Platforms (China Takes It Up a Notch)

We've previously championed the conspicuous rise of platforms (see book recommendation below) but didn't anticipate that you could purchase the distressed debt of Chinese steelmakers onTaobao, China's largest e-comm platform. Apparently there are now 50 websites marketing bad loans/debt in China. Choice quote: "...potential buyers...may not be as diligent in the required analysis that we deem appropriate to price a portfolio." YOU THINK? Nothing like sitting at home in your pajamas getting drunk AF and purchasing a portfolio of 118 non-performing loans from some company situated in the Yunnan province. That can only end well.