Poor little Iceland. The country is probably best described as a hedge fund with a vote in the UN. The stock exchange there was shut down for three days and it just reopened. Down 77% .
Kaupthing Bank hf, Glitnir Bank hf and Landsbanki Islands hf collapsed this month with debts equivalent to as much as 12 times the size of Iceland’s economy. The three banks accounted for about 76 percent of the ICEX 15 Index’s value prior to the nationalization.
The OMX Iceland 15 Index fell 2,317.23, or 77 percent, to 687.39 as of 11:48 a.m. local time. Five of the 13 other stocks in the index didn’t trade, while the five that did account for about 7.1 percent of the index’s value.
Trading was halted since Oct. 9 after the measure lost 30 percent in nine days as the country’s financial system collapsed. Iceland’s delegation started talks in Moscow today to secure an emergency loan of as much as 4 billion euros ($5.47 billion) from Russia.
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The Buy List Since 2006From: crossingwallstreet.com
Post Date: 2008-05-22 22:18:28
I don’t think I’ve done this yet, but here’s how the Buy List has performed since I started it in 2006. I had a small Buy List in 2005, but I didn’t formalize the system until the beginning of the 2006.
The red line is the Buy List and the black line is the S&P 500. The graph is done as if it was a portfolio starting with $1 million on December 31, 2005 (dividends aren’t included). All told, we’re trailing the S&P 500, 11.70% to 9.27%. The ...
more Pfizer Hits 10-Year LowFrom: crossingwallstreet.com
Post Date: 2008-05-22 14:24:28
Shares of Pfizer ( PFE ) closed today at their lowest level since September 1997. The dividends would have given you about a 26% return. For years this was a stock that could do no wrong.
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