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Fear on the Street: Inside the Stock Sell-Off
Fomoney
#81 Posted : Monday, August 08, 2011 10:28:37 AM
Rank: Member


Joined: 7/9/2006
Posts: 79
The yen has been manipulated for the longest. Let the yen float and we'll see how fast china grows. If I had to choose where to live, the old US of A is better. I invest where the numbers lead me. Can make money of any mkt.
FUNKY
#82 Posted : Monday, August 08, 2011 10:39:27 AM
Rank: Veteran


Joined: 4/30/2010
Posts: 1,635
The NSE is taking a beating today. Most of the counters are in RED. HFCK 19/-,NIC 34/- CABLES 12/-,KCB 21.75/ are all strong buys at current prices.
StatMeister
#83 Posted : Monday, August 08, 2011 10:48:48 AM
Rank: Veteran


Joined: 5/23/2010
Posts: 868
Location: La Islas Galápagos
Many of the stocks in black ink so far today have traded 100-200 shares.
A bad day fishing is better than a good day at work
mkonomtupu
#84 Posted : Monday, August 08, 2011 11:05:43 AM
Rank: Veteran


Joined: 2/10/2010
Posts: 1,001
Location: River Road
I feel like the only idiot who is still buying companies at bei ya jioni, some of the prices are too good to be true
Cde Monomotapa
#85 Posted : Monday, August 08, 2011 11:26:18 AM
Rank: Chief


Joined: 1/13/2011
Posts: 5,964
mkonomtupu wrote:
I feel like the only idiot who is still buying companies at bei ya jioni, some of the prices are too good to be true

Exactly...and for economic problems we r not even a part of! Work on the div.yields.
ecstacy
#86 Posted : Monday, August 08, 2011 11:43:01 AM
Rank: Elder


Joined: 2/26/2008
Posts: 4,449
ICC hearings coming up, inflation headed 18-22% year end, drought and famine, lost productivity & increased production costs due to power rationing, weak KES, weak export markets, foreign investor avertion due to political risk as 2012 elections etc Maybe this is the end of the beginning of the sell off...liking the price trends!!!
VituVingiSana
#87 Posted : Monday, August 08, 2011 12:01:46 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,223
Location: Nairobi
If Euro crashes so will the income from exports of flowers & produce.

Not to forget losses from tourism as tourism declines due to economic hardship AND folks will want to pay same Euros to us but we get a 'weaker' Euro...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
VituVingiSana
#88 Posted : Monday, August 08, 2011 12:04:15 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,223
Location: Nairobi
Hard Winter in Harare Africa Confidential
Law & Politics

As senior allies of President Robert Gabriel Mugabe concede through
gritted teeth that there can be no national elections this year, they
have moved the battleground to economic policy. Their main target is
outspoken Finance Minister Tendai Biti, who is also Secretary General
of the Movement for Democratic Change (MDC). President Mugabe, his
allies say, clashed repeatedly with Biti at recent cabinet meetings
over the payment of higher salaries to the country’s 200,000 civil
servants.

The state payroll includes some 75,000 names which auditors Ernst and
Young found were either entirely fictitious or of people ‘not properly
qualified’. Biti’s sarcastic speeches in Parliament targeted his
opponents’ view that ‘money must be eaten’ whatever the national
consequences and referred to ‘Dotito’, a remote corner of Mashonaland
West which has become a byword for Mugabe’s patronage.Mugabe insists
that the civil service pay awards go ahead but Biti forecasts that
that will mean an unfunded deficit of some US$500 million this year on
top of the government’s planned $2.7 billion budget. For once, Mugabe
and his allies believe they have a nationally popular cause, as well
as an economically convenient one.

Biti has long insisted that all diamond revenue be lodged with the
Treasury by the Zimbabwe Mining and Development Corporation (ZMDC),
which has on paper been handling sales from Marange and other diamond
fields. Marange alone has the potential to produce about $1 bn. Until
these monies are lodged with the Treasury, Biti said he could not
consider approving the civil service pay rise.

Civil servants were then surprised to receive the promised increase in
their June pay packets. What had happened is that contrary to all
usual procedures, the ZMDC had transferred $40 mn. directly to the
Government Salaries Account, whence the pro-ZANU bureaucrats paid the
increases directly. This highly irregular operation completely
bypassed the Treasury. It shows that the higher reaches of the civil
service will still act to placate the President and damn the
consequences for an MDC minister.

In a shouting match in cabinet, Mugabe warned ‘this young man’ that he
had gone too far and ‘would be dealt with decisively’.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Sober
#89 Posted : Monday, August 08, 2011 12:30:45 PM
Rank: Elder


Joined: 11/27/2007
Posts: 3,604
FUNKY wrote:
The NSE is taking a beating today. Most of the counters are in RED. HFCK 19/-,NIC 34/- CABLES 12/-,KCB 21.75/ are all strong buys at current prices.


every time i look at NIC i feel as thought it is discounted, only for it to hit a lower figure.
African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
youcan'tstopusnow
#90 Posted : Monday, August 08, 2011 12:59:29 PM
Rank: Chief


Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
lovely2010, seems the preaching has truly began nowsmile
GOD BLESS YOUR LIFE
brian mackenzie
#91 Posted : Monday, August 08, 2011 3:56:22 PM
Rank: New-farer


