The following is an update from a BU correspondent with a few edits applied by the blogmaster. It is important we maintain focus on the management of the economy. It is encouraging to observe in recent days the Nation newspaper has been guided to also focus on the economy and related news as Barbadians immerse themselves in matters related to celebrating Christmas. The challenges facing the country will be waiting patiently for a return to more sober ways.
The Estimates for 2022/2023 confirm the common practice in recent decades of successive governments constrained to fund ugly deficits to support our consumption behaviour, graft, financial incompetence/mismanagement exposed in annual Auditor General Reports and Central Bank Reports. The estimates for 2022/2023 read a shortfall of $173. million dollars.
–David, Blogmaster
On the 16 December 2022 in parliament Minister in the Ministry of Finance, Ryan Straughn delivered the mid-year review of Barbados’ fiscal performance from March to September, as is required by the Financial Management Act passed in 2019. The review consists of important information on spending, interest payments on debt and current debt levels. Here is a video of what the Minister had to say at about 6 minutes in https://youtu.be/icgJs7wFN0I and the document laid in parliament with the title MINISTERIAL STATEMENT HONOURABLE RYAN STRAUGHN M.P. MINISTER IN THE MINISTRY OF FINANCE.
The good news is that Barbados’s debt to GDP ratio is on a downward trend, this is after it increased during the pandemic, The Debt to GDP ratio now stands at 126 % which is below the 178% in 2018.
See Related blog
Policy Performance and Outlook (Part 2)
This is consistent with what some had predicted with the economy producing higher growth this year which is materialising due to significantly higher tourism arrivals with growth projected to be at around 10% this year.
Of concern to many in the mid-year review is that the government will run a fiscal surplus of 2% which is larger that the original 1% target. This higher fiscal surplus is due to larger than expected corporate tax intake and transaction tax (e.g. VAT ) intake due to higher inflation and the fact that government spending this year so far is actually 9% lower than originally projected.
The current global environment remains challenging for developing countries due to rising global interest rates and a strong US dollar which put a strain on debt servicing costs and causes Foreign Direct Investment (FDI) outflows since bond investors can now get higher interest returns in developed countries with less risk. This environment can be seen in challenges faced by Sri Lanka, Ghana and Pakistan.
An overall assessment of the Mottley administration’s handling of the economy is – so far so good.The biggest area of concern however is the fall in the Government’s capital works programme. In the previous fiscal year it was felt that the administration did well to get it to about 4 percent of GDP. which was the highest since the mid 2000s, but it has fallen again in this fiscal year to only $55 million thus far. Whatever bottlenecks the administration needs to remove to get it going again it needs to do so, given that public capital investment is tied to competitiveness in many ways.
Related economic activity
In related developments, a UK media report about Scottlands’s trade mission to Barbados and the work that is being done between companies from both countries, and developments with respect to the relationship between Barbados and Rwanda and also Kenya and the number of Barbadian entrepreneurs that are now going on these missions. This is where the rubber meets the road on economic diversification, Barbadians should be glad to see that we are now finally moving beyond talk and into action. Now that trade policy seems to be improving, the next step is to deal with Education Reform at home.
Mia’s Global reach is commendable and is a strong foundation to build the legacy for a new Republic
Source: Nation
Source: Barbados Today
” Debt service for period $587M as compared to $458m approved in estimates”. Also bear in mind this was AFTER the debt restructuring had occured.
@John A
We know what the numbers show, what do we intend to do about it?
“$587M as compared to $458m”
don’t worry
BAU
Poor is poor
it’s all the same
it’s just numbers
just like 3396815 which unlocks your soul language
In his year end address, His Highness the Most Excellent President and Prime Minister Frederic Griffoot KC OR of Ruritania heaped praise on the IMF for their new fund, The Economic Entitlement Fund (TEEF).
“Finally, international bodies are appreciating those nations with Debt to GDP in excess of 150%” PM Griffoot stated. “It wasn’t easy getting here. It has been a struggle. And TEEF recognizes this”
While he congratulated Ruritanians on their continued consumptive habits, he stated “the World is finally realizing we are entitled to keep spending. We support them”
Reeling from tax hikes in the last budget, Griffoot continued his approval. “We must keep tossing debt repayment morsels to our lenders, but they know we are entitled”. Ruritania he stated “continues to punch above it’s weight.” The island Republic invisible on most world maps, is home to the Uber rich, who own most of the island’s property.
Struggling with an international perception of corruption, PM Griffoot assured Ruritanians they were no more corrupt that anywhere else. Hence they were entitled to be corrupt, merely earning what they deserved, for centuries of hardship inflicted by others.
While the dormant volcano Gekko, hasn’t erupted in over a century, Ruritanians were reminded of the dreadful damage which could occur.
The annual address ended with the reminder, “Live well, enjoy today, for tomorrow is uncertain. We have a right to exist, and exist well. We are Ruritanians.”
Expenses higher than projected, Revenue less than projected, the more things change, the more they stay the same.
Our honourable government has already initiated the most important measure for economic recovery: The lifting of almost all Corona restrictions. Now all that remains is for the masks to come off at the hospital, on the buses and in the old people’s homes to naturally reduce the numbers of the welfare state’s boarders.
The Corona crisis has impressively revealed how little we can trust the quacks in their white coats, they were even recently convicted for the death of a prominent personality. Time for our Attorney General to finally put the BAMP bureaucrats, these apologists of an insane, endless lockdown, permanently in protective custody at Harrison´s Point.
