Mahjong is a traditional Chinese game. There are various versions of mahjong today: the Chinese, the Japanese and the American with different rules. There are also various kinds of games like the Mahjong solitaire. Mahjong is a game that involves skill, intelligence, estimation as well as luck. Mahjong, which literally means “the game of a hundred intelligences” in Chinese, has been traditionally used as a gambling game. Ma Chiao, Mo Tsiah, Ma Cheuk, Ma Jong, Ma Chiang, Ma Chong, Man Chu, Mah Diao, Pung Chow, Mah Chong, Ching Chong, Mah Cheuk, Ma Chiang, Kong Chow, Mah Deuck, Lung Chan, Mah Lowe, Pe Ling, Baak Ling are other names for Mahjong.
Tiles are the most important part of the game. A mahjong game may contain 136, 144, 148 or 152 tiles, the most common being 136 and 144. These tiles have beautiful designs on them representing honor tiles (the winds and the dragons), suit (bamboo, circles and characters) and flower tiles. The most common designs are: the circle/wheel suit (contains circles), the bamboo/stick suit (contains bamboos), character/number suit (Chinese characters representing ten thousand coins each), wind tiles (representing north, south, east and west), dragon tiles (red, green and white), flower tiles (containing art work) and joker tiles (used like a wild card, as a substitute for any tile). A Mahjong set contains 144 tiles, 2 season tiles, 4 “red 5″ bonus tiles, 1 table wind Tessera, 4 dice, scoring tallies, storage trays and a carrying case. These tiles are of 34 kinds, in five different suits or designs-wan, circle, bamboo, wind and prime (4X34=136) and 8 flower tiles.
The flower and season tiles are like the wild or joker card in card games. They are used as a substitute for other tiles and may not contain any scoring points. Plum, Lily or Orchid Chrysanthemum and Bamboo are the flower tiles while spring (fisherman), summer (woodcutter), autumn (farmer) and winter (scholar) are the season tiles. Seasons are represented by people or animals. There are three kinds of dragons: the red dragon, the green dragon and the white dragon. There are four dragons of each of these three kinds in a set. Each of these tiles has different scoring points. The stick suit, the wheel suit and the number suit contain 9 kinds of tiles, numbered 1 to 9. The wind tiles contain 4 kinds of tiles, 4 kinds of flower tiles, 4 kinds of season tiles and three kinds of dragon tiles. These tiles are made of ivory, plastics or other compounds though semi-wooden or wooden tiles are also available. Some sets contain wooden tiles with beautiful hand-engraved designs.
Mahjong provides detailed information about mahjong, mahjong solitaire, mahjong tiles, mahjong online and more. Mahjong is the sister site of Free Online Casinos.
The uniform response when quizzing people on what exactly it is that givers Peter Sutherland the winning edge is that his unique mix of charisma and robustness has served him well over the course of his illustrious career. Peter Sutherland was instrumental in negotiating the General Agreement on Tariffs and Trade, and it has been well documented that in order to get the accord passed, it was not unusual for him to keep negotiators at the table into the small hours of the night. The deal came together after seven years of negotiations, and the very gavel he used throughout now sits on his desk at his office in London where he serves as chairman of the arm of Goldman Sachs Group Inc. that oversees Europe, the Middle East and Africa.
In 1995 he rejoined Goldman Sachs, where he had previously worked as an adviser. Eugene Fife then head of the firm’s London office recruited him after they met on a London-to-New York flight. Not only current but also former Goldman Sachs employees say Mr. Sutherland gave the bank a boost when it was trying to break into Europe.
It’s uniformly accepted that Peter was ideal for winning business away from London’s big merchant banks as well as European financial firms. He brought with him an impressive amount of extremely useful contacts. He is close to Italian Prime Minister Romano Prodi. In more recent times he accompanied former Goldman CEO Henry Paulson on trips to China and Russia before Paulson became treasury secretary last year. Not only this, he was integral in building a relationship between Goldman and Mittal Steel Co. That paid dividends when Mittal hired Goldman as lead banker in its $39 billion takeover of Arcelor SA last year. By all accounts Peter Sutherland has been instrumental in some keys bits of business which have had a massive impact on the development of Goldman.
Recently, video game sales stats in Japan have been released that show unlike the week before, the Nintendo DS was able to out sell the Sony PSP. Nintendo may struggle in the competitive market in North American, but in Japan, Nintendo is still the king of the land.
