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Następna kostka domina po Islandii i Arabach??

10.04.06, 12:13
Na razie nic się nie dzieje, nowozelandzki NZSE40 próbuje testować szczyt
wszechczasów i zapewne do tego testu dojdzie. Ale...sami poczytajcie:
"The US had a record 7% (of GDP) trade deficit in the fourth quarter of 2005.
But New Zealand saw its deficit hit 8.9% of GDP."
"But a quintessential star performer that has benefited from strong commodity
prices in the last few years provided a warning that could be the beginning
of a global market ripple effect. After 21 consecutive quarters of gains, New
Zealand surprised economists both at home and abroad with the report that its
economy had contracted 0.1% in Q4. The Reserve Bank of New Zealand had
previously forecast a growth rate of 2.4% for the year and 0.4% for the
quarter. There was little doubt that few, including the New Zealand Reserve
Bank governor, expected such a rapid drop. And New Zealand was not the only
trouble spot."
"New Zealand has seen its currency drop more than 18% in the year ending
March 2006. This should actually be expected, as large trade deficits have in
the past eventually resulted in falling currency values. Everywhere, so far,
except in the United States, where the dollar's reserve status and a
powerhouse economy have kept the dollar higher than economic theory and
history would have predicted.
There is another similarity between the US and New Zealand. "Housing prices
jumped 75% between late 2001 and 2005. Even with 2-year fixed rates at 8.3%
and floating rates of 9.6% as of January 2006, home prices were still
appreciating at nearly 15% annually at the end of 2005."
And household debt? Household debt in NZ has risen from 100% of income in
1999 to 150% by the end of 2005, the majority of which is mortgage debt.
Rising debt. Soaring housing prices. Monster trade deficits. A rapidly
falling currency. But investors are not worried. Note that the NZ stock
market has risen nearly 10% in 2006."

Następny kandydat do przewrotki po Islandii i krajach arabskich?
Burza coraz bliżej....

Obserwuj wątek
      • harryportier Re: Rekomendacyjne kanciarstwo w USA - znowu 10.04.06, 19:47
        According to the Times, a a veteran analyst and portfolio manager named Matthew
        Murray was hired by Rodman & Renshaw "to help the firm expand its equity
        research, sales and trading operation."

        Murray recommended a stock named Halozyme last September at $1.86, with a $2.88
        price target. Murray's employer, Rodman & Renshaw, was part of a banking group
        that raised $17.5 million for the company in a public stock offering.


        Since then, the stock hit $3.00. (It opened at $3.25 today) I think you can
        guess where this is going:

        First, Mr. Murray said, he called the chief financial officer of Halozyme, to
        confirm that there were no new developments at the company. Then he asked the
        four members of Rodman's investment policy committee to meet to discuss his
        rating change.

        The next day, a Saturday, he received an e-mail message from Michael G. King
        Jr., the research director at Rodman, suggesting that he maintain his rating on
        Halozyme by raising his price target. "If you'd like some help regarding how to
        finesse the price target on HTI your conversation should be had with me," Mr.
        King wrote, referring to the company, in the e-mail message. Mr. Murray
        provided a copy of the message to The New York Times.

        In a return e-mail message, Mr. Murray said he was not interested in finessing
        the price target. He did, however, agree to meet on Monday, Feb. 27, with the
        chief financial officer from Halozyme to assess its fundamentals once more.
        Rodman was about to be host for a series of meetings for Halozyme with the
        firm's clients. While many meetings like this are related to a securities
        offering, this one was not.

        Halozyme shares hit $3 that day. Having confirmed his previous investment
        thesis in his meeting with the C.F.O., Mr. Murray submitted his downgrade
        report. Mr. King, citing what he called the "abysmal" quality of the writing in
        the report, advised the analyst that the report could not go out. Mr. Murray
        asked to convene a meeting with the investment policy committee, to no avail.
        No report has been published.

        On Feb. 28, Mr. Murray sent the first of two e-mail messages to William A.
        Iommi, Rodman's head of compliance, asking that the firm remove his name from
        coverage of Halozyme. All analysts must certify that their reports truly
        reflect their opinions, and because Mr. Murray's previously issued buy
        recommendation no longer reflected his view, he said he should not be held
        accountable for it. On Thursday, March 2, Mr. Iommi told the firm's employees
        that Mr. Murray was leaving its research department. "In his new role at
        Rodman, he will be exploring the creation of an asset management business for
        Rodman & Renshaw Holding," Mr. Iommi wrote in an e-mail message. Twelve days
        later, Mr. Murray was fired.


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