Ruritania, if it were not for the Aliases, you would be right up there with POTRYR.
@Dame
You mean PUDRYR, as in Piece Uh De Rock Yeah Right?
The thriving and mythical Republic of Ruritania, is usually from one blogger, moi.
Solvency in Capitalism
requires Movement
like a Shark
if it stops it dies
and Growth
like a Big Ganja Tree
Barbados’ Economic Debt Recovery
appears difficult
but it is moving
at a
Slow Velocity
We are putting subliminal messages in your music
What do you mean, “What are we going to do?”
“What do you mean, “What are we going to do?”
“We” means the Barbados Underground
I
Aint got no green
Can’t afford no dreams
And the only thing gettin’ cheaper
Is me it seems
Look out my window
Still the same
Same bunch of no count niggas being don’t count niggas
Nothin’ changed
What we talkin’ ’bout
We talking ’bout
Poor People (bckup vocal)
Talkin’ bout poor people
Poor People
Talkin’ bout poor people
The Kriya will clear your language. Even if you mumble words, if you practice this for a long time, you will be clearly heard by another person. It is called Gupt Gian Shakti, the secret power of the knowledge. If you perfect this, you need not speak. You can just send a mental thought, and the other person will totally know about it.
Instructions on how to practice the Aad Naad Kriya:
Posture: Sit in easy pose with a straight spine in Easy Pose. Relax the arms down with the elbows bent. The forearms are pulled up and in toward the chest until the hands are positioned in front of the chest between the solar plexus and the heart. Sit with the legs crossed or in a chair with the weight of both feet equally distributed.
Mudra: Interlock the fingers with the right index finger on top of the left index finger. The heels of the hands are joined and the thumbs are together and stretched back so that they point straight up.
Breath: Deeply inhale. Completely exhale as the mantra is chanted. Chant the entire mantra as only one breath is completely exhaled.
Eyes: Closed.
Mantra: Chant the following mantra as the breath is completely exhaled
Ra Ra Ra Ra
Ma Ma Ma Ma
Sa Sa Sa Sat
Hari Har Hari Har
Translation:
Ra – Sun Energy, Positive, Generating Force
Ma – Moon Energy, Receptive Force
Sa – Impersonal Infinity
Sat – Truth
Hari / Har – Creative Infinity
Time: Continue for 11 minutes
To End: end the kriya with a deep inhale, suspend the breath at least 15 seconds or as long as you feel comfortable. Exhale through the mouth. Repeat 3 times. When practicing this meditation at home, you can extend the time to 31 or 62 minutes, or longer. When finished sit quietly or lie down on your back. Listen to and surrender to the silence within. It may speak to you, now or later. Make yourself available with no expectations.
@ David
This is our reality in a nutshell without all the fluff and political dressing.
We were at a point 2 years ago where we were insolvent and could not service our debt, so we had a debt restructuring. This crippled the NIS and ” mash up”many other investors, while taking a large sum of money out the system by way of slashing interest rates to all involved.
This was to be our salvation and answer to the problem. Well we back where we were then with our debt back up in de air. Our problem however was never addressed.
WE CONTINUE TO SPEND MORE THAN WE EARN AND BORROW TO FINANCE THE DIFFERENCE. They are only 2 real solutions to this. 1 is spend less and 2 is earn more. Dem ain’t no golden number 3. So do we spend less and improve our collection agencies like BRA and Customs, or do we brace for restructuring 2.0 down the road?
@John A
There is a more stark picture to be painted.
This government was handed an economy operating with a junk status rating. The incumbent to remediate elected to go SD. Along came unpredictable events that are always the bane of SIDs (open small island economies). The major party in waiting has been promising and advising increases in public sector wages and related expenditure driven solutions.
In sum: we have the two major parties that alternate who have been unable to spark a new (create an enabling environment) economy to be able to satisfactorily compete. We have discussed many times our economy is public sector driven, an indictment on our mainly retail/distributive private sector. The hospitality sector although it generates the bulk of foreign exchange is parasitic.
Then we have a population addicted to conspicuous consumption. The result is that we operate with champagne taste with mauby pockets.
Last but not the last, we have a majority of the population oblivious to the current state of our predicament.
What are we to do in the continuing circumstances?
@ David
Government has to deal with their backyard first. The spending and poor collection of amounts owed to the state must be addressed urgently. Then they have to deal with the poorly functioning goverment entities, thereby addressing the large amounts of transfers and subsidies they need from central government yearly to keep their doors open.
I can not say in this parties 2 terms that I have seen any real action on dealing with any of the above to date, although a great deal of lip service has been offered on the matter that action will be taken.
@John A
All will disagree the wastage, squandering of public funds must be aggressively addressed, including unfunded pensions. This is what the blogmaster refers to as a maintenance issue. It does not address the endemic/structural problem in the economy AND underlying dysfunctional behaviour citizens are addicted.
What are we the citizens going to do? We have no choice to sit and take it?
It is nice that the Barbados Underground often mentions Serendib | island of Sri Lanka
All loans, now come with a severe weather clause, I think they must also incorporate a rapid interest rise clause.
A ‘debt trap’, is where a borrower must take on new loans simply to repay existing ones.
However, the accompanying ‘Rate trap’ is when new loan money is 3X+ more costly than existing loans. And this doesn’t include Credit Rating changes.
While 2022 saw many central bank rates rise from 4%, these rate increases will continue, albeit at a slower pace in 2023. They will top 5% for much of ’23.
