crapax Posted May 17, 2004 Report Share Posted May 17, 2004 Holy sheeeeitt..India down 15% after repoen Yeah what did they expect? An orderly decline? Or better yet, a euphoric buying spree? Link to comment Share on other sites More sharing options...
Ags Nightmare Posted May 17, 2004 Report Share Posted May 17, 2004 Wtf happned in India or should I say what's the catalyst ? Ag Link to comment Share on other sites More sharing options...
Ags Nightmare Posted May 17, 2004 Report Share Posted May 17, 2004 Wndy....I just wrote a long rant on Stinky that I saved on word for a future date....I am sure it will be usefull in the near term after his chest beating this weekend but I gotta hold off... I know Barrons hammered FNM this weekend and typically stocks lke that get jammed post bo bo doll, but I may take the plunge tomorrow even on weakness... Somethings unwinding here..Mr and mrs seen deep sea fishing in the cayman's sunday... Ag Link to comment Share on other sites More sharing options...
crapax Posted May 17, 2004 Report Share Posted May 17, 2004 Wtf happned in India or should I say what's the catalyst ? Ag Ok here goes.... The incumbent govt. got thrown out over the economic reform in the country benefitting the urban few. The rural population (800 milliom i.e. 80% of the country's population) got nary a thing from the whole deal. So they threw the bastards out. The new elected govt (not yet formed) is courting a Leftist party. And they have proposed to stop the privatization of the public sector. That threw the wrench in the Mr.Marke's works. So down they went..... down 787 points (15%+) and counting. Halted for the second time within an hour. Link to comment Share on other sites More sharing options...
Ags Nightmare Posted May 17, 2004 Report Share Posted May 17, 2004 Meta, Drudge headlines is about the India crash.....the article blamed it on rising oil pirces and the threat of rising interest rates,,,, The Ostriche's must have come up for air....the political angle makes far more sense....I just hope we don't go over there and try to liberate them as well.... Ag Link to comment Share on other sites More sharing options...
Ags Nightmare Posted May 17, 2004 Report Share Posted May 17, 2004 Sorry, Crapax.....Meta's thingy looks the same.... Ag Link to comment Share on other sites More sharing options...
crapax Posted May 17, 2004 Report Share Posted May 17, 2004 Calling for more sheep in India..... ?The buying opportunity has begun?? Mr. Dayal : We have already witnessed across the board selling. You look at the FII flows. About US$ 7 bn came into India in calendar year 2003. In this year - from January to April - the cumulative number was around US$ 3.9 bn, which is an absolute record ? it is like US$ 1 bn every month. But if you look at the month of May till date, there is already an estimated US$ 400 m ? US$ 500 m outflow. So you see, the only people buying shares over the past one year and few months were foreigners. And because they were buying, the punters were buying ahead of them, and the markets were up. And now that the FIIs are selling, the punters will sell ahead of them and there is no one to buy. The UTI is a buyer of last resort. The government may use the Life Insurance Corporation of India (LIC) to step in as a buyer of last resort. But there are certain restrictions that the LIC will have because it is governed by a regulatory body that will look at its investment profile. So, the markets will fall to whatever levels, till the foreigners clear out. Keep in mind, that the story in 2003 was a weaker dollar, lower interest rates. Borrow in US dollars and invest anywhere in the world and make money! There is a reversal in that now. Interest rates are expected to rise, and have already started firming up quite rapidly, and because of that the cost of carry, i.e. the finance charge for a speculative investor, has gone up. The risk that the dollar is going to rise makes it more risky for him to invest in a non-dollar economy. So, money is going to be sucked back into the US. And as money gets sucked back into cash assets in US dollars, there will have to be an all around selling in the emerging markets that have done better than the global equity as a whole in all of 2003. You do have this issue of getting back to the home country, which is the US. So, a decent part of a decline in markets can also be attributed to the fact that global money is going back, which will get accelerated by the fact that the foreign buyer was the sole buyer in India in all these months. http://www.equitymaster.com/detail.asp?date=5/15/04&story=6 Link to comment Share on other sites More sharing options...
Soros Posted May 17, 2004 Report Share Posted May 17, 2004 And they have proposed to stop the privatization of the public sector. http://jimrogers.com/content/stories/articles/india.html "So far, only one company has been privatized---a bakery." Link to comment Share on other sites More sharing options...
Jimbo Posted May 17, 2004 Report Share Posted May 17, 2004 GLOBAL LIQUIDIY D|RYIN|G |U|P Russia, India, Argentina. |The global fingers of CAP|ITALISM are getting a very bad case of frostnite. The warm blood of capitalism is being withdrawn to matrix central. The centre must hold. Shame about all those fingers and toes which have to be amputated. Link to comment Share on other sites More sharing options...
