public affairs.
They are also unsure of the role they play in Chinese society.
Although these people look flashy, their actions and thoughts are distorted.
I wrote an article called: The Patient: Wang Shi. We are good friends,
and when you get know more about him, you will find he is indeed a patient.
He thinks that Vanke is a ill company, so he lives on high alert.
And he is worried about his health. In fact, he has a heart problem, he may die at any moment.
He started climbing mountains to exercise.
It\'s both a fun challenge and a method of recovery from his illness.
Gradully, he may start to think differently about life.