Borrowers (Nations) who jumped on ‘low rate loans’, will need a concession(s). More time, rate extension, or ????, or they will face unmanageable loan service costs. And defaults will abound.
No Nation wishes to concede a standard of living decrease, whether it was funded largely by Debt or not.
“No Nation wishes to concede a standard of living decrease, whether it was funded largely by Debt or not.”
Your last observation is interesting and merits some unpacking. Who is defined as ‘Nation’? Do you mean WE the collective? The government we elected? Where is this thought process anchored? Who is responsible for disrupting this trend of thinking if we are to avoid the worse?
Today we heard Senior Minister of Projects Duguid announcing to all with ears that the sod is about to be turned for three hotels, Hyatt, Indigo, and one other.
#diversification
#neweconomy
#change
#tourism
#beatgoeson
So much for diversification of the economy to make it less dependant on tourism.
@John A
With the exception of Sam Lords the other hotel projects are private sector led?
The obvious question is to what extent our private sector to blame for an unimaginative investment environment.
Barbados Today
‘Uncertain outlook’
IDB WARNS OF RISKS AHEAD IN BARBADOS’ ECONOMIC RECOVERY EFFORTS
by Emmanuel Joseph
The Inter-American Development Bank (IDB) has classified Barbados’ ongoing economic recovery as weak and the outlook as uncertain, as it identified a potential decline in the leading industry, tourism, and the possibility of difficulties accessing new and affordable financing.
The assessment was provided in the Bank’s new report, Headwinds Facing the Post- Pandemic Recovery, released on Tuesday, which analysed ongoing external economic shocks on Caribbean economies.
“Even though authorities remain committed to fiscal prudence and to the reform agenda, public debt levels are elevated (135.4 per cent of GDP in FY 2021/2022) and high fiscal surpluses in the short and medium-term required to achieve fiscal sustainability,” stated the report which is part of the IDB’s Caribbean Economics Quarterly series.
“In addition, the ongoing economic recovery is still weak and will depend on the evolution of global tourism trends and the capacity of Barbados to regain its market share.”
According to the IDB, high inflation in source markets might restrict demand for travel and there could be a substitution toward cheaper destinations. Moreover, the recent depreciation of the pound sterling against the US dollar could discourage UK visitors, the largest share of the island’s tourism arrivals.
“Distance from source markets for tourism coupled with decreased and expensive air connectivity is taking a toll. Moreover, inflationary trends, the elevated dependency on goods from abroad and the threat of a global recession are risks that need constant monitoring,” the Bank suggested.
The report noted that although rising financing costs are not affecting Barbados as much as other countries, in the medium term, those costs could represent an obstacle if public finances are not strong.
“Therefore, it is crucial that the country achieves and maintains high fiscal surpluses to bring down debt levels, and that it positions itself on a stronger footing. The impact on the most vulnerable households should not be minimised, and active and well-targeted policies to provide support are welcomed,” the document states.
The IDB also warned that if the global recession and high financing costs extend over time, Barbados may be challenged in securing new affordable resources.(EJ) “Given the threat of a global recession and rising uncertainty, the appetite for sovereign debt of countries considered risky is decreasing.
Luckily, Barbados underwent a debt restructuring in 2018 that provided longer maturities, lower rates for its debt, and a commitment from domestic debt-holders to roll over short-term debt. Entering into an IMF [International Monetary Fund] programme also unlocked cheap financing from international financial institutions,” it stated, referring to the four-year IMF-funded Barbados Economic Recovery and Transformation (BERT) plan which ended in September this year and is being followed by a second programme that will be one year shorter.
“Since then, the country has not needed to tap into international private markets to secure resources. The new IMF three-year programme will result in extended access to cheap funds, but in the medium-term, debt service will increase again as support from international financial institutions will need to be repaid. If the global recession and high financing costs extend over time, Barbados could face difficulties in securing new affordable resources,” the report added.
In assessing the Government’s policy responses to controlling inflation, the IDB was not impressed with the decision to reduce Value Added Tax (VAT) on a list of critical care items such as diapers and vitamins, cap VAT on gasoline and diesel, and cut the VAT rate from 17.5 per cent to 7.5 per cent on the first 250 kilowatt/hour of electricity used by households.
“VAT-reduction policies, although wellintentioned, tend to be regressive and untargeted.
Other policies such as cash transfer programmes targeted to the most vulnerable households are more appropriate,” the report suggested.
It took note of the Government’s announcement in October that it would soon launch the 1 000 Most Vulnerable Families Programme, a comprehensive undertaking that involves monetary transfers and aims to improve overall living conditions.
emmanueljoseph@barbadostoday.bb
Sorry, that article seems to be a year old
The info Seem current
Imf endes In sept and new one started ( this year)
I mentioned Barbados’ low tax regime could be upped
Easy squeeze make no riot..
Things are the same all over!!
‘An Ocean Refuses No River’
“The obvious question is to what extent our private sector to blame for an unimaginative investment environment.”
Globalisation has squeezed businesses out of the game
Source: Nation
Yes, it is true that we are racing like a Porsche towards a concrete wall on which we will crash.
The fiscal consolidation course would only have worked under perfect conditions. But our honourable government had to fight volcanic ash, a hurricane, treacherous civil servants with DLP partisanship, OSA, Corona, the lunatic BAMP doctors, a lazy and superstitious population. That’s just too many opponents.
