The two women carried on about liquidity and profit margins, and recalled with pride attending the first shareholder meeting of KenGen this year, an event so huge that it had to be held in the city’s largest soccer stadium. About 200,000 people from all corners of the country came like so many newly minted executives.
"I felt so good," Kariuki recalled. "It was just normal, common people. People dressed well. What impressed me was the number of old women — they were coming in their traditional clothes. They were telling me, ‘Yes, we bought!’ "
Here is the full story. I am not in any particular sense bearish about Kenya’s future, relative to its starting point. And I am pleased to see that the country is growing so rapidly. But I do believe the time has come to sell, or if you can (ha!), sell short.
“”I have something telling me to buy,” she said, explaining that she had come for KCB Bank shares in the morning and decided to return for more in the afternoon.”
One can be sure the rational choice model will work very well here.
matt…I wonder if they think that every american only wants to hear about the stock market, so they check it out to seem informed/somehow get tips. ??
1: read stock page
2: ????
3: profit!!!
I’m really worried that this is a bubble that could wreck my portfolio. I have 20% of it in foreign
equities, of which 15% is in emerging markets, of which 5% is in Kenya. That’s a whopping 0.15% propped
up by bubbling buying idiots!
A bursting bubble of stocks like KCB, KENGEN, Kenya Airways..last years darling, and the upcomming mother of all anticipated juicy stock’s SAFARICOM, wich is due to IPO shortly, at least leave there shareholders holding some percentage of their orginal investment, since these companies are Kenyan Blue chips and have real assets and real cash flows….even if it’s just in Shillings. The above mentioned 200,000 plus are the savy ones….BECAUSE the current hottest investment craze in Nairobi,is the favoured…DRUM ROLL!!!!! PONZI SCHEME…Aghh!! Kenya has been gripped by ponzi fever, of the Romanian vintage, complete with special “investment banks”…poor imitations of their wall street brethren (You have to start somewhere), offering 400% returns on SHHHH!!!! no questions asked investments, on three month terms. A recent op-ed piece by no less than the the governor of the Central Bank and the Minister of Finance, shouted for rationality, whereby they were promptly ordered to appear infront of the parliamentary select committee on finance to “explain” why they were undermining legitamate busnesses trying to hustle a buck. A sordid mess in deed. A family member with a master degree in finance, and a management position in a fortune 10 (Kenya version) institution recently pitched me to join the fun…..and yes they are is intelligent as evryone else..but they were fuilly convinced that some other sucker would be left holding the bag when the music stopped….Financial Education has a long way to go, but for you westerners no need not worry, these are a very sturdy group of investors, with a long history of enduring shareholder abuse and a stoich take on the long run, you’ll easily get out of the market, back in again, and out, long before small kenyan retail investors quit their KCB shares. Hey if your an Sub-prime mortgage banker it might be time to move to greener pastures….British Airways is running a NY to NBI return special for $666.
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