Shares of the Murray Hill, N.J.-based company fell 4-1/8 to 73-1/8 on volume of 9.5 million late on Tuesday.
Not quite..... final tally:
LU closed at 74.5 (down 2.375, or 3.1 %) on 14.8 Million traded shares.
I love the analysts.... they rate LU buy at 96 plus.... then when it falls, they say SELL, SELL.... look at INTEL's recommendation records.
Now, let's take a look at International markets since it is claimed that it is the reason for worry:
Our friend Mr. George Soros.
The (former) champion of free market wizardry, (betting against the Bank of England, no less), and coming out with 2 billion dollars profit (or more).....
Now that he is in the losing end.... is now calling for "International Supervision" over the local bureaucrats, plus asking to further fund the IMF and establishing an international FIDC....
Claiming that otherwise, there will be chaos and terrible consequences in the International markets.....
Sorry, but it smells like snake oil selling to me....
What is the real impact of a Russia melt-down ? IMO it will be minimal.
In my eyes, the free markets is what builds real discipline and honesty, for about 70 years the Soviet Union preached their collectivist bs, well, Ivan, it is time to pay up for the consequences of the free loading and leeching from bureaucrats.
Time is up and it is time to pay up, develop a real free market, (without a mafia), then you will get real progress.
Same goes for the Latin American markets, get rid of the rampant corruption or else..... Perhaps today's rebound in the L.A. markets is a sign that they are not as bad as the situation in Russia.
We shall see. I bet on the side progress and not doom & gloom.
Common sense tells me, that in order to execute the wisdom of "buy low, sell high"..... well one has to do the buying when it is low
and right now LU seems to be low.... if it goes lower, well I was wrong.... and I will wait until it is higher. (since I do not think it will be low for long).
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