What is our government’s fault that tourism recovery has been delayed for a year because our superstitious natives don’t want vaccination? Nothing. What can our government do about the fact that work ethic is as far away from the indigenous masses as the moon is from the earth? Nothing. And so on and so forth.
Our honourable government is making the best of a hopeless situation. For that I thank you from the bottom of my heart!
This is part of the problem we have as well, limited investment options for individuals to grow wealth. Not everyone is comfortable with throwing money at an idea or even equity financing. This is understandable because of what many agree is a high level of financial literacy.
————
Fortress reports challenges to mutual funds
Risky government credits and limited investment options continue to be a major challenge for mutual funds in the Caribbean, says Investment Director of Fortress Fund Managers Roger Cave.
He gave this indication as he reported that after a good start to the 2022 financial year, the Barbados dollar funds managed by Fortress Fund Managers declined late in the year, although still outperforming those in other markets.
Highlights of the three Barbados dollar funds – Fortress Caribbean High Interest Fund, Fortress Caribbean Growth Fund and Fortress Caribbean Pension Fund – were shared with investors recently in the 2022 Annual Report.
Cave pointed out that the Fortress Caribbean High Interest Fund continued to face challenges finding new local investments consistent with its risk and return objectives, and undeployed cash remained a drag on performance.
Cave noted that Fortress had written consistently about fixedincome investors in the Caribbean facing two important challenges in earning healthy returns – risky government credits and limited investment options in Caribbean bond markets, and exceptionally low prevailing bond yields in the United States and other major markets.
However, Cave explained that the first challenge remained and was “possibly more acute because of stresses caused by the pandemic”.
“The second challenge, however, had seen much improvement.
With this year’s historic sell-off in global bonds, US bond yields, and, therefore, future return prospects are now the highest they’ve been in 15 years,” he said.
He reported that the Fortress Caribbean High Interest Fund had a “rare” negative return of four per cent for the year ended September 30, 2022.
Cave said the returns in the Fund occurred “in an unusually volatile and negative period for global bond markets”.
“As post-pandemic inflation remains stubbornly high, the US Federal Reserve hiked its target rate five times bringing it from zero at the start of the year to a range of three to 3.25 per cent by September 30,” Cave added.
The Fund’s net asset value of its accumulation shares decreased from $2.1220 last year to $2.0383 as of September 30, 2022. The distribution shares declined from $1.0132 to $0.9730.
Total assets remained at $143 million as positive net subscriptions from pensions and monthly savings programmes continued. The Fund’s compound annual return since inception in 2002 was four per cent, excluding fees and expenses.
In relation to the Caribbean Growth Fund, Cave reported that after an exceptionally strong year in 2021, that Fund declined 8.4 per cent for the year ended September 30, 2022.
“The financial year started very well with the Fund’s net asset value reaching an all-time high of $7.76 per share in early April. At that time the Fund was up over eight per cent for the first six months of the financial year and was posting a one-year return over 16 per cent,” he reported.
Cave noted that the second half of the year was “very difficult” for this fund as stubbornly high inflation resulted in several hikes in interest rates by the US Federal Reserve.
This combined with high energy prices, led to significant declines in financial markets across the world, impacting equities, bonds and currencies, he said.
Cave noted, however, that the Fund’s value orientation and its diversification led to its portfolio “holding in much better than what was experienced by most markets globally”.
The Caribbean Growth Fund’s net asset value declined to $6.5803 from $7.1830 and net assets were $565 million, compared to $598 million a year prior. its annual compound rate of return since inception in 1996 was $7.6 per cent.
The Caribbean Pension Fund was down in all classes of share during the review period, following what was an exceptionally strong performance in 2021.
The aggressive accumulator share declined 8.3 per cent, the Conservative Consolidator share was down 7.1 per cent while the share for the Capital Share was down 4.4 per cent.
Cave said the year was noteworthy in that global stocks and bonds registered meaningful declines over the same period, in the face of high inflation and dramatic interest rate hikes from central banks.
In his 2022 Annual Report, he also reported that although outperforming their benchmarks, Fortress Fund Managers’ US dollar funds declined in 2022 after experiencing an “exceptionally strong” 2021.
Cave said the year ended September 30, 2022 saw “sharp declines across nearly all global asset classes, impacting Fortress Fund Managers’ US dollar funds. But they still outperformed their benchmark”.
The two sub-funds of the World Funds – the Fortress World Growth Fund and the Fortress World Fixed Income Fund – declined 19.7 per cent and 12 per cent respectively for the year, “both outperforming their benchmarks but still squarely in negative territory”.
Cave noted that in relative terms, the World Growth Fund benefited from the outperformance of higher quality, better-valued shares during the year, as the speculative bubble of the last few years unwound.
“This was one encouraging feature of the year as some of the riskier areas of the equity markets dropped 50 per cent to 70 per cent or more,” said Cave.
Fortress’ consistent focus on profitable, proven companies trading at reasonable valuations was key. The company said this helped sidestep some of the worst damage during the year’s market weakness.
Cave explained: “The Fund’s allocations across global equities were all down, with the most pronounced weakness in international and emerging markets as US Federal Reserve tightening pushed major currencies down 10 per cent or more, adding to local equity market declines.”
Regarding the world Fixed Income Fund, its performance was helped by a relatively short average term on maturity and focused on high-quality credits during a period of unusually high volatility in bonds and widening credit spreads, he said.
