Unfortunately (or happily for me?), I like and take a "simpler the better" attitude towards all financial markets these days. Naive I may be, but at least I am still around (financially) to talk about it.
ADR's smell very much like derivatives to me and, given they appear to have been "created" by the US financial fraternity , I wouldn't trust them as far as I could spit. (Oooops...nearly had me getting off onto another topic altogether here!!)
Your typically well presented diagram clearly demonstrates the complexity of each transaction and I can't help but wonder why ADR's were even needed to be designed at all and, who the real beneficiaries are of each transaction. Dangerous stuff.
CDY Price at posting:
22.0¢ Sentiment: None Disclosure: Held
, I wouldn't trust them as far as I could spit. (Oooops...nearly had me getting off onto another topic altogether here!!)
