Chavez makes stocks drop
miller8966
Posts: 1,450
In Venezuela.......
SAN FRANCISCO (MarketWatch) -- Venezuelan stocks fell nearly 6% Monday after President Hugo Chavez moved to take over the country's biggest telecommunications company without paying compensation to its largest shareholder, Verizon Communications Inc.
The General Index in Caracas was last down 5.7% to 45,003.7.
Locally traded shares of CA Nacional Telefonos de Venezuela, or CANTV (VNT : compania anonima nacionl tel spon adr d
News , chart, profile, more
Last: 11.32-2.17-16.09%
SAN FRANCISCO (MarketWatch) -- Venezuelan stocks fell nearly 6% Monday after President Hugo Chavez moved to take over the country's biggest telecommunications company without paying compensation to its largest shareholder, Verizon Communications Inc.
The General Index in Caracas was last down 5.7% to 45,003.7.
Locally traded shares of CA Nacional Telefonos de Venezuela, or CANTV (VNT : compania anonima nacionl tel spon adr d
News , chart, profile, more
Last: 11.32-2.17-16.09%
America...the greatest Country in the world.
Post edited by Unknown User on
0
Comments
Freedom is Slavery
Ignorance is Strength
I care because it shows how his socialized take over is hurting their market.
initially. 9/11 caused a huge stock market drop. it rebounded. there's no telling how this will play out long term. and stocks are a scam anyway.
Hehe...come on man. Yeah, there's no telling how government seizure of business without compensation will "play out long term".
if it is run effectively and the people of venezuela are assured of cheap and effective telecom services, id say that's worth whatever hit the multi-millionaires that own verizon stock have to take.
I'm not sure what you're suggesting will play out.
American business on foreign soil runs the inherent risk of this sort of thing happening, so, i think verizon should just suck it up and move on.
all posts by ©gue_barium are protected under US copyright law and are not to be reproduced, exchanged or sold
except by express written permission of ©gue_barium, the author.
A massive downturn in investment. The de-insentivization of entrepenuership. A near total dependence on foreign markets. The mismagement of key economic institutions. That's for starters.
"Inherent risk", yes. Practical reality, no.
I'm not really defending Verizon here. They were dumb enough to do this in the first place.
And here we have the reason why this administration is making Chavez out to be such a boogeyman. Business. Loss of revenue to the elite in this country. Chavez is no threat to this nation other than this revenue loss.
Freedom is Slavery
Ignorance is Strength
when you buy a stock, what do you get? i buy a cd, they give me a cd. i buy a shirt, i take it home and wear it. i buy internet service, i get use of the internet. i buy a stock i get... more money if they do well? less money if they do poorly? screwed if they're enron? it's an abstract and meaningless unit that was simply created to give mega-corporations capital. it's fueld entirely by speculation and conjecture, with no basis in reality. it's like betting on sporting events, only you get to collect or pay out regardless of whether or not the game is played. it's stupid, and the stock market value of venezuela's telecommunications is trivial compared to the ability to provide telecommunications to the people of venezuela. if this move does not accomplish that, the initiative will fail. you get your free market result and venezuela bears the loss, not you. if it does work, verizon gets shafted, you lose nothing, and the people of venezuela gain a lot. better to have verizon take the hit than some poor punk in venezuela.
a percentage of ownership of that company
yes yes yes
you forget to mention an investment opportunity that if done successfully can lead to an early retirement or the ability to send your kids to a great college as well as voting rights. i'm gonna go out on a huge limb here and say you arent a financial analyst or investment consultant
Ha, no doubt.
Anyone who thinks stocks are a scam doesn't understand what a "stock" is. Anyone who doesn't have the start of an equity portfolio by the time they're in their mid-20's is both missing out on putting those investments to work long term, and setting themselves up to rely on me to support them in the future.
how many people really hit the big one off the stock market? the only way to seriously make big money is if you have a lot to invest. nobody's living in the ghetto and making college tuition by playing the stock market. it's rich people getting richer, and a few middle class people getting a little more comfortable. you can't honestly tell me that the stock market benefits anyone but the people who are already welathy enough to have money lying around that is free for investment. those people aren't exactly hurting.
what do voting rights have to do with the stock market?
no, im not a financial analyst or investment consultant.
i think the 6 figure salary i will earn once i leave here is more than adequate to ensure that i will never have to rely on you. so dont worry about your precious income... i wont try to steal your pennies.
More than just the elite own shares of Verizon. Plenty of middle class families invest in their future by investing in companies.
