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Black Wednesday 9Th Of May


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The Facebook IPO should put a gentle zephyr under markets til the end of May.

Plenty of commission for the pigfirms selling that dreck, and lots of time to get short for the inevitable rug-pull in June - when we all discover it's worth less than $10bn after all. B)

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They occur more frequently than they should, were stock markets informationally efficient, random walks with no memories - as the Efficient Market Hypothesis contends.

The thing is, the Efficient Market Hypothesis is also used to justify extreme salaries and bonuses, through the argument that all profits and trading gains are the result of skill. Hence it's popularity in some circles

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I'm not sure exactly what his reasoning was.. but wouldn't that just mean they are over valued now? I would have thought if anything (with all of the euro gloom) that European stocks would be over sold?

I guess I'm just saying I don't see why the value of the stock should be affected by the currency it is priced in (it's not obvious to me).

I could see a Euro break up causing a shock to the system and ALL of the markets dropping on the uncertainty. But then I could also see them rallying again afterwards on the "relief" that it was all over. Hard one to figure out.

Didn't he mean for holder of other currencies? He suggested Dollar/Euro parity. So if Euro drops 25% against your currency you can buy more units when you swap to buy? Plus in a time of uncertainty the share price might go down as well.

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I bought both of those today, lets see how much i can lose on thurs.

Oh god - you are not using the "they've dropped so much they can't go down further" logic that seems so prevalent amongst the have a go punter types?

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Ive learnt a lot since finding this site in 2004, in fact this place has made me a lot of money, gold in the quango days to stocks in 2008.

I am not saying this is the bottom for bank shares, i just feel i have to post my thoughts to the board, the future will tell if im right or wrong.

Maybe some on here can learn from my mistakes, like i did in the early days.

Anybody can talk a good book, props to you for posting your trades.

Ditto gold here too. This site certainly helped make my mind up, in fact I'm looking to buy more gold (and silver) this year. Mind you, I also know someone (at RBS!) who lost £4K speculating on Northern Rock in its death throes.

I always look at the US first when trying to anticipate market moves. FWIW I fancy we'll see de-leveraging resume with the Facebook IPO, until Benny, Mervo and Mario light up the afterburners again towards the end of the year.

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Anybody can talk a good book, props to you for posting your trades.

Ditto gold here too. This site certainly helped make my mind up, in fact I'm looking to buy more gold (and silver) this year. Mind you, I also know someone (at RBS!) who lost £4K speculating on Northern Rock in its death throes.

I always look at the US first when trying to anticipate market moves. FWIW I fancy we'll see de-leveraging resume with the Facebook IPO, until Benny, Mervo and Mario light up the afterburners again towards the end of the year.

Yes - Northern Rock is the proof that sometimes bank shares just go down and down and down and down and...

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Oh god - you are not using the "they've dropped so much they can't go down further" logic that seems so prevalent amongst the have a go punter types?

Yes - Northern Rock is the proof that sometimes bank shares just go down and down and down and down and...

I'm tempted to start dripping in a bit more (on the basis that the central banks will intervene again if things get really bad). I can see you don't advocate buying individual shares just because they are cheap (probably wise), though provided you spread your risk I'm not sure the same necessarily applies to entire markets. When markets are cheap I'd say that is perhaps a good time to invest. The question is, are they...

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  • 6 years later...

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