Fortress manages over $800 million in assets across 12 funds with investments in regional, US, international and emerging markets. (PR/MM)
Source: Barbados Today
old year’s night in Barbados will be awesome for the rich and wannabes
“Things are the same all over!!”
Global recessions are made in USA, but they suffer less than other countries. In third world food prices can rise 4 times more.
The most amazing aspect of the general, global, downward trend is how Blogmaster David has allowed Kiki to mash up every single article on BU with shiite posts, shiite videos and mock contributor names.
Is it only obvious to Bushie that Kiki is a paid disruptor who’s role is to piss off serious contributions?
It was a grave error to ban ac and keep Kiki, but then again..
… there is a time for every thing
a time to live, and a time to die
a time to blog, and a time to let shiite reign…
@Bush Tea
This lowly blogmaster will always hesitate to philosophize about anything with you given your wisdom – especially about things unknown LOl. This one time let us suggest we humans love the comfort which comes from long standing arrangements. Unfortunately things never remain the same. We live and we die.
@ David
No philosophizing needed Boss.
Just ban Kiki’s donkey period! .. and let him go and monopolise the BLP blog with his shaving cream.
This is a very simple case of ‘disruption by frigging up’ that can be easily solved with a ban in his donkey, and a restriction of one damn pseudonym per IP.
You clearly don’t realize how much BU was pissing off the brass bowl authorities – PRIOR to Kiki’s DDos type of assault.
The old David would have stamped out that shiite long ago…
Tired of the lotta Kiki shiite now…
Thanks for your feedback, agree with you he has been overdoing it. Let us see what the new year brings.
As an exercise, I spent some time browsing the site of Fortress Fund. I was able (quickly) to find the fees charged by the four funds that I looked at. This is good and is one of the first things that I look for.
I will also point out that the fees though concerning were lower than some of the fees I saw elsewhere. But fees by themselves does not really tell me anything.
Things I would like to see or easily access
(1) A chart of NAV/Share over time. I wish to see more than a single date and price (Performance and Fees over time)
(2) Percentage return over life of the fund
(3) What stocks/bonds are the funds invested in (Fund composition)
(4) Some ideas of what funds are in the same class, so that I can make a comparison of the fund performance when compared to others (I need a benchmark
@ Bushman
FYI I have been placed on double secret probation on Bu where half of my spiritual messages have been blocked
You lost the plot a long time ago with your Covid conspiracies
This is not directly related to my earlier post.
There was a time when contributors on financial matters would suggest 5 stocks to buy and would start with Facebook, Amazon, Netflix, Google and say Merck. There was nothing for a reader wishing to invest and willing to accept an element of risk and to go with solid and less established stocks instead of following the crowd.
Now hardly anyone talk of the FANG stocks.
Theocracy
Fortress is a Private Equity, Hedge Fund which means it operates outside regulation and is generally used by institutional investors
Disclaimer
Past performance is not a guide to future performance and may not be repeated. The value of investments and the income from them may go down as well as up and investors may not get back the amounts originally invested.
So is Sagicor the new private buyer in the BWA Sweepstakes? The Chair and Vice Chair are from Sagicor. There to “clean it up” prior to acquisition. The GEL CFO stays, Small, and the two have always ‘good relations’.
@TheO
Plenty still mention Fang, maybe to sell vs buy. Tesla?
Go check Maxar, the little satellite op. It is better to be lucky than smart 🤓🤓
@NO
You are encouraging TheO to ‘risk’ his retirement nest egg in that Ponzi mess?
Not encouraging shite. Rather the darling Tesla is in the same declining basket. And EV are predicted to be in over supply come summer-fall with many players.
@David
No unpacking required.
What is disruption? Covid? Weather?
Disrupting the string of annual deficits barring an extraordinary event (default).
You already know the options and the consequences.
Keep on, keeping on.
Stocks are a Risk exposure and you should claw back your money asap
I use a 60% investment formula (I personally developed)
where when your stocks go up 60% you sell 60% holdings
which means you get 96% (160% x 60%) of your investment money back and sit on 40% stocks that cost 4% of original investment, (ignoring buy and sell fees)
@60%
If only I could get one to the 60% level 😂😂
“If only I could get one to the 60% level 😂😂”
perhaps you should have an awakening realisation the stock game is a scam
fund managers invest millions of other peoples money for 10% or less profits (10% of 1 million is a good turnaround)
when you realise that they also sell short stocks they don’t own you should get out the kitchen
the banking game is all about fees and treasury’s overnight deposits during settlement
@scammer
exactly why I never get to 60? Take the gains and reload.
“exactly why I never get to 60? Take the gains and reload.”
so how much will you invest in one punt
small $100s punts are eaten up with fees and commissions
@NO
Maxar is a publicly traded company on the New York Stock Exchange. Advent plans to pay out investors at $53 a share, which Advent notes is “129% over Maxar’s closing stock price of $23.10 on December 15, 2022, the last full trading day …
The price is now $51.00 .. There is some litigation as well.. some think $53.00 was not enough.
@TheO
I have owned Maxar on-off for the past 20yrs. I made good money on several of its run ups over the years. When I bailed in Feb, it was at a loss, like $5/share. Like most, it fell by +/-30% by Oct. It was on my short list to buy in the $27 range (Cdn$ it also trades on the TSX). It has always had great technology (my limited opinion) but never monetized it fully. When I asked friends in the inv buzz for their thoughts in Oct, and all said NO to Maxar, that’s all I needed to know? Hence why it was pure luck that I got back in.
