It may be the holiday break, but in the rest of the world, business goes on. Here is a quick snapshot of some key news and data overnight.
The NZ$ has today reached an all-time post-float high against the UK pound of NZ$1 = UKP0.4945, or almost two-for-one. It was back in September 1992 when it reached its lowest ever level of NZ$1 = UKP0.2694.
He may be banned from being a director, but the notorious Bernard Whimp is at it again with a series of low-ball offers, this time behind a LP (limited partnership) structure.
The US is tapping the tax-haven cash held by corporations. Will it become the next 'stimulus?
The mirco-lending mess in India is looking particularly ugly - and someone won a Nobel Prize for this. More good intentions with unexpected consequences.
Sweden is showing central bankers how to fight asset-price bubbles.
A surprising finding about the US long-term unemployed: the rate at which workers were fired or laid off was lower in 2010 than it was in even the mild recession of 2001.
China's clampdown on rare-earth exports has other markets and other suppliers riding an investment boom - with some not-so-good consequences.
Not a believer?
The NZ dollar has spiked again this morning to as high as US$0.7660, 'benefiting' from the continuing push higher in the on-going commodity price boom.
Here are some key benchmarks:
| --- 52 week -- | ||||||||
| Today | yesterday | high | low | |||||
| -------- | -------- | --------- | --------- | |||||
| FX rates | NZ$1=US$ | 0.7660 | 0.7547 | 0.7964 | 0.6584 | |||
| NZ$1=AU$ | 0.7530 | 0.7473 | 0.8212 | 0.7408 | ||||
| Gold | in US$ | 1,412 | 1,380 | 1,421 | 1,058 | |||
| in NZ$ | 1,844 | 1,829 | 1,877 | 1,507 | ||||
| Copper | in US$ | 9,499 | 9,391 | 9,499 | 6,091 | |||
| in NZ$ | 12,401 | 12,443 | 12,671 | 8,951 | ||||
| Crude oil | in US$/bl | 91.29 | 91.45 | 91.45 | 70.15 | |||
| in NZ$ | 119.17 | 121.15 | 121.36 | 101.30 | ||||
| US Treasuries | 30 yr bond | 4.53% | 4.49% | 4.78% | 3.61% | |||
| Dow | DJIA 30 | 11,617 | 11,587 | 11,617 | 9,614 | |||
No chart with that title exists.
11 Comments
Now that Whimp is using a Limited Partnership to make low-ball offers - because he is banned from being a director of a company - does this site intend to adopt a policy of attacking the use of Limited Partnerships and advocating for their removal?
I only ask because the attacks from this site - and Weldon for that matter - on the QC regime were on grounds that were as groundless.
And there is nothing wrong with a low ball offer: if someone accepts an offer at 40% below what they could sell their shares for on the NZX, what were they doing owning shares? Or does Mr Whimp realise that by the end of 2011 there may be no NZX to sell such shares, thus is factoring in a discount for the transaction costs of selling via ASX :) ?
And banks shares GP...you can't lose with bank shares....guaranteed fat dividends from fatter profits from bloated mortgage book 'assets' that farm the monkeys who think they own the property. What a fab system....buy the media spin to brainwash the idiots into chasing houses with 'keyboard credit' that leads to fatter profits and therefore bloated bags of govt revenue that goes to feed the benefit monster that brings in the votes so you stay in power protecting the banks that feed the bubbles that provide the credit......how can it possibly fail!
Any trader with a $ 10 000 software programme and a small book from the seminar will tell that it is easy to make your fortune in shares . Only buy those that go up . If they don't go up , don't buy them . Watch your chart patterns . Send another $ 599 for the updated chart-pattern software . Do your homework , read the pamphlet you got at the seminar ( $ 199 ) . Set your stop-loss limits . Getcha options straddle strategy in place . Check that your candlesticks ain't on fire . .............. And if you feck up , and lose your shirt , well we did tell you to get our Platinum software package for a mere $ 1299 more . Seriously , you're abnormal if you can't make munny in this trading market . Manage your emotions , its only a game , fool . And stick with us , 'cos we know that this ain't just a game . A techno-fundamental approach is the way of your future .
For those with time on their hand, link of the Wall Street Journal Year 2010 in photos, sections for economy, politics, accidents, life, odd shots, sports, geopolitics, violence, nature.
http://graphicsweb.wsj.com/YearinPhotos10/year-in-photos-2010.html
Mummy Gummy got an " offer " for her Feltcher Buiding shares from Cargill Securities LP , at $NZ 5.64 , 2 days ago . FBU traded today at $NZ 7.71 .
These low-ball offers have been around for decades . I was receiving them in Australia , back in the 1990's .
The fact that Whimp conned 2.2 million DNZ shares , showed how gullible some prats are . A free 'phone call to their stockbroker would have saved those investors from being ripped off . He's made a quick $ million out of their stupidity .
Finance companies , Nigerian bank accounts , Canadian lotteries , Whimp ............... some people are just too thick to ask the basic questions , that would save them from these sharks .
Gummy,
"some people are just too thick to ask the basic questions , that would save them from these sharks ."
My Mummy would fall directly in your "just to thick" group. Ive had to save her twice lately from nice young men at the door. HRV salesmen still at it, and craftmatic beds.
She has no access to internet & believes nice men at their word. A woman of her time.
Seems a litlle dim to not understand that.
Cmon gummy get a heart!
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