We are catching a flight to Iceland around 2pm (90 minutes before the open) so I won't be able to check in until after the open. It looks like Asia was mixed with Australia standing out to the down side and Europe has not opened yet.
I'll have more later.
Wikinvest Wire
2 comments:
Roger,
Enjoy your trip to free market countries. I am really steamed. 6 years ago (at the height of the bubble), I invested in a (very overpriced) company in Hong Kong called PCCW. After the bubble burst, I lost 95% of my invested dollars from a precipitous fall in the share price. I hung onto the shares to serve as a reminder about what irrational exhuberance really means. Watching those shares sit in my portfolio has served as a reality check for me many times when I was about to pull the trigger on some brain storm investment idea de jour. Last month, PCCW anounced that it was in talks with 3 different buyers to sell a part of the company and I thought, At last, I might get back part of my investment. Today they announced they were breaking off talks with Macquarie and TPN/Newbridge. The announced reason was that China Network Comm. which own 19.9% of PCCW repeatedly opposed any sale to 'outside' corperations. In other words, the Communists are afraid to let companies from free market economies have ANY access to the communications infrastructure of China or Hong Kong. Intellectualy I had listened to talk about the Chinese Communist ruling class censuring Google, Yahoo et al. This is just another example of how they do it. Enjoy your freedom to travel and communicate at will. There are 1+ billion chinese who can't. Tom in Indy
And, what do the europeans think of the war in th e ME? Are our financial mkts going to react? Heck, we are seeing a bottom form , hopefully, form in all of the mkts..despite a woresning iraq and the ME. What others call a correction is not that deep, anyway. But, I fear that people say what they mean. In this case, fight to the death. Both sides say this. 30 percent equity exposure is all i'm willing to risk. Rockets will go into telaviv if there is the perception that the people of islam, not the moderate goverments, are ready to back the extremists. Roger, I can't believe that your vacation, where over the pond they hate us,has lulled you into too much detachment.
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