I don’t have advisers I pay. Trades are $7.99 a pop. Negligible costs these days.
2022 has been tough. Been playing reporting pops. Won 7/10. The last one, I was lucky my stop just cost me $5/share. It was LuLu and it’s numbers were ok, but it dropped like $50(>15% in one day?) Would have been great playing the drop? But I didn’t. Shit happens.
More Covid
https://www.nationnews.com/2022/12/29/no-covid-deaths-increase-cases/
https://www.nationnews.com/2022/12/29/no-covid-deaths-increase-cases/
Thou shalt not covet but try to find a lookalike.lol
The Question asked was how much do invest in a trade
but that is your business so under no obligation to Answer
Today’s Nation Editorial
https://m.facebook.com/thetonyelumelufoundation/videos/1352363541970911/
@John A
https://www.instagram.com/tv/CmxYrilBZoc/
Min 50k. Unless I’m adding to a position.
For some things, my head is extremely hard. I have attempted to understand ‘options’ but I can never get it.
I believe the book is right next to my book on how to play the guitar.
I buy and hold …
The long and short of it is that you are old fashion. @TheO
You prefer to carry a long position. Good luck with that approach in these times.
man’s life is like a river that does not know the vastness of ocean it journeys to join
I assume (guess) Barbados does not have any real hills or rivers or an Underground in a literal or metaphorical sense
“to utter in a low voice, repeat internally, mutter”
‘what is true worship’ and what is the nature of God’
Japji Recited in English
I have attempted to understand ‘options’ but I can never get it.
An option is a derivative (not in primary market) that allows you to purchase stock in the future at a given price.
“You prefer to carry a long position. Good luck with that approach in these times.”
Are you inferring Theorcracy is anal
(*) lasting for an immeasurably or indefinitely long period of time.
Zero-sum game is a mathematical representation in game theory and economic theory of a situation which involves two sides, where the result is an advantage for one side and an equivalent loss for the other. In other words, player one’s gain is equivalent to player two’s loss, therefore the net improvement in benefit of the game is zero.
If the total gains of the participants are added up, and the total losses are subtracted, they will sum to zero.
At the racetrack less the 15% cut the track takes. $1M bet 850k returned. (less than zero) But these governments are flooding the markets with money.
Source: Nation
Source: Nation
@ David
The arrivals are encouraging let’s hope the spend is there as well. Hopefully we can return to 2019 -2020 numbers finally this year.
@John A
The blogmaster is more concerned about spend.
No surprise here.
Don’t expect cost of living reprieve – economist: https://barbadostoday.bb/2022/12/30/dont-expect-cost-of-living-reprieve-economist/
Petra Roach. Bajan success in Grenada tourism.
https://www.nationnews.com/2023/01/02/tourism-numbers-grenada/
Are we losing our ‘place’ in the English speaking Caribbean?
Are we still a part of the “Big Four” or have we now lower on the list?
I have been following the news and it would appear that we are in reverse gear whilst other islands are actively moving forward. I have already commented that in stories where I expected to see the word “Barbados” I am now seeing one of the ‘smaller’ islands mentioned.
Watching the press initiatives and new deals being announced, I am seeing the fancy footwork of the Ali shuffle as our island is moving backward. We need to stop navel gazing and look at how our neighbors are making progress. We talk of punching above our weight whilst our neighbors are moving up to higher weight classes.
“Ladies and gentlemen in this corner is the a flyweight who hits like a bantamweight, and his opponent is a middleweight who hits like a middleweight”.
Perhaps we need to tackle the real problems facing is instead of announcing esoteric initiatives that will benefit a few.
Solution
Perhaps we need to tackle the real problems facing is instead of announcing esoteric initiatives that will benefit a few.
Trade in digital, cryptocurrency …… for
Bread and butter! Meat and potatoes!
Based on what is happening with digital currencies globally I for one would place little confidence in them taking us anywhere at this time.
Prime Minister Mottley using the R word.
Source: Nation
Living in Barbados
https://barbadostoday.bb/2023/01/05/no-regional-matches-allocated-to-the-island-by-cwi/
This is a continuation of a comment that I made. No matter how uyou interpret it, Barbados is moving out of the top 4. This is manifesting itself in several different ways.
From BT
“I think it is a clear indication from Cricket West Indies that Barbados is being ostracized. You cannot have Barbados as a leading nation in the region not …. host meaningful matches…. I would like to know from Cricket West Indies who sets out the fixtures and who decides where these games are being played,” Wallace said.
Spin if you want. Reality is a bitch.
https://barbadostoday.bb/2023/01/05/house-settlement/
“It appears as though Member of Parliament for St Michael East Trevor Prescod won’t have to fight to keep houses being built in his constituency for residents there after all.”
Me, I got a likkle 2×3 that the wind could blow thru and wind from a fan could blow way. I want uh spot to rent and tekking my house to this constituency. This Barbadus thing en wukking uh me. I’m now from St Michael East. I fuh Prescod.
You know, that I do not like Ralphie (Gonsalves), especially after he used the powers of the state against that young girl “Yugge Farrel”. But as I read the news, I am beginning to like the man.
https://stluciatimes.com/150119/2023/01/st-vincent-buying-pre-fab-houses-from-guyana/
No fancy speeches; no outrageous promises for 10,000 houses; just delivering meat and potatoes …
Say what you like, the man brekking into the Big 4.
