These Greeks (moukas\Christos) are as shady as they come.
This is why I stopped speculating on international small caps because it is extremely difficult to evaluate and fraud is rampant.
Unless a company is well known in a foreign market I don't go near it, it is better to stick to good old USA (at-least you know CEO is going to jail if there is fraud).
Most of them just bent down took it in the rear without complaining.
By the time they filed BK job was done.
If you did a search on the old board you will so many posts by pumpers like Beta\Sirius treat Jeff as the next coming of Moses.
HE gave so many erroneous\bogus guidance it is no longer funny, $40 million free cash flow any one right before this POS came crashing down.
Ultimately blame goes to the CEO because I think he cleverly used this idiot CFO as a front to buy time.
Is there a learning moment here?
Learn to respect the market.
It is all great to have conviction but when the prices move against don't be arrogant and reevaluate your position to see whether you could be wrong.
Bashers are your friends, if you get shaken out of a good position it is bad but you will never get killed.
As I have been saying in the last few days Fed will keep stimulus going all the way until Unemployment is at 5% and inflation hits 2.5%.
My decision to invest in GFA was based on the firm belief.
So BRL will start rallying until we hit 0.5dollar to 1 brl. Bringing down inflation in Brazil.
This will be a great year for GFA if people are willing to hold.
What this guy from Swiss National Bank is arguing is financial repression is here to stay until official inflation is at 2.5%.
So this in turn could be bullish for ems and gold.
I just don't get it, if you look at metrics except China Brazil is better than all BRICS.
Brazil currency reserves - 364billion
External Debt to GDP = 20%
Current account Deficit = 100b per year
Is it just because they dont like the president?
Yes inflation is high but you expect that from all emerging countries.
India has a positive 2013 and Rupee rallied back in 2013.
But Brazil got pummeled in 2013 and the beating continues.
So basically what he is saying that treasury bonds will not appreciate as feared.
So when the markets realize Taper!=tightening we will see a weakening of the dollar.
George Dorgan of snbchf writes-
The Fed should continue to support rising inflation, suppress real rates and consequently support gold prices for many years.
P.S. Timing of the gold and silver purchases:
We judge that 2014 will be another year of U.S. unemployment reduction and once again wage increases will be limited. On the other side, current account surpluses of emerging markets should further shrink because wage and inflation expectations in these countries are still too high. Therefore we expect higher stock prices and a lower gold price also in 2014. However it makes sense to buy stocks of emerging markets (EEM).
Yes I know but none of it on margin so I dont care.
I have over a million invested so $17000 is just 1.7%.
GFA will run to $5 in 2014.
I wont be trading this guys.
This is a long term hold.
I wanted to get in below $3 and cannot ask for more.
Good Luck All!
My take is emerging market currencies are bottoming against the dollar and when markets realize that-
Taper != Tightening
we will see a huge rally both bovespa and the Real.
Brazil is the market to be in 2014.
Good Luck All