The ISEQ Thread Part I - March 2008 - October 2008 **LOCKED**

Any sign of the Brians

There will be right fun spinning this one. Wonder who they will blame. Probably lefty bloggers, the sort who aren't relying on the controlled press.

The fall has stopped and is heading up at least for the last few minutes.

DOW Industrial down 1.4% at 10989

Quote :

European governments have been involved in four bank rescues since Sunday; the Euribor 3-month rate rose to a record on Monday reflecting elevated tensions in the inter-bank markets and Irish bank shares crashed to 20-year lows.

In Europe today, markets plunged as the UK government seized Bradford & Bingley, Britain's biggest of buy-to-let mortgages. On Sunday, the governments of Belgium, the Netherlands and Luxembourg gave a €11.2 billion lifeline to Fortis, Belgium's largest financial- services firm in return for a 49% stake. In Germany, Hypo Real Estate Holding AG, Germany's second- biggest commercial-property lender, received a €35 billion loan guarantee from the state and Iceland agreed to buy 75% of Glitnir Bank hf, the country's third-biggest lender.

In Dublin the ISEQ has crashed 12%.

AIB is down 21% and Anglo Irish Bank has tumbled 32%. IL&P has crashed 34% and BoI is down 16%.

Belgium and the Netherlands, home to Fortis are both down over 7%.

Hypo Real Estate is down 73%.

from finfacts.

The ISEQ overall briefly went through 3,300.

Anglo Irish is down close on 50% in London.

http://uk.finance.yahoo.com/q?s=ANGL.L

Perhaps we are at last going to get the shake out we needed a year ago.

IFIN (Irish financial index) down 1,112.65 points or 25.42% to rest at 3,264.84.15 (source: yahoo).

ISEQ down 481.15 points or 12.71%

I have this vision of the Irish Stock Exchange looking like the GPO after the Easter rising - smoke smouldering out of numerous gaping bomb shelled walls as they carry the dead and dying out on impromptu stretchers.

Maybe without the hordes of people claiming to have been there....

Those BOI shares are a bargain. €3.46 a pop. Get the Communion money out.

EvotingMachine0197 wrote:

Those BOI shares are a bargain. €3.46 a pop. Get the Communion money out.

Ok, you have to have a neck like a jockeys bollix now with the like of this. What if BOI will go bankrupt? The End. What if Banco Bilbao Vizcaya BBVA of the Basque Country buys it? Are your shares ok? What if the Credit Union buys it? Are your shares ok?

EVM. You are a danger to your own net worth. Please give your phone, computer and wallet to your wife for safe keeping.

EvotingMachine0197 wrote:

Those BOI shares are a bargain. €3.46 a pop. Get the Communion money out.

Because something has reduced in price does not mean it is a bargain. Banks are too risky buying them is on a par with this;

https://www.youtube.com/watch?v=-W5FRl0qhOM

After you, I will wait till it cools down.

Hey you don't get burned from the coals or the cake or the air in the oven but the cake pan. I won't be trying that anyway.

So what happens? You buy 100 shares in BOI tomorrow for 300 quid and next week it gets sucked into some Euro bank? What happens your shares?

What part of suck, do you not understand

youngdan wrote:

What part of suck, do you not understand

Well has this ever happened to shares you bought? There is a merger with another company. Your shares are wiped out or revalued?

If it is a friendly take over you get share swoops, new equity, or share purchased at an agreed price, but these are not friendly takeovers. At best the share holding is being diluted, severely diluted, I think in some the share holders are being wiped out and the bond holders may well be taking loss.

Not a good time to hold Bank shares unless they are in a favoured institution, but with the deal being ditched I wonder if being favoured really matters any more?

Well the opening of Asian and then European exchanges should be interesting what with the $700 billion package being rejected by the House of Representatives. The Dow is down by more than 600 points. This will have reverbrations for many weeks to come. I feel the Dow, Nasdaq and S&P are going to take a drubbing.

Dow is down 777 points now - approaching 10,000 ?

What do you think will happen the ISEQ tomorrow Ard-Taoiseach?

Auditor #9 wrote:

Dow is down 777 points now - approaching 10,000 ?

What do you think will happen the ISEQ tomorrow Ard-Taoiseach?

It'll probably go through 10,000 this week now that the bail-out has been vetoed and the ISEQ will fall another few percent. The ISEQ has virtually nothing going for it so it should continue its downward spiral. The FTSE should also fall a few percent tomorrow as well. I feel that we're entering another stage in this crisis.

Some musical accompaniment to the crash....



Link.

youngdan wrote:

EVM. You are a danger to your own net worth. Please give your phone, computer and wallet to your wife for safe keeping.

Oh alright then, I'll sit tight for another while.

EvotingMachine0197 wrote:

youngdan wrote:

EVM. You are a danger to your own net worth. Please give your phone, computer and wallet to your wife for safe keeping.

Oh alright then, I'll sit tight for another while.

Exactly. The only thing in which it is worth investing is something like prize bonds. The stock exchange is still a falling knife and it would be unwise to try to catch it.

There is a desperate clamour and babble on the airwaves of various banks offering us any amount of interest providing we will put some CASH in their vaults.

cactus flower wrote:

There is a desperate clamour and babble on the airwaves of various banks offering us any amount of interest providing we will put some CASH in their vaults.

BOI is now nearly one sixth of a price I saw for them last year - buy now and perhaps in a year or two your stocks have doubled or trebled in value. If it goes all the way back up then you could make 5-6 times what you'll put in now. Very tempting with a grand or two isn't it?

Auditor #9 wrote:

cactus flower wrote:

There is a desperate clamour and babble on the airwaves of various banks offering us any amount of interest providing we will put some CASH in their vaults.

BOI is now nearly one sixth of a price I saw for them last year - buy now and perhaps in a year or two your stocks have doubled or trebled in value. If it goes all the way back up then you could make 5-6 times what you'll put in now. Very tempting with a grand or two isn't it?

But leave it a while yet!!!

Squire wrote:

Auditor #9 wrote:

cactus flower wrote:

There is a desperate clamour and babble on the airwaves of various banks offering us any amount of interest providing we will put some CASH in their vaults.

BOI is now nearly one sixth of a price I saw for them last year - buy now and perhaps in a year or two your stocks have doubled or trebled in value. If it goes all the way back up then you could make 5-6 times what you'll put in now. Very tempting with a grand or two isn't it?

But leave it a while yet!!!

I was joking before when I said that I would be buying BOI shares in the €2 Shop but really how lower can it go? What happens if everyone sells their shares except about 10 people?

All shares that have been issued are owned by someone. There is not a pile of unbought and unloved shares sitting on the shelf waiting to be bought.