TheOGazerts on January 5, 2023 at 1:21 PM said: “This is a continuation of a comment that I made. No matter how you interpret it, Barbados is moving out of the top 4. This is manifesting itself in several different ways.”
“Spin if you want. Reality is a bitch.”
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Seems as though ‘The O Guy’ is sadly losing his ability to think reasonably and rationally. Perhaps it may be as a result of him having ‘too much time on his hands’ nowadays.
And, I may have to reluctantly place him in the same category of certain persons who post excessively to BU.
His above comment isn’t FAIR.
Unfortunately, he hasn’t placed the situation in its proper perspective and may have PURPOSELY OVERLOOKED an important point made in the BT article he alluded to.
That “The BCA, under Riley, has had previous run-ins with CWI under its present leadership.”
It is a known fact current CWI president Ricky Skerritt and vice-president Dr. Kishore Shallow are not too fond of former president, Dave Cameron.
BCA president Conde Riley publicly supported Cameron in his re-election bid as president of CWI.
‘The BCA did not support the candidature of president Ricky Skerritt and vice-president Dr Kishore Shallow in the elections that saw former president Dave Cameron unseated.’
‘And Riley was highly critical of Skerritt and Shallow when the coaching staff and selectors were dismissed just weeks before the World Cup in England.’
On Saturday, October 26, 2019, CWI announced the schedule for the tours to the Caribbean of New Zealand and South Africa. No matches were scheduled for Kensington Oval.
Some people believe
Recall on Friday, June 26, 2020, Cameron confirmed was seeking to succeed Shashank Manohar of India as chairman of the International Cricket Council (ICC), which would’ve required him to have the support of two full ICC members.
Cameron was proposed by the United States of America Cricket Association (USACA) to be chairman of ICC and needed a second and final nomination, which he hoped would’ve come from CWI.
The US Cricket Hall of Fame wrote to the world body recommending Cameron as the man for the job…… and CWI asking the Board to nominate him.
Skerritt and Shallow refused to support him.
In fact, on Monday, June 29, 2020, during the Nationwide Sports Show in Jamaica, Shallow made it clear Cameron would not be getting his support.
Riley held the opinion CWI should support Cameron. While speaking on Tuesday, June 30 edition of ‘Mason & Guests,’ Riley said Shallow ‘spoke out of turn.’
Supporting Cameron ‘is not a personal decision. It is a Cricket West Indies decision where all the directors would sit and decide if Dave Cameron is the right man for the job.’
The ‘governing body of cricket in the region needed to support their own.’
There are several more examples.
Also remember, on Thursday, November 9, 2017, Antigua’s PM Gaston announced in Parliament that the Government of Antigua and Barbuda and the then West Indies Cricket Board (WICB), would jointly purchase the Stanford Cricket Ground and Sticky Wicket restaurant for US$7.5M.
Browne said the WICB would contribute US$4.5M, giving them 60% shareholdings…… and the Antiguan government the remaining US$3M.
The PM also said he believed the joint agreement ‘would help grow the island’s economy and keep the WICB’s headquarters in Antigua.’
The property was subsequently renamed ‘Coolidge Cricket Ground’…… and it is interesting to note that all or the majority of WI cricket team’s practice matches are played at that venue, as well as several international tournaments.
Source: Nation
A very thorough response, but …
I would be the first to admit that I have no or a little knowledge of WI cricket. On the politics of WI cricket, I can easily pass as a dummy. The current game does not show the Caribbean/WI in a positive light.
However, my power rankings are based on several stories not a single one.
Again, I repeat where I expect to see the word Barbados, I am seeing the name of another country.
We may be big on promising 10,000 houses in five years but Gonsalves scores more points with the actual delivery of 150 houses. Meanwhile we are unable set up 150 houses in two years. Initiatives are announced but the other islands are more realistic and are in the execution phase.
On July 1, in BarbadosToday, there was a story about ferry service between Barbados and the Eastern Caribbean “Ferry investors ready for business” but more recent stories suggest ferry travel between other islands is more likely. We have fallen off the map.
In my power ranking Guyana is #1 of the Big 3. Trinidad and Jamaica has the next two spots, but that is due mainly to their ‘size”, the fourth spot is being hotly contested by other governments and reluctantly I am giving the nod to St Vincent.
I will search for the other stories that influenced my opinion
“On July 1, in BarbadosToday, there was a story about ferry service between Barbados and the Eastern Caribbean “Ferry investors ready for business” but more recent stories suggest ferry travel between other islands is more likely.”
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
I understand and agree with the points being made, especially about the ‘Comrade’ and SVG, which I believe is a fair comparison, relative to making promises and fulfilling them.
As it relates to a ferry service between Barbados and the other Caribbean islands, there has been talk about such a service for over 20 years.
The president of ‘easyCruise One,’ Stelios Haji-Ioannou, visited Barbados in May 2005, with the hopes of basing his 170-passenger here from November 2005 to April 2006.
Plans included ‘a weeklong Caribbean loop to islands such as Saint Lucia, Martinique, St. Vincent and the Grenadines, and Grenada.’
The Thursday, August 4, 2016 edition of the Daily Nation reported that a company registered in Barbados named, ‘Caribbean Ferry Service,’ was in the process of finalising paperwork to operate two vessels, ‘The Dream Jet Express’ and ‘The Opal Jet Express,’ for travel and cargo through the region, by the end of 2016.
The service was supposed to be initially accessible to passengers from BGI, SVG and SLU. And, eventually, other islands would’ve been added to the itinerary.
