
← Deep Values: Value Investing Deep DivesNew · 17 min
Shanghai vs Dow: How a Flat 3,000 Hid 9% Real Annual Returns | Stock Market
<p>The Shanghai Composite looks stuck near 3,000, yet its history shows 9% real annual returns against 6.6% for the US. With the Dow up 200% since 2020, learn why index math can mislead you about which market is really working.</p><p><br /></p><p>Chapters</p><p>(0:00) The Great Divergence</p><p>(1:00) American Surge vs Chinese Stagnation</p><p>(4:03) Dow Jones Index Mechanics</p><p>(6:02) US Value Engine vs A-Share Financing</p><p>(6:41) A-Share Market Architecture</p><p>(8:20) Structural Flaw in SSE</p><p>(12:05) US Value Engine vs A-Share Financing</p><p>(13:24) Retail Investor Timing Mistakes</p><p>(14:02) Structural Reforms in China</p><p>(15:05) Equity Returns Over Time</p><p>(16:26) Intelligent Investing Tools</p><p>(16:57) Get the free apps</p><p><br /></p><p>DeepValues toolkit</p><p>• Run the numbers on any stock yourself, free: <a href="https://app.deepvalues.ai/?ref=podcast&src=the_shanghai_composite_3000_point_paradox-en" rel="ugc noopener noreferrer" target="_blank">https://app.deepvalues.ai/?ref=podcast&src=the_shanghai_composite_3000_point_paradox-en</a></p><p>• Free Margin of Safety Weekly, every Saturday (guru moves, market temperature, the week's research; no account needed): <a href="https://app.deepvalues.ai/letter?src=spotify&ref=the_shanghai_composite_3000_point_parado" rel="ugc noopener noreferrer" target="_blank">https://app.deepvalues.ai/letter?src=spotify&ref=the_shanghai_composite_3000_point_parado</a></p><p>• Is the market overvalued? Track it with Buffett Indicator (iOS): <a href="https://apps.apple.com/us/app/buffett-indicator/id6747404614" rel="ugc noopener noreferrer" target="_blank">https://apps.apple.com/us/app/buffett-indicator/id6747404614</a></p><p>• The same market gauge on Android, Bubble Watch: <a href="https://play.google.com/store/apps/details?id=com.luluventures.buffett&referrer=utm_source%3Dspotify%26utm_medium%3Ddescription%26utm_campaign%3Dmarket" rel="ugc noopener noreferrer" target="_blank">https://play.google.com/store/apps/details?id=com.luluventures.buffett&referrer=utm_source%3Dspotify%26utm_medium%3Ddescription%26utm_campaign%3Dmarket</a></p><p>• Open-source research on 300+ companies: <a href="https://research.deepvalues.ai/?utm_source=spotify&utm_medium=description&utm_campaign=market&utm_content=the_shanghai_composite_3000_point_parado" rel="ugc noopener noreferrer" target="_blank">https://research.deepvalues.ai/?utm_source=spotify&utm_medium=description&utm_