Chavez makes stocks drop

miller8966

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%

Rushlimbo

6% is nothing. Why do you care, Miller? You heavily invested in the Venezuela stockmarket? Speeches by Greenspan have done alot more influence to our stockmarket than this.

miller8966

Rushlimbo wrote:

6% is nothing. Why do you care, Miller? You heavily invested in the Venezuela stockmarket? Speeches by Greenspan have done alot more influence to our stockmarket than this.

I care because it shows how his socialized take over is hurting their market.

soulsinging

miller8966 wrote:

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.

jlew24asu

soulsinging wrote:

and stocks are a scam anyway.

lol how so?

farfromglorified

soulsinging wrote:

there's no telling how this will play out long term.

Hehe...come on man. Yeah, there's no telling how government seizure of business without compensation will "play out long term".

soulsinging

farfromglorified wrote:

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.

gue_barium

farfromglorified wrote:

Hehe...come on man. Yeah, there's no telling how government seizure of business without compensation will "play out long term".

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.

farfromglorified

gue_barium wrote:

I'm not sure what you're suggesting will play out.

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.

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.

"Inherent risk", yes. Practical reality, no.

I'm not really defending Verizon here. They were dumb enough to do this in the first place.

Rushlimbo

gue_barium wrote:

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.

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.

soulsinging

jlew24asu wrote:

lol how so?

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.

jlew24asu

soulsinging wrote:

when you buy a stock, what do you get?

a percentage of ownership of that company

soulsinging wrote:

i buy a stock i get... more money if they do well?

yes

soulsinging wrote:

less money if they do poorly?

yes

soulsinging wrote:

screwed if they're enron?

yes

soulsinging wrote:

it's an abstract and meaningless unit that was simply created to give mega-corporations capital.

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.

soulsinging wrote:

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.

i'm gonna go out on a huge limb here and say you arent a financial analyst or investment consultant

jeffbr

jlew24asu wrote:

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.

soulsinging

jlew24asu wrote:

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

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.

soulsinging

jeffbr wrote:

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.

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.

jeffbr

Rushlimbo wrote:

Business. Loss of revenue to the elite in this country.

More than just the elite own shares of Verizon. Plenty of middle class families invest in their future by investing in companies.

jeffbr

soulsinging wrote:

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.

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.

jlew24asu

soulsinging wrote:

how many people really hit the big one off the stock market?

hit it big? what does that mean? people buy stocks or seek intelligent investment professionals to invest their money wisely, usually for the longterm. are you that guy who puts all his money underneath your mattress?

soulsinging wrote:

the only way to seriously make big money is if you have a lot to invest.

100% not true. your definition of big money is not the same as everyone else.

soulsinging wrote:

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.

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?

soulsinging wrote:

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.

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.

soulsinging wrote:

what do voting rights have to do with the stock market?

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.

floyd1975

Rushlimbo wrote:

And here we have the reason why this administration is making Chavez out to be such a boogeyman.

Chavez does a damn good job of that himself. Although I would replace boogeyman with lunatic.

Rushlimbo

zstillings wrote:

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.

soulsinging

jeffbr wrote:

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.

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.