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Many people believed the Beijing Olympics would spark a multi-year bull market for China.
Leading up to the summer Olympics, the best think tanks in the world were putting out glowing reports of a new juggernaut economy that would lap the United States in a few short years.
At the start of the games, the Chinese market quickly came unglued.
Several ETFs that gave investors indexed exposure to Chinese stocks saw their values get hit for as much as 70%.
The iShares Xinhua/FTSE China 25 Index Fund (NYSE: FXI), which was listed by Barclays Global Investors in October 2004, is the most widely traded of all the China-related securities listed in the United States.
The ETF gained 83% in 2006 alone, but the bull run came to a sudden end in late 2007, and the ETF suffered a massive correction.
The FXI saw its shares dive by 50% in the months following the Olympics.
Ouch!
Bryan Perry is a contributor to OptionsZone.com.
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