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Strategies & Market Trends : Countries

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To: Sam Citron who wrote (193)9/20/2008 12:08:21 AM
From: lukematt  Read Replies (1) of 264
 
RE: "Have you participated in any other privatizations?"

Hi, Sam:

Thanks for your reply.

In answer to your question, I have been actively involved in the privatization of the Czech Republic for the last 17+ years.

Here's my sincere hope...

Readers of my messages should not think "Oh, these messages only apply to the Czech Republic. Who cares about that little country?"

I believe that economic forces in the Czech Republic are very easy to see and to understand because the Czech Republic is small.

Readers of my messages should extract the principles from my messages and apply them to other markets.

Here's a very timely example...

Agrobanka, the Czech Republic's fifth largest bank, was placed under "forced administration" by the government in 1996 due to "unconventional transactions". GE Capital Bank arrived and made a sweetheart deal with the Czech government. Specifically, the government sold Agrobanka's healthy assets to GE Capital Bank for a ridiculously low price. Agrobanka's shareholders--normal Czech citizens who were investing in equities for the first time since the fall of Communism--got stuck with Agrobanka's toxic assets.
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