Guest Posted May 17, 2004 Report Share Posted May 17, 2004 careful here....the Indian market doesn't count for much and it's true some of that money will come into U.S. stocks, and to a lesser degree, the FTSE plus Japan closed stronger than I expected France of course is buckling badly, DAX also but FTSE holding up fairly well by comparison the intervention in the U.S. will be violent, so safer to gradually add to shorts on that rally when it comes, don't wanna chase it down here only to get gap-raped by the Fed and funds and Merrill Link to comment Share on other sites More sharing options...
Jimbo Posted May 17, 2004 Report Share Posted May 17, 2004 FANNIE MAE IS BANKRUPT The AOCI strategy lets Fannie Mae "burn off" losses over time. Without that, says Barron's, Fannie's 2002 earnings of $6.4 billion would have been overwhelmed by $8.9 billion in cash-flow hedging losses. Barron's says $3 billion in losses that were recognized in 2002-2003 "pale against" $19 billion paid to settle underwater interest-rate swaps in those years. Indeed, a Barron's comparison of 10-K filings says the company's interest rate swaps on its books rose from $23 billion in 2002 to $149 billion in 2003. The aim of the rising use of derivatives, says Barron's, was to defer losses instead of recognizing them. Fannie Mae is obviously hiding vast losses in an ever spiralling derivative black box. The American homebuyer has had a free option to repay his 30 year loans at lower and lower rates. However Fannie is the bag holder who pays for this option. The cost of this option has been hiden in the derivative matrix. But it cant be hidden forever Fannie probably has a vast negative cash flow but this has been hidden because its cash flow is so vast. Its so easy for Fannie due to the nature of its business to hide vast losses. Its accounts are like a deep dark forest - you can hide a very big and nasty monster in there. It never raines but it poors Of course the matrix will bullhorn the stock to zero. Link to comment Share on other sites More sharing options...
DrStool Posted May 17, 2004 Report Share Posted May 17, 2004 Here's something I'll be watching. Where's the "Agency and Treasury Securities" and "Other Securities Trading and Investment Accounts" data from? Banking data, Fed website, every thursday. Link to comment Share on other sites More sharing options...
the east is red Posted May 17, 2004 Report Share Posted May 17, 2004 Wtf happned in India or should I say what's the catalyst ? Ag The election of the populist Congress Party, headed by Sonia Ghandi, and the sound defeat of the pro-growth party that was in power. Link to comment Share on other sites More sharing options...
the east is red Posted May 17, 2004 Report Share Posted May 17, 2004 Sorry, Malaysia down 11% from the highs...... Time for that old scumbag, Mahatir, to start railing against the Jews again. I hate that guy.... Dr. Mahathir is no longer the Prime Minister. He often ended doing the right thing for completely wrong reasons. While certainly I'm no fan of his, his "farewell speech" was widely misrepresented in the West. Link to comment Share on other sites More sharing options...
the east is red Posted May 17, 2004 Report Share Posted May 17, 2004 A look into the not so distant furture. (You will have to scroll a bit to find the article.)VIA's CPUs provide extremely powerful security functions that allow the end user to quickly, safely and easily encrypt/decrypt anything: wireless data transmissions, email, voice communication, individual files or even complete file systems.? These security functions, which will be expanded significantly in the 90nm Antaur, are exposed as simple x86 instructions that often provide little, if any, hit to concurrent processing. Recently, VIA audaciously released a hardware accelerated WASTE-based peer-to-peer encrypted file sharing client that also provides encrypted chat features.? What makes this move so stunning is that the company released this Open Source program at a time when the FBI is trying to quietly push through laws requiring snooping backdoors on all chat and voice-over-IP clients!? Not only does this demonstrate the company's commitment to personal liberty and privacy, but it shows that VIA has a lot of guts as well. VIA's security strategy is not without risks, however.? By taking a direction 180 degrees opposite of Trusted Computing, the company could be left out in the cold if laws are passed mandating the use of Trusted Computing compliant computers to access the Internet.? As insane as such laws may sound, there has already been a lot of work done in this direction and, though Sen. Fritz Hollings' Bill failed to pass, more effort is slowly forming a head. Good article. Thanks. What I find interesting in this article is the rise of Asian CPU manufacturers. VIA is Taiwanese. The CPU has been the last part of the computer that was, until recently, dominated by US companies - Intel and AMD. The loss of this last market would not bode well for the US. Link to comment Share on other sites More sharing options...
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