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Saturday, March 18, 2006

Stock Market Wisdom

Moved on! Check TheCairoCalls

I have been a bit quiet lately, mainly because of work reasons.
The top news around the office (and many offices across Egypt) last week, seemed to be the stock market crash. In less than half an hour last Tuesday, some stocks lost as much as 20% of its market value.
For analysts, the crash seemed to be a normal consequence of a bubble that had been growing for the last 3 months. But some 'investors' thought otherwise; some demonstrated in front of the Cairo Stock Exchange demanding their money back!!
This whole thing reminds me of an old Story of Goha.
For the uninitiated, Goha is a a historical character, whose authenticity is doubted, and that appears in the literature of various Mid-Eastern countries. He is usually the village wise fool, whose antics seems to reflect genuine wisdom. Even in the sophisticated world of financial markets it seems! Anyways, the story goes like this:
Goha goes for his neighbors asking them to lend him a pan to cook in. They do. Two days later he returns the pan, with a smaller pan inside. When asked about the smaller pan, he says that the larger pan gave birth to the smaller one, and that they should have it. His neighbors are very happy. A week later, he goes again asking for another pan. Tempted by the possibility that this pan will also give birth, his neighbors lend him their biggest pan.
A week passes without any news from Goha. His neighbors go to his home and ask him for their pan. "I'm sorry but it is dead" Goha answers. "Are you crazy??" his neighbors replies "pans don't die!!". "You believed they can give birth" Goha says "why can't you believe that they could die as well??!!"

Moved on!

5 Comments:

ma bafhamsh fil stocks, but nice analogy:D

By Blogger Seneferu, at March 18, 2006 6:10 PM  

quite a long absence for you. well its is obvious that problem is with those novice, inexperienced investors who were dreaming of fortune to fall on them from sky in a matter of weeks. Most of them put their money in the market in the very wrong time, after months of upward trend near the start of the sliding cycle.

By Anonymous XImo, at March 19, 2006 12:37 AM  

Those idiots calling for their money back are like little kids & if they feel they were duped by other powerful investors, why did they invest their money in the first place??
I really dont trust the stock market in egypt, its mentality still hasnt been fully absorbed.

By Anonymous Jokerman, at March 19, 2006 2:26 PM  

at your service....!!

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