However, if we objectively evaluate any feasibility study of such a venture, I don’t believe there would be enough evidence to support the claim “we’ve fallen off the map.”
For example, what would be the operational, financial, economic, market and scheduling feasibility of operating a ferry service between Barbados and Antigua, St. Kitts, Nevis, Anguilla, Montserrat or St. Barthélemy, especially when one considers fares would be high because of the distance…… and ferries are preferable for short distances?
St. Vincent and the grenadines; Antigua, Barbuda and Montserrat; Guadeloupe and Dominica; Martinique and St. Lucia; St. Maarten, Saba and St. Eustatius; St. Kitts and Nevis; Trinidad & Tobago…… are examples of islands with ‘short trip’ ferry services.
Consideration must also be given to sea conditions.
Interestingly, successive political administration of Grenada and Trinidad have so far been unsuccessful in their efforts to launch a ferry service between both islands.
Source: Nation
He told the Saturday Sun the economic picture is “very positive provided that Barbadians as individuals, and companies and firms operating in Barbados, take the right strategic decisions for the opportunities that we have opened up, such as access to finance and markets. If we do that, then we will be able to navigate 2023, 2024 and 2025 with much more confidence”.
~~~~~~~~~~~~~~~~~~~
Same shaving cream that Mia said!
We elect 30 brass bowl ‘leaders’ and their message is that it is all up to “individuals and companies”, and if things fall apart, it is these individuals and companies who would have failed….
MEANWHILE, the 30 BBs paying themselves top dollar to talk shiite, giving consultancies and contracts to their friends and family, and seeking out ‘finders fees’ from foreigners – in exchange for the gifting of local assets.
…and passing new, useless, shiite laws every damn week…
Note that, not one BB have they been able to get to work successfully….
-The roads are all like cartloads
-The Hospital is an embarrassment and insult to the poor
-NIS scheme mash up
-Importing $28Million in Steal Houses – and assembling 5 in a year?
-No action on sewage management
-They now giving the sugar industry to the same white people that raped it
-CBC being given away to foreigners
-Begging the Chinese for someplace for our children to play….
How low can we get to…?
The ONLY good news is that Bajans seem to enjoy being ‘played’ like this – even without vaseline.
So indeed, a people ALWAYS get exactly what they DESERVE.
@ David
Do you think that we will EVER hear one of these government jokers come out and articulate a clear, detailed, plan – to move the damn place forward ..or at least to solve some of the problems?
…and a ‘plan’ is not just promising everyone everything that they ask for, and then skinning your teeth as the mendicunts hold out their hands…
Steupsss
What a damned and cursed place….
once blessed!
Bushie long told wunna about the significance of that ugly monument to Satan that Froon planted on the damn Garrison….
@Bush Tea
From what we have seen so far it will continue stretch our faith to continue to hope for things that should have been seen by now and of promises yet to unfold.
https://www.instagram.com/p/CnIZxjOLwuj/
“….stretch our faith to continue to hope for things that should have been seen by now and of promises yet to unfold.”
~~~~~~~~~~~
Speak fun yuhself Boss…
Ongoing empty promises may be a comfort to brass,
but not to stinking Bushie…
Where Bushie’s faith is grounded, such shiite promises by blind brass bowls are nothing but fodder for derision and mirth…
ps
Looks like yuh got Kiki in a neck lock…
Bushie hope that yuh choke de BB.
LOL
ha ha ha
@ David re your Instagram release
What did Bushie tell you…?
The Central Bank of Barbados (CBB) and the Financial Services Commission (FSC) today confirmed that the Barbados Public Workers’ Cooperative Credit Union Limited Group of Companies is solvent and condemned social media posts that suggested that CAPITA Financial Services Inc. had collapsed.
They warned that these alarmist statements could destabilise the financial system and encouraged individuals to be more responsible in their communications on such matters, whether to traditional media or social media outlets.
~~~~~~~~~~~~~~~~~
What a collection of jackasses!!
THEY start a shiite panic over some petty issue – and against one of the BEST and most successful financial, social and functional institutions in the shiite place – and only NOW grasp the CONSEQUENCES of their ill-conceived folly.
Up to Bushie, Each and every one of those jackasses would be fired. Both from the bank and the waste of time FSC.
Ordinary Bajans, MANY AS VOLUNTEERS, running a complex set of organisations, SUCCESSFULLY and PROFITABLY, and due to circumstances – (many of which were IMPOSED by these same shiite ‘regulators’) happen to be A FEW MONTHS LATE with some shiite report- and these scamps come running with a big hammer – and talking a lotta shiite.
Meanwhile, The damn TREASURY has been. unaudited now for YEARS.
Annually, the Auditor General writes scathing reports about practically ALL government agencies – and not a word from these judases.
Steupsss
Nothing worse than a slave-minded brass bowl handed a set of keys and a stick….
But in Barbados, they will all probably be promoted to ‘senior’ some shiite….
It gives me great pleasure to inform you that there is positive news on the creation of houses in Barbados.,
In BT’s e-paper there is a story “Prefab houses due to arrive early February”.
350 DuraVilla home should arrive in Barbados at the end of January or early February. A further 650 should be here ‘between 90 to 150 days’.
It appears that these houses from Guyana may be easier to erect than the 150 houses from China.
Read the story for yourself as there is still mention of 10,000 houses. A story worth following. If these houses construction is executed as planned, then this is major step forward.