Joined: 1/17/2011
Posts: 26
Location: nairobi kenya
@Fomoney,even if the Yen is been manipulated,it is a no brainer to note that all american jobs just like the trend in Kenya have shifted to China.China is growing at a very fast rate and even critics predict tht it'll be the number one economy by 2020 and judging from austerity measures in Europe and the American trend,maybe they will.On Friday America reported tht 22000 govt jobs were lost in the last one year most of them in the State of Minnesota which you may recall was closed for 2weeks because of lack of funds to pay govt employees.Nowadays China has competitive advantage on all products,go to any country and u'll find Chinese products.You can read abt this on http://diaryofarationalreader.blogspot.com
erifloss
#92 Posted : Monday, August 08, 2011 4:45:39 PM
Rank: Member


Joined: 6/21/2010
Posts: 514
Location: Nairobi
The US is trying its best to trash the S&P downgrade but it seems that the markets have a different opinion.
As for many expecting China to be the saviour come a double dip, i'm one of the people who believe that they won't coz though being the factory of the world they do depend on the disposable income of various citizens of Europe & the US & a huge consumer of African resources. So as much as China seems to be trying to play immune, they are going to be the biggest losers if the Euro & USD crash, as for the biggest beneficiaries i think Africa might come out tops.
Looking at the NSE as of now, my moolah is safer in Real Estate & the money market coz we still don't know how far down it will go with the current trend & geopolitical atmosphere.
'They say money cannot buy me happiness but when i compare when i had none and now, i'm happier' Kevin O'leary
VituVingiSana
#93 Posted : Monday, August 08, 2011 8:32:46 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,223
Location: Nairobi
If USD, Euro & GBP crash... the markets for China's goods will drop like a rock. After all most of china's exports include stuff most do not need (or can be made locally), be repaired for longer life or made to last longer by judicious use!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
VituVingiSana
#94 Posted : Monday, August 08, 2011 9:23:45 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,223
Location: Nairobi
http://www.africareview....6/-/8ydm61/-/index.html

Oh, btw... the great savior mugabe runs a torture camp where prisoners are forced to mine diamonds!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Cde Monomotapa
#95 Posted : Monday, August 08, 2011 9:46:41 PM
Rank: Chief


Joined: 1/13/2011
Posts: 5,964
VituVingiSana wrote:
http://www.africareview.com/News/Zimbabwe+torture+camp+discovered/-/979180/1215356/-/8ydm61/-/index.html

Oh, btw... the great savior mugabe runs a torture camp where prisoners are forced to mine diamonds!

Please...the mines are now KP Certified and they rake in $$ to increase civil service salos. Hahahaha.
youcan'tstopusnow
#96 Posted : Monday, August 08, 2011 10:17:52 PM
Rank: Chief


Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
Ati you can now buy the book "Dow 36,000: The New Strategy for Profiting From the Coming Rise in the Stock Market (Paperback)" for just a penny.

ColdTusker (I wonder where he went, *ahem*) reckons that it is still overpriced)

The authors must be banging their headsBrick wall

http://www.amazon.com/gp...=UTF8&condition=used
GOD BLESS YOUR LIFE
brian mackenzie
#97 Posted : Monday, August 08, 2011 10:24:23 PM
Rank: New-farer


Joined: 1/17/2011
Posts: 26
Location: nairobi kenya
@Vituvingi,i agree that China will also feel the problem bearing in mind that China,Russia and Japan have heavily invested their foreign reserves in American securities.By 2008, China had invested over $1.3 trillion dollars of its foreign reserves in US securities making it the 2nd largest investor after Japan.But u need to also note tht unlike other countries,China is a producing country,almost all the others are service producers who rely on capital or financial markets.That is the problem.In US for example,wallstreet barons enjoy all benefits and incentives such as tax benefits.Obama said tht they pay less taxes thn their secretaries.Yet manufacturers dont and hence the shift of jobs to cheaper labour in China.Thts what we should be worried abt as Kenya or as emerging markets,we need more producers and not better capital markets.If we had better producers and planning lyk Israel,we wouldnt be having food crisis in Kenya
VituVingiSana
#98 Posted : Monday, August 08, 2011 11:13:23 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,223
Location: Nairobi
@brian - Yes, China will not be affected as much but they have an underlying political problem waiting to explode. When it does either the chinese govt will use the army to kill the protestors or there will be a 'takeover' in parts of China.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
VituVingiSana
#99 Posted : Monday, August 08, 2011 11:14:41 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,223
Location: Nairobi
@brian - Yes, China will not be affected as much but they have an underlying political problem waiting to explode. When it does either the chinese govt will use the army to kill the protestors or there will be a 'takeover' in parts of China.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
hisah
#100 Posted : Monday, August 08, 2011 11:36:18 PM
Rank: Chief


Joined: 8/4/2010
Posts: 8,977
[quote=youcan'tstopusnow]Ati you can now buy the book "Dow 36,000: The New Strategy for Profiting From the Coming Rise in the Stock Market (Paperback)" for just a penny.

ColdTusker (I wonder where he went, *ahem*) reckons that it is still overpriced)

The authors must be banging their headsBrick wall

http://www.amazon.com/gp...UTF8&condition=used[/quote]

The author meant Dow priced in toilet paper. Now it's fixed smile
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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