Internet Coffee Shop Talk

Delete
Blogger Boon said...

I never regard Lee Shau-kee as the Warren Buffet of Asia anyway. Lee Ka-Shing is the Warren Buffett of Asia.

Most Wall Street 'strategists' and fund mangers were calling for a year end target of more than 15,000 and some 17,000 for the Dow when the index broke 14,000. These guys are now at huge losses, and the media has been trying to put a very good spin on the bad news.

We should see the weakness spreading to sectors other than the financials in the future.

Best wishes
Boon


boon, nice to hear fm you ... been reading yr great calls for the past few weeks from yr blog ... lol agreed on lee shau kee, thats why the tongue in cheek writing and commentary, at least he stepped down from the pedestal before being pushed from it I agree about the sector spread influence, but a bigger worry should be the collateral damage from even good sectors - even gold and silver may get whacked ... the yen has been on a tear n I suspect the yen carry trade have not been fully unwound yet... my short term watch include European banks implosion due to subprime and related bad debts, UBS figure was a start... it cannot just be the US banks with the bad news, their half yearly reporting (European) compared to the US' quarterly reporting will bring forth another round of bad news from European banks.. Wednesday’s announcement by UBS of a US$14 billion in write-downs was a shocker as this was additional losses ... UBS had said a month back that they anticipated about US$10 billion in write-downs from securities linked to U.S. subprime mortgages... hence the 40% higher figure is huge. .. more importantly, UBS only blamed US$12 billion of the write-downs on subprime. About US$2 billion in write-downs, UBS said Wednesday, are from “other positions related to the U.S. residential mortgage market.” What does that mean? Even the less-risky parts of the U.S. home-mortgage market are running into trouble ... that sounds like bullshit... less risky means what???... prime mortgages? ... or as I suspect... home equity lending??? Citigroup's US$4bn allocated on future detriration of consumer debt was the biggest catalyst for the credit bubble implosion trigger... UBS US$2bn figure though smaller, its huge because their commercial operations and branch operations are nowhere as wide as Citigroup. Citigroup was the catalyst, UBS was the confirmation... which bank will be the destruction...? now that the 50bp cut wanted by the market was given ... players know they cannot focus on the Fed to read the markets for at least a few more weeks... sigh ... what else can they be looking at ... a-ha inflation... Hershey bar up 13% ...

Comments

geoff said…
pls don't dis lee shau kee. his net worth is a few times more than the richest man in malaysia. moreover, he's a great philantropist.
Salvatore_Dali said…
GEOFF,

Is he yr sugar daddy? Pls come up with better reasons for me not to dis him. Anyway its not a dis, its calling a spade a spade. If you stand out and proclaim where the mkt is headed, you better come with some substance. I am not saying he is bad, where does it say he is bad...
However yr reasoning that he is a few times richer than anyone in Malaysia, so what... what the fuck has that got to do with anything... u could be the richest bloke n still conduct yrself like an idiot (not that I am calling him an idiot)...
A philanthropist ... good on him, so what... you can give bucks and still be an ahole... so where is yr arguments?? If you want to talk philantrophy, look at his net worth and then see what percentage has he given away... I think a friend of mine who has a net worth of RM200,000 but gives RM10,000 a year a better philantrophist than a lot of people... and whether u r one or not does not allow u to blab yr mouth with hollow comments (not u, mr. lee)
random said…
haha nice retort...
pureland said…
Dear S Dali

Icapital give a longer term buy rating for TIMECOM due to the tie up with DIGI recently. Reason are the confirm take up lease by DIGI which promise RM10-15m annually.

Another view is that the possible of Khazanah & Time Eng share swap with DIGI since Telenor need to pare down their holding to 49%.

Kindly give your thought.

Thank you Sir