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Bank of Marin Bancorp Message Board

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  • pvbud pvbud Jul 9, 2006 10:06 AM Flag

    for pvbud

    Hello Niccho,

    The Mexican election is confusing for all of us. If concluded peacefully, it will be only the third peaceful election since the PRI lost power after about 65 years of one party control. As you read, the jury is still out but it appears that Harvard educated Calderon (PAN) the more conservative party has it.

    As for Mexican stocks, I do not participate except through a fund in a modest way, more for peso convenience than as an investment. I have seen at least three significant peso devaluations during the past 50 years. Investors have been financially hurt, some bankrupt as a result. It's difficult enough for me to understand something of the US markets and tax applications than to deal with monetary exchange rates as well. Like the Buffett of old, if I wanted foreign equity market investment, I'd buy Coca Cola.

    Opposite of our Michigan friends, my fishing has sufffered because I'm working too much. However, this week I've been out on the Alaska waters rounding up a few halibut. Next come salmon. Got to get the smoker going. Good wishes. Nice to hear from you.

    PVBud

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    • I've been a silent student of all of this board, we are heading for Port Hardy then float plane 1/1/2 hrs up into the Islands inlet area for 5 days of king and Coho , and crabing, eagles and bears enjoy, hope the salmon come in for you a little lean so far in Port hardy area this year, hve a big one and enjoy.

    • Thanks, pv. I have always appreciated your insights--as I do others on this board. I hold cx and it has done well, but I may shed it if a period of uncertainty becomes lengthy. I am still looking at SOR you mentioned once. It has been buyable lately I think around 70, but I have been hesitant to pull trigger in this mkt, even though it looks countercyclical. Any comments? Thanks

      • 1 Reply to nicho91
      • I would not pay $70 for it , Nicho. However, that's only my view. SOR has been a wonderful income and growth "stock" for us, however most of our purchases were made in the $40's. The current management and investment officers have preformed exceedingly well during the dot com days and the rest of it. So, I do have confidence in them. Without getting into the statistics, if SOR takes a 15 -20 percent drop with the same management in place I would, again,look at it very seriously.

        In Mexico, the election causes almost every government activity to slow, because no employee unerstands if he/she will have a job; most will not. New political appontments will be applied top to bottom. Current employees use this opportunity to gather a little propina to make things happen. For example, in some jurisdictions in the State of Jaliso simple property transfers do not happen in six months. In California it takes one day. Guess how you can get your deed recorded in a few days in Jalisco? Good wishes to you.

 
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