If Chinese IPO Booms, This Is a Bubble

If U.S. investors have an appetite for this Chinese company's IPO, it could be as strong an indicator as any that the stock market is approaching a bubble.

There's something familiar about the Beijing-based online retailer LightInTheBox Holding Co., which plans to price its initial public offering this week on the New York Stock Exchange. Looking at the company's website reminds me of an old spoof in the Onion about a Chinese factory worker who can't believe the sheer amount of cheap junk Americans will buy.

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