I'm reading the business headlines , car sales +34%, consumer sentiment at 2001 levels, construction strong expansion and then I see KGP -10%, CRH -10%, RYAN -5%, BKIR -10% ???????
As for SKG, it will make no difference but the results will be as expected, good. Its the guidance that will matter. Guaranteed dividend there so no need to worry with them. The south american thing is only a small overall % so very little damage that hasn't been priced in.
if i manage to buy at that price ( i could drop to 19 cents in my opinion ) , il be a seller around 30 cents , its a bear market , the signs were there , the price action in european banks this past month is truly terrifying and american banks are not much better , very few major banks trading above book value right now
i expect smurfit kappa to sell off hard tomorrow as earnings are out before open , its movements have been incredibly bearish this past month , i thought i had value at 19.99 , il know tomorrow whether it was
If anyone is asked to explain deflation, here it is in action in real time. No one wants to buy anything because it might be cheaper tomorrow. As Mario is finding out to his (our) cost, once that mind set settles in, it's bloody hard to change.
Bob might well fill that order and maybe even a lower one. I'm saying that as someone who thought the 20's were a thing of the past but as someone said "you can't fight fate"
The cash is heading to German bonds or ECB safes even at negative rate and driving up the euro up which is not what Mario wanted. There may have to be a serious further cut to rates in order to push out the cash. Despite all its problems the Euro has become a safe haven for some reason. Something to do with QE I assume or is it just that there is no safer place at the moment. You would have thought that with the Fed upping rates there, money would flood in because with a devaluation likely in China again choices are limited. There must be serious mistrust of the US. The hole oil is going to leave in the banking system there has to be major issue. The fear of contagion throughout the worlds banks is the probable reason for Bkirs fall. The economics of this would be a lot more interesting if it wasn't costing so much. Lucky herself doesn't ask how the portfolio is doing too often.
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