Thanks a million. I would be down 40% on the adr (v boi) only the usa currency strength has lifted me up approx 20%. I still would love to know if anyone knows why the adr would have traded plus 20% over boi? In the first place all of 13 and 14 years
Heard a guy on RTE this morning. Said they would fudge a deal this time round but ultimately greece will never be able to repay the massive debt. He predicted greece would crash out of euro next time round we end up in this cricis talks scenario Probably by year end. I'm inclined to agree with him.
... IRLBF. is trading at 0.41 u.s. cents per share.. @ 40 shares =. $16.40 for the ADR.. the exhange rate for the euro v usd is about $1.12... last year it was $1.35 or so... there is a currency loss .. but the euro could recover the next 12 to 24 months and trade higher.. the lazy portfolio strategy is just to leave the investment for a longer time span.. big investors like capital , prem watsa, fidelity, blackrock is to leave the investment alone once made.. in the long run.. BOI continues recovery , pays a dividend, the currency losses balance out.. day trading.. shorting this stock is not a good idea..
Have just read your mind on Grexit and wish that I had the patience to pen such a comprehensive and persuasive item. My own view is based on the honesty and willingness to work within a financial discipline - something that is just not in the Greek character. They are not a people who believe in doing something for their country - they are much more interested in what the country can do for them - and will they have to pay tax on it, which most of the time never happened.
Share up today in spite of selling - beautiful day - good greens and no prospect of euro implosion - what's not to like.
sure. There are 2 things going on here. If you go back to Mar last year the ADR was trading at a premium. On 20 Mar 2014 this premium was 17%. If you go back a few years further I think I remember the premium being in the order of 50% plus but that is a while ago. So why the premium? I dont know but it was there. on 28 Feb 2014 the premium was almost nothing (about 10c per ADR share which was in the $20+ range). For the last year this premium has gone negative and now is usually about -1 or 2%
So depending on the DAY you bought the ADR you could have spent anywhere between 1% and 17% more for the ADR than it was worth. Combine this with the fact that the Euro in Mar 2014 was $1.35 (the ADR is 40X Irish price X exchange rate.) and now it is $1.11 (another up to 20% loss) it is conceivable that you could be down a lot more than the 20 % you show.
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