Archive for March, 2008

Loosen up or we die

I strongly believe that one way of understanding people is knowing their importance in this world.

In doing so, we may live in peace and harmony [at least] for an hour, just a day or a year.

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About stock market and bread

Yesterday was one of those boring days. The U.S. market was down more than 200 points early on the trading day. (Please do not ask me what was the reason. There were so many things to explain in this big U.S. stock market.)

Okay, okay… Negative comments from Fed Chairman Bernanke, Fed Vice Chairman Kohn, and Fed Governor Mishkin have weighed on market participants’ sentiment at the beginning of the trading. News that Intel lowered its 1Q gross profit margin due to sharper-than-expected decline in NAND memory chips. Also, Citigroup fell down to a nine-year low after Merrill Lynch cut its full-year earnings forecast for the company. Merrill said the bank could take another $18 billion in write downs related to bad mortgage. The negative comments of the CEO of Dubai International Capital that Citigroup may need more funding to alleviate Citi’s financial woes compounded the worries (are we or are we not in recession?) of the investors.

To summarize, the confluence of negative news (disappointing earnings forecasts) and the pessimistic comments (from the central bank officials ) brought the market down.

Okay. Let me go to the bread.

Continue reading ‘About stock market and bread’