is now a good time to buy shares?

[orangeman]

Poor figures on the indexes as past few days - FTSE dwon to 4200 Dow at 8200 approx.


There was me thinking that things had a taken a turn for the better.

[Tyrones own]

The Japanese have a saying for it:
"Don't try to catch a falling knife"

[orangeman]

Grim US sales send markets lower
Wednesday, 14 January 2009 18:52
Official figures show that sales at US retailers fell at a steeper than expected rate in December, as a deteriorating economic environment forced consumers to cut back on spending during the Christmas holiday period.

The figures helped send world stock markets dowh sharply this afternoon. Wall Street markets were 3% lower, while the Dublin and London markets lost around 5%.

More details on how markets reacted

The Commerce Department said total retail sales fell 2.7% last month from the previous month after a revised 2.1% drop in November. November's fall was bigger than the previously reported 1.8%.

December's drop was the biggest since October last year when sales fell 3.4%. For the whole of 2008, sales eased 0.1%, the department said.

Excluding motor vehicles and parts, sales were down a record 3.1% after a revised 2.5% decline in November. Total sales, excluding cars, rose 3% in 2008. Petrol sales tumbled 15.9% after diving by a record 18.3% in November.

[muppet]

Closed at 48c.

This government should be tarred and feathered.

Why? Surely the muppets who run anglo should be falling on their swords at this stage?  The bank is now worth approx 2.5% of it's (allbeit ridiculous value) at peak - yet Drumm and Fitzy think they've done nowt wrong
If the bank was worth anything, another bank would have decided they were worth taking over, obviously yesterday's results and commentary didn't convince anyone, they'll hardly be in existence for too much longer all the same.

Why? Because the dogs on the street knew months ago that our banks were in serious trouble. Last september, when I suggested that the banking industry in this country would never be the same again, our banks were leveraged 40 times.

Now it is 100 times. The 2 Brians have watched a crisis develop into a catastrophe, and still they do nothing.

[/b]

Maybe this is a deliberate act on their part ? Maybe they want to force them into the arms of one of the bigger boys ?

What do you think they should have done or should do ?

The bigger boys are now miniature versions of themselves. If that was the plan it wasn't a very good one.

3 months of in decision have seen the value of the Irish banks wiped out.

AIB    €1,743,708,911
Anglo  €286,501,970
BOI    €883,690,491
IL&P  €420,709,174

Total Value  €3,334,610,546
Total exposure €400,000,000,000

Now leveraged 120 times.

They should have re-capitalised months ago. However there is the small matter of them having to raise the money to do so. Expect a tax hike in Jan/Feb.

BTW I reckon the UK policy of tax cuts is to protect the currency, not the economy. UK taxpayers will suffer in the long run, we will get the pain in the shorter term.

Those bankers have a lot to answer for and as Bogball says should fall on their swords.

While I'm on about uber-capitalists greedy deeds:

I can't believe the Government is considering selling Aer Lingus to O'Leary.
Cash in bank    €1.3Billion
Heathrow slots  €500 Million
42 Aircraft min   €400 Million
Debt                   €0

Total break up value €2.2 Billion

Our Government are considering selling 25% for €145 Million.

Tarred and feathered.

AIB    528,396,640
BOI 352,472,003
IL&P 359,817,056
Anglo 164,909,622 (At closing prce - Probably worthless now)

Total value <€1.4 Billion and falling.

[orangeman]

Closed at 48c.

This government should be tarred and feathered.

Why? Surely the muppets who run anglo should be falling on their swords at this stage?  The bank is now worth approx 2.5% of it's (allbeit ridiculous value) at peak - yet Drumm and Fitzy think they've done nowt wrong
If the bank was worth anything, another bank would have decided they were worth taking over, obviously yesterday's results and commentary didn't convince anyone, they'll hardly be in existence for too much longer all the same.

Why? Because the dogs on the street knew months ago that our banks were in serious trouble. Last september, when I suggested that the banking industry in this country would never be the same again, our banks were leveraged 40 times.

Now it is 100 times. The 2 Brians have watched a crisis develop into a catastrophe, and still they do nothing.

[/b]

Maybe this is a deliberate act on their part ? Maybe they want to force them into the arms of one of the bigger boys ?

What do you think they should have done or should do ?

The bigger boys are now miniature versions of themselves. If that was the plan it wasn't a very good one.

3 months of in decision have seen the value of the Irish banks wiped out.

AIB    €1,743,708,911
Anglo  €286,501,970
BOI    €883,690,491
IL&P  €420,709,174

Total Value  €3,334,610,546
Total exposure €400,000,000,000

Now leveraged 120 times.

They should have re-capitalised months ago. However there is the small matter of them having to raise the money to do so. Expect a tax hike in Jan/Feb.

BTW I reckon the UK policy of tax cuts is to protect the currency, not the economy. UK taxpayers will suffer in the long run, we will get the pain in the shorter term.

Those bankers have a lot to answer for and as Bogball says should fall on their swords.

While I'm on about uber-capitalists greedy deeds:

I can't believe the Government is considering selling Aer Lingus to O'Leary.
Cash in bank    €1.3Billion
Heathrow slots  €500 Million
42 Aircraft min   €400 Million
Debt                   €0

Total break up value €2.2 Billion

Our Government are considering selling 25% for €145 Million.

Tarred and feathered.

AIB    528,396,640
BOI 352,472,003
IL&P 359,817,056
Anglo 164,909,622 (At closing prce - Probably worthless now)

Total value <€1.4 Billion and falling.

The drop in value is simply mind blowing !

[Shortso79]

Is now a good time to buy AIB shares ? 60 cent unbelieveable

[muppet]

Is now a good time to buy AIB shares ? 60 cent unbelieveable

It is possible the banks are now worthless. I was thinking of buying BOI when they went below €1 and AIB as late as last Friday. Boy am I glad. I think I will wait until I know the Irish banking sector is worth something. As I said they might not last the week.

[Shortso79]

its crazy - i'd say alot of bank employees invested in their shares and are sweating like mad now

[Aaron Boone]

RBS got the biggest subprime mountain when they bought ABN AMRO two years ago, although noone knew at the time.
Barclays were sniffing after the Dutch bank then too.

[thebigfella]

RBS got the biggest subprime mountain when they bought ABN AMRO two years ago, although noone knew at the time.
Barclays were sniffing after the Dutch bank then too.

No one knows still .... The business still hasn't been legally been broken up yet. From what I can remember Barclays subprime debt is more than ABN and RBS put together.

 

[orangeman]

It looks like all the banks are heading for full / part nationalisation. So even at 12p or whatever they are, they're probably worth nothing.

[orangeman]

DOW suffered big losses on Barack's big day losing 332 points to drop below 8000 mark again.

[the Deel Rover]

Aib up 25% today now at .78 cent . Muppet what do we do

[lynchbhoy]

Aib up 25% today now at .78 cent . Muppet what do we do

go drink yer money
at least when you look back you know you squandered it a little more wisely than buying shares!

[the Deel Rover]

Aib up 25% today now at .78 cent . Muppet what do we do

go drink yer money
at least when you look back you know you squandered it a little more wisely than buying shares!

sound lynchbhoy