hold, page-9

Rough couple of days for FAR SH. But in the scope/length of things, its actually that, two days. The fundamentals why this is a winner hasn’t changed. Where still up 60% pre ANN.

The factors that come to mind why the down turn the last days - insider know something we don’t or institutions exiting the market or could be both?

If insiders, maybe a JVP come of the tracks and ANN not coming pre Xmas and some have taken the cash for now, and will buy in pre ANN of JVP. President decree, insiders know something we don’t. I’ve emailed FAR today asking if the president decree is just a formality (minister, president in the same football team , consequently should be ok). Maybe they’ll reply this is a price sensitive ra ra ra can’t elaborate. I’ll be posting their answer in any case, and hope someone from their office is reading this.

Dubai, interesting as HSBC in the top five SH of FAR and there been heavily exposed to Dubai and their SP has taken a hit. But, as someone posted Abi Dabi (spelt wrong) and Saudi most likely will step in and fill the gap. Its part of their region and they can’t afford to see the construction projects come to a stop and the housing/tourist market come to a stand still.

A lot of people/institutions that have exited the global market will be down playing the market trying to buy in later and have ANOTHER run. Some have made fortunes. Remember the very smart, make fortunes on the down and up side of the markets.

Personally, I am pinching my self, as I brought in at mid sevens! Hold strong !!!