Hongkong's funny:)  

Posted by Book Eater

elo... couldn't help but post some things interesting that I found in Forbes Asia. Do check the jan 28,2008 issue. It's really a nice read. Below's a summary of what I found great to share. Do read the last part, especially Mr David Li's song on the Hangseng index, written in his diary when he was still a cambridge student.
The Nikkei stock index is at a 26 month low and the yen has been relegated to a role as cheap, borrowed currency for making risky bets elsewhere around the globe. - Tim Ferguson, Forbes Asia
Hmmm, okay. japan's not so interesting. u can see the charts urself. I just wanted to stress the way Ferguson wrote the news. Relegated to a role as CHEAP BORROWED CURRENCY for making RISKY BETS elsewhere. ayun lang. So there's ur carry trade:)
The dumbest, most destructive economic policy of the Bush Administration has been its weak dollar position. Put aside the meaninglessness of the trade balance as a measure of economic health or sickness - the US afterall, has had a trade deficit with the rest of the world for 350 years out of the last 400. A weak currency policy has disastrous economic and political coequences - most immediately our tumultuos equity markets.- Steve Forbes, Forbes AsiaAlign Right
Well, everyone's betting the further weakening of the dollar which is why gold and oil are making their new highs. Let the bush administration finish....and then all bets on dollar weakening stops.
Markets and Other Interesting News Clips:
1.) Terrorist Iran gets massive windfalls for its oil. - ok, then more war?
2.) Same goes for Venezuela, with it lunatic head Hugo Chavez. - uhm.. why do lunatics get the money?
3.) Russia's becoming more anti-american with each uptick in the price of oil. - same oil issue
4.) Sovereign Wealth Funds are buying US corporate assets at fire-sale prices. -I can recall someone telling me that you wont find Citigroup Merrill Lynch and all these big US banks at the hands of the Americans. The new rich are the Chindians and the Middle East! More Power to the $1 trillion China Reserve and th $350 Bil Singapore Reserve...and the oil wealth of the Middle East.
5.) China faces destabilizing inflation when it tied yuan to the greenback. - I'm not sure about this. I'm not sure if its really destabilizing. Better check this out with other articles.
6.) Oil lacking developing countries are being hit with destabilizing economic squeezes.
- So it goes, good thing the dollar's weakening so the impact's subdued. As if.
7.) Foreign inflows to Pakistan's stock market dropped 88% from July through November. But Chinese and Middle Eastern companies may invest. They have already bought most of Paistan' telecom assets. Mobile subscribers jumped 79% in the year ending last June while US firms took a pass.
- Grabe, imagine if in the Philippines foreign inflows drop 88%? makakakaya mo ba un? Hmm.. I'm curious... I want to check the largest drop of foreign inflows in Pinas. perhaps nung 2001. Pero tingnan..si telco..akyat o.
8.) Mark Cuban and Todd Wagner have computed that it would cost $200,000 less to shoot in Oregon than in Canada because the loonie is now stronger than th greenback for the first time in 30 years last September. The weak dollar has taken Canada out of the mix for the most part. Kirk Shaw, chief executive of Vancouver's Insight Films, country's largest studio is willing to lock in 88 cents to the Canadian dollar rate, a loss of 12 cents for every dollar spent at the time.... to attract Hollywood to still continue their motion pictures filming in Canada.
- Wow. pati hollywood nagcompute.hehe. sila rin naapektuhan ng weakening dollar. iba tlga.
9.) Figures dont lie but liars can figure.
- cool kasi, nextime sabihin mo para astig dating mo. o diba? hehe.
10.) Despite the Sarge and other recalls, toy business is still booming for China's maker of playthings. China has $7.8 Bil exports of toys and sporting goods in first 11 months of 2007. only 25.6 Mil are toys recalled in the US. only 3.8 Mil toys recalled because of lead paint. It's still business as usual and still 20% increase in exports versus 2006.
11.) Choi frets whether buying another Philippe Patek watch for his collection of 200 time pieces. He has 45 racing cars, including a Ferrari Spider, a Lamborghini Murcielago and a Rolls-Royce Phantom. He lives in a hilltop mansion in the New Territories close to the Chinese border.
- Grabe. yaman. hehe. so.. walang kwenta lahat ng lead paint recalls. liit lang pala nun.
12.) David Li, chairman of Bank of East Asia is the author of the "church hymn" below.
Guide me o thou Hang Seng Index,
Put more dollars in my hand,
Script and bonds and soya futures
And some shares in Hongkong land.
Krugerrands and fixed deposits are the symbol of the success.
Let my checkbook buy my happiness.
When my time on earth is over
Let my soul depart on high
Let me dwell forever in the stock exchange up in the sky
Where the index never falters and returns are never low
Let me take it with me when I go
- reminds me of someone who says kung lahat ng tao alam lang ang "the secret". haha.
References: Forbes Asia; Jan 28,2008
a.) Steve Forbes;"Bush's Big Boo Boo";
b.) Deborah Orr; " Caught in the Crossfire"
c.) Shu-Ching Jean Chen ; " Choi's Toys"
d.) Russell Flannery;"An Atypical Banker"
- hope you guys had a good laugh:)
- Nix

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