Re: PSI 20
Enviado: 15/5/2014 2:48Os AC não vão condicionar o PSI para sempre.
euro-born Escreveu:Claro que estão sujeitos a quedas tal como todos os investidores.
Estive foi a dar uma diagonal pela evolução do peso da ação BCP, BPI e BES no total de ações nacionais nos fundos nacionais.
Em outubro de 2012 €8M 2.6% total cotação fim do mês 0.07
Em Abril 2014 € 39M 11.3% total cotação fim do mês 0.219
Ontem foram negociados cerca de 85M€, 2.4% da capitalização do banco.
O meu problema é que esta situação não era esperada (pelo menos por mim).
Além disso o aumento de capital do BPI de 100M€ é marginal quando comparado com aumentos de 1500M€ (mais de 30% da capitalização do banco).
este foi o meu pior dia como investidor em BCP e PSI (alavancado)
Compreendam que custa a encaixar/perceber.
Encare isso como uma aprendizagem... eu pessoalmente nao vou muito a bola com o alavancado nao faz parte da minha estratégia de investimento...no entanto nao acho que seja necessáriamente mau... quem invista assim tem é que perceber o binomio risco retorno em que se está a enfiar... e o bull market nisso pode ser traiçoeiro dando ideia de que alavancado se pode rapidamente ganhar, o pior é que tambem se pode perder e muito quando sai tudo ao lado...... se o alavancado fosse golo certo no mundo já todos estavam ricos... e deixo aqui esta historia de um dos homens mais ricos do mundo que se suicidou por um short sellin mal feito na fusao da vw, nada contra quem vai a bolsa assim.... são estilos diferentes de propensão ao risco opostos ao meu não obstante o que quero salientar é que quem arrisca o deve fazer de modo CONSCIENTE para nao ter surpresas
German billionaire kills himself after major losses on VW
By Carter Dougherty
Published: Tuesday, January 6, 2009
FRANKFURT — Adolf Merckle, the German billionaire whose speculation in volatile Volkswagen shares had pushed his sprawling business empire to the edge of ruin, has committed suicide, his family said Tuesday.
Merckle, 74, was found dead on railroad tracks near his villa in the southern German hamlet of Blaubeuren on Monday evening. German authorities in the nearby city of Ulm confirmed the death, saying there was no sign that anyone else was involved.
The family said in a statement: "The distress to his firms caused by the financial crisis and the related uncertainties of recent weeks, along with the helplessness of no longer being able to handle the situation, broke the passionate family businessman, and he ended his life."
Police said a suicide note had been found; its contents were not divulged.
More than any other single investment, Merckle's poorly timed bet on Volkswagen shares caused the financial distress that apparently led to his death.
Merckle lost hundreds of millions of euros when he was caught last fall in a brief but ferocious speculative riptide linked to the campaign by Porsche, the sports car manufacturer, to seize control of Volkswagen. Merckle, who had bet Volkswagen shares would fall, was facing the breakup and sale of critical holdings at the time of his death.
Porsche is progressing in its campaign to take over Volkswagen. The luxury automaker announced late Monday that it had acquired slightly more than 50 percent of Volkswagen shares, up from a 42.6 percent voting stake in October. Porsche has said it planned to increase its stake to 75 percent of Volkswagen during 2009, as it seeks more operating control of the biggest European carmaker.
A native of Dresden who made his way to western Germany after World War II, Merckle parlayed a family business in chemicals into one of the biggest pharmaceutical concerns in the world. Ratiopharm, a maker of generic medicines that nonetheless became a recognized brand itself, became the pride of the family.
Other businesses included Phoenix, a pharmaceutical wholesaler, and HeidelbergCement, a building materials supplier that in 2007 acquired a British rival, Hanson, to become a leading global player.
Forbes put Merckle's fortune at $9.2 billion in 2008, making him number 94 on its list of the world's richest.
The financial crisis began taking its toll on HeidelbergCement last year as the debt incurred to buy Hanson became more burdensome.
Standard & Poor's lowered the company's credit rating as liquidity became scarce because of global market convulsions.
In November, it emerged that Merckle had lost an amount of money in the "low hundreds of millions" by wagering that shares in Volkswagen would fall, a financial transaction known as short-selling.
The bet had put him squarely up against a positively world-famous family, the Porsches. The sports car manufacturer from nearby Stuttgart was in the process of taking over Volkswagen.
On Oct. 26, Porsche announced it had secured stock and options equivalent to about 75 percent of Volkswagen shares. Short-sellers, who borrow shares and sell them, hoping to buy them back later at a lower cost, were caught in a bind, since the revelation implied a shortage of VW shares to "cover" the short-selling.
Furious demand caused VW shares to skyrocket to just over €1,000, or $1,260, from €210 in two trading sessions. That briefly gave the automaker the world's highest market capitalization.
Porsche subsequently sold a batch of shares to ease the tensions in the market, but not before the episode upset the weightings in Germany's benchmark DAX index, injuring the country's reputation as a financial center, in the estimation of many investors.
Volkswagen shares rose €25.94, or 9.9 percent, to close at €288.29 on Tuesday.
For Merckle, the damage was more concrete.
The last weeks of his life were spent wrangling with a consortium of banks for a bridge loan that would tide over his investment vehicle, VEM Vermögensverwaltung. It became increasingly clear that Merckle would have to sell part or all of Ratiopharm, widely regarded as his most attractive asset.
The episode cost speculators in New York and London dearly, leading to a fair amount of gloating in Germany, where financial trickery is looked upon with much disdain. Among the known short-sellers were two large U.S. hedge funds, Glenview Capital and Greenlight Capital.
Germans were somewhat bewildered to discover that one of their own had gone down the same road, but no more sympathy was forthcoming. The governor of Baden-Württemberg, Günther Oettinger, briefly considered guaranteeing a loan for Merckle, but quickly pulled back because of a public outcry.
Oettinger said in a statement Tuesday that he was "deeply shaken" by the news of Merckle's suicide. He lauded Merckle as a man who took his social responsibilities seriously while building up a family-owned business "of European significance."
Like many wealthy German families, the Merckles were well-known, but avoided the limelight, especially recently as the patriarch's financial distress deepened.
Based in the southern German state of Baden-Württemberg, home to many privately held companies that are heavyweights in their field, they busied themselves with the business and charitable activities. Until recently, Merckle's son, Philipp Daniel, one of his four children, ran Ratiopharm.
