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Archive for the ‘Irish stock market’ Category

vulchers circling Irish Banks

Irish Times reported to-day; that a Canadian bank had made a proposal to take a stake in AIB but that it wouldn’t make the move until AIB’s development loans are transferred to Ireland’s National Asset Management Agency. The paper said it is believed to be one of Canada’s five biggest banks.

The Irish Times said that the talks began two weeks ago but that any move is unlikely to develop in the near term pending the outcome of AIB’s talks with NAMA.

AIB sold a 25% stake to the Irish government earlier this year for EUR3.5 billion to help boost its finances after it was hit hard by the collapse in Ireland’s property market.

What a waste of public money looking at to-day’s closing prices!

But the fact is that there are now a lot of vulchers circling Irish Banks at these prices!

Particularly Allied Irish Bank even with the Supreme Court ruling one would have expected the shares to plummet again but no, they are up at least 20% since then I wonder why??

Maybe the market has already discounted this bad news and thus the share price is in fact a steal at these levels

This also shows that the people who are advising the current government on matters Banks and the financial well being of the Irish State should be brought out and hanged

Currently the bank is worth approx 2.7 billion with 460 million shares out and only 1.9% shares held by institutions(vulchers circling Irish Banks) the ordinary retail share holder is in the firing line and could be in for another hit before the vulchers decide to come down and feast on its carcass

Remember telecom eireann so watch out!

The government can piss off the ordinary punter but not the international institutional investors

The time to get in is when they are getting in!




You have a Neck! Mr.O Connell

Shareholders who lost their life savings in the Irish banking collapse shoulder blame for their own financial ruin, the country’s Central Bank has said.

Tom O’Connell, assistant director general of the Central Bank and Financial Services Authority of Ireland, claimed investors got what was coming to them for not keeping bank chiefs in check.

Mr O’Connell you are definitely not firing on all six cylinders whatever you are smoking is not doing you any good and if I were an international investor I would be heading for the Hills when I hear you talking like this!

This is like the Captain of the Titanic blaming the passengers for the ships sinking!

I bought allied Irish share early this year (at approx .35 cents each about 100)

I did this to be able to go to the AIB EGM and AGM

I clearly saw with my own eyes all of the ordinary shareholders present calling for the resignations of the entire board and I took some video footage as well

The entire room was full of people (Ordinary share holders calling for the ousting of the entire board of Directors including the Government nominated ones as well,

Did this happen? NO why? Because the chairman of the board had all the time proxies of all the large instatustions backing him and his board and there was nothing any of the ordinary shareholders could do about it we were told to get put up or shut up.

Your comments trying to shift the blame on to the ordinary shareholders is nothing more than an attempt to hide the incompetence of the department you are currently chairing

You know full well that ordinary shareholders have no say what so ever in decisions taken at any AGM or for that matter EGM they are only staged to give to the ordinary shareholders the illusion that they have something to say. Nothing More!

The senior figure in Ireland’s banking watchdog admitted it did not shout loud enough about reckless lending to property developers during the bubble, but insisted ordinary shareholders were also responsible.”If the banks don’t reform adequately, it’s the shareholders who should be there to discipline them,” he said. “If they don’t do that, they take a hit, and they have taken a massive hit here.”

I think it is beholding on you Mister O’Connell to resign from your overpaid job and try to live on the dole for a while that might bring you back to reality!

AIB Stock Up-Date


Chart from stock charts.com

My personal view!

I have being enjoying the rise in AIB shares of late, but as a seasoned market player I was expecting the price to come back again.

I use the American markets as they are more user friendly and I don’t want to pay so called brokers for the rotten and expensive service they provide.

I can get in and out at a stroke of a button!

The rise in the share price is nothing more than speculative, as nothing has happened to justify the rise.

The threat of nationalization is still very real!

I expect AIB to come back to at least the 3.5 $ mark (50 day moving average )

All market trading is a gamble so don’t use any funds that you are not prepared to lose

The best advice is to educate yourself first about the company you propose to invest in

Stay away from so called training courses that ask you for thousands, the likelihood is you will never make back the cost of the courses.

Good hunting!

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