20081020 1609. Today Najib announced the government's economic package for the country, in the face of the selling due to the financial crisis affecting the world.
Among the measures, Valuecap will use RM5 billion to buy 'undervalued shares'. Back in 1997, Dr Mahathir did the same thing "we will issue bonds worth RM8bn to buy stocks. At current PE it will be profitable." The KLCI was at 800 and tanked to 265 back then.... What will happen now?
Another notable quote is from Warren Buffett: "I am buying US stocks. A basic tenet of my investing philosophy is 'Be fearful when everyone else is greedy, and be greedy when everyone is fearful.' Right now FEAR is gripping even the most seasoned market professionals."
Among the measures, Valuecap will use RM5 billion to buy 'undervalued shares'. Back in 1997, Dr Mahathir did the same thing "we will issue bonds worth RM8bn to buy stocks. At current PE it will be profitable." The KLCI was at 800 and tanked to 265 back then.... What will happen now?
Another notable quote is from Warren Buffett: "I am buying US stocks. A basic tenet of my investing philosophy is 'Be fearful when everyone else is greedy, and be greedy when everyone is fearful.' Right now FEAR is gripping even the most seasoned market professionals."
posted by emacro @ 4:12 PM
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