Just when I thought the stock market is recovering a bit from 2008 slump, another bear comes. Dow index was again flirting with 8000. Among the notable negative news:
1) citigroup share price shedded almost 40% over the past week. Right now at 4.50. It is starting to look a lot like wamu. While it's hard to imagine citibank goes bankrupt, wamu has taught me a lesson that there's no rock bottom in financial stock. Having said that, i am still very tempted by this price.
2) Apple CEO Steve Jobs today announced that he will be on medical leave until June. He is a pancreatic cancer survivor so people are speculating that he has a relapse. The well-being of this charismatic CEO has considerably affected the well-being of AAPL. The stock dropped below 80 dollar, lowest in 2 years, once the news of him taking medical absence released. Another classic example that we must always remind ourselve: money can't buy health!
3)The CEO of SAY (satyam computer services), an india ADR and a leading IT outsourcing company (competitor of Infosys, Wipro), Mr. Raju admitted that he has been inflating company earnings over the years. The fraud is dubbed as India's Enron, sending the share from 9 dollar to 1 dollar.
“What started as a marginal gap between actual operating profit and the one reflected in the books of accounts continued to grow over the years. It has attained unmanageable proportions as the size of company operations grew,” the CEO wrote. “It was like riding a tiger, not knowing how to get off without being eaten.” -- isn't this a direct translation of 骑虎难下? Who copy whose idiom?
Disclosure: i own a very small amount of SAY. I don't really feel the pain but come on, am I jinxed or what? Why my stock pick always has to go bankrupt?
4) Bernard Madoff, former chairman of NASDAQ stock market exchange with his Ponzi scheme. Ponzi, new term learned. Such a simple trick yet so powerful that he allegedly swindled 50 billion. That's crazy! That's like twice the market cap of citigroup as of today. Before that I was wondering to whom wall street banks lose their money to. Damn.
What a crazy beginning of 2009!
Another note, my boss recently had a business visit to Microsoft office in Mountian view. He got a goodie bag with 2 xbox360 games in it, Gears of War 2 and Fable 2. Since he doesn't have an xbox at home and i have GOW2 already, he gave me Fable 2. Free game that's worth 50 dollar:) Yeah, i am right now playing GOW2 borrowed from a friend and the game play is absolutely fun!
haha i just have to take a photo of it,
i am pretty much hooked to my DSLR now,
lets see how long my passion lasts
1) citigroup share price shedded almost 40% over the past week. Right now at 4.50. It is starting to look a lot like wamu. While it's hard to imagine citibank goes bankrupt, wamu has taught me a lesson that there's no rock bottom in financial stock. Having said that, i am still very tempted by this price.
2) Apple CEO Steve Jobs today announced that he will be on medical leave until June. He is a pancreatic cancer survivor so people are speculating that he has a relapse. The well-being of this charismatic CEO has considerably affected the well-being of AAPL. The stock dropped below 80 dollar, lowest in 2 years, once the news of him taking medical absence released. Another classic example that we must always remind ourselve: money can't buy health!
3)The CEO of SAY (satyam computer services), an india ADR and a leading IT outsourcing company (competitor of Infosys, Wipro), Mr. Raju admitted that he has been inflating company earnings over the years. The fraud is dubbed as India's Enron, sending the share from 9 dollar to 1 dollar.
“What started as a marginal gap between actual operating profit and the one reflected in the books of accounts continued to grow over the years. It has attained unmanageable proportions as the size of company operations grew,” the CEO wrote. “It was like riding a tiger, not knowing how to get off without being eaten.” -- isn't this a direct translation of 骑虎难下? Who copy whose idiom?
Disclosure: i own a very small amount of SAY. I don't really feel the pain but come on, am I jinxed or what? Why my stock pick always has to go bankrupt?
4) Bernard Madoff, former chairman of NASDAQ stock market exchange with his Ponzi scheme. Ponzi, new term learned. Such a simple trick yet so powerful that he allegedly swindled 50 billion. That's crazy! That's like twice the market cap of citigroup as of today. Before that I was wondering to whom wall street banks lose their money to. Damn.
What a crazy beginning of 2009!
Another note, my boss recently had a business visit to Microsoft office in Mountian view. He got a goodie bag with 2 xbox360 games in it, Gears of War 2 and Fable 2. Since he doesn't have an xbox at home and i have GOW2 already, he gave me Fable 2. Free game that's worth 50 dollar:) Yeah, i am right now playing GOW2 borrowed from a friend and the game play is absolutely fun!
haha i just have to take a photo of it,i am pretty much hooked to my DSLR now,
lets see how long my passion lasts
posted by ongngg at 11:01 PM
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