A 6 figure salary will not be more than adequate to ensure any such thing. With a 6 figure salary you'll be part of a law firm that will have you wearing $400 shoes and $2,000 suits. You'll have a big car pmt, and be mortgaged out the ass. Your 6 figure income, when the year is done, will have carried you through that year. If you are not using some of that money to put into investment vehicles, you will be relying on me by the time you retire. Your ealier post demonstrated that you haven't a sound understanding of the stock market, or of equity investing. If you really want your 6 figure salary to give you the financial independence you think it will, you will need to invest it in your future.
100% not true. your definition of big money is not the same as everyone else.
again, you really have no clue what you are talking about. a "few" middle class people? I consider myself middle class. I make decent money for being in my mid 20s. I invest several different companies by buying their stock. when I retire in say 30 years, I will be able to sell my ownership of those companies (stock) at a much higher price and keep all the profit. how is that not beneficial to me?
its called a budget. people can choose to either spend their money, or in your case hide it under your mattress, or invest it. it doesnt matter what that dollar amount is.
when you buy stock in the company, you are now part owner of that company. % of ownership is based on the # of shares you have. smart people usually know what companies they put their money in and have a vested interest in what that company does.
Chavez does a damn good job of that himself. Although I would replace boogeyman with lunatic.
LOL. You have no idea what you are babbling on about. No idea whatsoever.
Freedom is Slavery
Ignorance is Strength
ah, thus your logic is revealed. you need to invest to maintain a flashy, high profile lifestyle with a brand new luxury sedan every year. my father is a lawyer at such a firm and doesn't own a single pair of $400 shoes or a $2000 suits. his car is nice, but not huge and their mortgage is almost paid off. yeah, if you wanna live like a king you've got to play the market. but guess what? im a big fan of this little trick called living within one's means... where i dont need to drop thousands on the hottest and most stylish clothes to satisfy my ego.
this post shows you dont have a sound understanding of how the rest of the country lives and operates... the majority that isnt living in the lap of luxury and complaining about how hard it is to be in the richest 1% of human beings in the world.
but great job projecting your lifestyle demands onto me.
also, this does not at all respond to my point about how playing stocks only benefits the already-wealthy. nobody is moving from the ghetto to the suburbs based on stock speculation. it's solely a game for the rich to get richer at the expense of the suckers who buy into bullshit like yours about how anyone can make a fortune playing the market.
you're still down to middle class. what is the stock market doing for the bottom 90% of the country besides scamming them? they take money from people who cannot afford to hire pricey counsel to invest for them and take them to the cleaners and charge them a fee to do it. they're worse than personal injury lawyers.
im aware of what a budget is. i still think the stock market is a means for the wealthy to increase their wealth at the expense of the poor.
how does investing in a company equate to any sort of voting? it's got nothing to do withpolitics, and as far as i know, buying stock does not give you a vote on any boards or anything.
perhaps. but dont tell me the stock market is a wonderful and all-important resource that everyone benefits from and should praise when we both know it's just another means to make rich people even richer. it does nothing to secure the financial well-being of the vast majority of US citizens, and in many cases seriously undermines their well-being. chavez nationalizing this telecom giant is not some huge blow to all people everywhere, it's a sucker punch to a bunch of rich folks whose portfolios are going to take a hit from it. and im sorry, but i have trouble feeling sympathy for them.
O man are you clueless...your probaly going to need him because hes a FINANCIAl analyst and when your in your 40's and realize," o fuck i have no money put away for when i retire", your going to be wishing you listened to jeff.
You probably wouldn't want to expand on this little "statement" here, would you? Or, better yet, could you?
i fully intend to have plenty of money set aside for retirement AND for my children's college expenses.
You do that; ill put my money in stocks with growth and a solid yearly return
-Enoch Powell
here's hoping you dont let your greed go to your head and buy stock in a company even greedier thann you... hate to see your money go the way of all the poor saps who bought into enron. though that would be amusingly poetic justice.
who is "they"?
do you have a job? do you make a salary? if not, there are many people who do. many people work for public traded companies. and 401K. which invests in stocks among other things. even people who arent "wealthy" make from 20k-80k year who take a % from every pay check and invest directly in stocks. how are they getting scammed? most stock indexes are up between 4-10% historically every year. except 1929, 1987, etc.
because you dont understand stock ownership. http://en.wikipedia.org/wiki/Stock
A stockholder is an individual or company (including a corporation) that legally owns one or more shares of stock in a joint stock company. Companies listed at the stock market strive to enhance shareholder value.
Shareholders are granted special privileges depending on the class of stock, including the right to vote (usually one vote per share owned) on matters such as elections to the board of directors, the right to share in distributions of the company's income, the right to purchase new shares issued by the company, and the right to a company's assets during a liquidation of the company