Forum Archive Index - September 2001

["Colin Ross" <ceejaynz@xtra.co.nz>]

Thanks Gerry,

Regarding your earlier post about Geo W Bush.

I have  loved Senator John McCain's comment, about his fellow texan

"All hat and no Cattle"

 

I think the world can be grateful that there are some very clear heads in the background, and a truly inspired speechwriter.

The scripted comments are masterly, the off-the-cuff ones - pretty crass.

 

Ceejay

----- Original Message -----

From: G Stolwyk

To: sharechat.co.nz

Sent: Monday, September 24, 2001 9:02 AM

Subject: Re: Re: [sharechat] US Stock Exchange opening on Monday.

Colin Ross,

 

Your observation made on Sept. 15 that insurers are forced to quikly sell shares to pay for the damage caused by the attack on the WTC was a good one:

 

http://news.bbc.co.uk/hi/english/business/newsid_1559000/1559728.stm

 

Interesting to note that the FSA had certain rules on the disposal of shares by insurers!

 

It appears that this has compounded the fall-out from the Afghanistan problem, the readjustment needed to curb high share prices in the US and UK, institutions being forced to raise cash to pay exiting unit trust holders and the impression that a recession is on the way; an unusual reinforcing array of negative motivators.

 

This is unfortunate for share holders but before long would present a splendid buying opportunity, particularly, once interest rates come down further.   

 

QBE would have sold all shares some time ago as there was a stop-loss or 'collar' activated.

 

They reported that these stocks would be sold at a profit; actually, they were well cashed up and their investment in shares was a minor one! 

 

Gerry