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BBVA Banco Francés S.A. Message Board

  • dasamaru40 dasamaru40 May 8, 2011 1:44 PM Flag

    mp _beaudoin and drlogic_200

    Adding a few remarks to your earlier e-mails on this message board:The stocks,GGAL@ $12.40, BMA @$35.26 and BFR @$9.64 have been weak as a likely result of the 2008 nationalisation of the private pension system with the recent decision to scrap the 5% limit on voting righs which occurred when the pension fund invested money in various companies. The Argentine government is now acquiring more authority through directorships in the decision-making process. The thirty per cent interest in Banco Macro may be a big reason why the stock has tumbled to its present price from a lofty $56.99. Banco Macro was one of the first important banks that expanded and even resumed dividend payments after the economic calamity of December,2001. In fairness, ANSES, the state pension system, now nationalised , does have the right to put forward proposals to the companies that it is a stakeholder, but there is a general lack of trust in the government, as was the case in so many other Argentine governments, that investors have become greatly wary of the true motives of this government. The question of course is " Will the government kill the goose that lays the eggs ?' Argentina is not Venezuela and I do not think that it will fall into that bottomless well. These stocks are really good trading vehicles, once you expose yourself to wide swings in the levels of confidence, or should I say, "MOOD SWINGS ?'

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20.91-1.24(-5.60%)Nov 25 4:02 PMEST