Media Create, a leading analyst firm in Japan, shows that in the week of January 16th-22nd, Nintendo held nine out of the top ten spots in software sales. Among these popular games in Japan are Animal Crossing 2, Super Mario Strikers, Brain Training and Brain Training 2, Mario Kart DS, and Monster Hunter portable, amongst others. Also, in the same time period, the Nintendo DS was #1 amongst system sales with 64,515, which was 26,244 more than the Sony PSP
Comparatively, the Xbox 360 continues to struggle in Japan. The week before, Microsoft sold 6,107 consoles, while this week, only 3,616 were sold.
It will be interesting to compare this date once the Sony PS3 and the Nintendo Revolution are released. Most likely, the now popular handhelds will have to make way for the hugely anticipated consoles. The question remains though; who will win the console war in Japan?
When Nintendo released market share data for the handheld video game industry it revealed that Game Boy Advance holds 41% of the market, the Nintendo DS at 31% and the PSP at a close 28% though it released just four months after the DS launch in North America and has been overshadowed by a DS sales surge thanks to the large list of well liked first-party games.
however, for the time being, these statistics show that Nintendo is still holding strong in the video gaming market in Japan due in part to great games and Wi-Fi connection
Console sales In Japan from January 16th-22nd
1. DS: 64,515 (210,177)
2. PSP: 38,271 (228,714)
3. PS2: 26,271 (146,097)
4. GBASP: 7,912 (35,338)
5. GBM: 4,653 (22,813)
6. GC: 4,490 (23,378)
7. X360: 3,616 (17,200
8. GBA: 236 (1,033)
9. Xbox: 83 (358
For more news, check out our Xbox 360 site or our Nintendo Revolution site.
When you are just starting out playing cricket it is not always straightforward to tell what you must buy. If you go into a sports retail store and ask them what you need, you will probably finish up coming out with a great quantity of equipment. So, it is wise to figure out what you will want prior to you going shopping. That way you are more likely to get what you want, rather than what the shop landlord suggests you need.
Below, is more or less a complete cricket equipment list, you don’t have to get everything on this list, as many organisations will loan you equipment in particular at youth level:
Cricket whites, cricket bats, balls, helmets, gloves, batting (wicket keeping) inner gloves, wicket keeping gloves, batting pads, wicket keeping pads, box, chest pad, arm guard, inner thigh pad, cricket boots (bowling boots; batting boots), box (groin guard), stumps and bails. For the best deals on cricket equipment supplies, take a look at Sportswear-Equipment.com today.
For the majority of cricket competitions you will ever participate in you will need to have your very own set of whites. Cricket whites consist of white cricket trousers and a cricket shirt. It is important to check that you get a good pair of cricket trousers as well as a good white cricket shirt & jumper as it can turn cold if you are standing out on the pitch for a great deal of time especially if you are going to play in England (the start and end of the cricket season are the coldest).
If you can not rent kit from your club the other most crucial items of equipment are a cricket bat & box. A good cricket bat is essential if you plan to score tons of runs & is a very personal piece of equipment, therefore spend a few hours selecting your bat, if possible you would be recommended to go to a store and pick one up before you buy in order for you to know how it feels to play with. When you know what you want you can often procure bats on the World Wide Web noticeably cheaper). You need a good box to shield your groin from the ball, as getting hit down below’ is considerably painful, so investing in a good box before you start is a defiant must - you can’t play cricket without one.
1. Introduction To Fletching
Fletching is one of the most respected skills in Runescape because of its fast xp gain, makes a lot of money and can make you rich with the right skills. So do you want to know what fletching is? Well Fletching is a skill that lets you make your own ranging weapons, including special bolts, arrows, bows, and darts. And all you just need is an axe (for cutting trees) and a Knife for your basic equipment.
2. Skills Needed To Do More In This Skill
The skills you mostly want to have since these will make fletching easier are woodcutting (to get the wood), smithing (to get the arrow heads, etc.), mining (getting ores for bars), combat (to get the feathers from the chickens!), and magic (to alch the bows for $$).
3. Making Arrows
First off you will have to start to make arrows. (When you cut one log you will get 15 arrow shafts per log.)
Get your woodcutting axe to cut a normal tree
After that get your knife out and use the knife on the log and you will get a menu up and pick the arrow shafts.
Then get feathers from chickens, kill them, take their feathers and use the shafts on the feathers or vice-versa.
Go get your pickaxe and go mine tin and copper ores (id this is your first time) and make them into bars and smith them into arrow tips (requires 5 smithing).
Finally use the arrow tips on the headless arrows and you got your arrows!!!
Here is a table of all the other arrows and what smithing levels you need to smith the arrow heads.
Arrow Table
Pic Name Fletching lvl Exp. Lvl for Smith
15 Arrow shafts 1 5 N/A
15 Headless Arrows 1 15 N/A
15 Bronze Arrows 1 39.5 5
15 Iron Arrows 15 57.5 20
15 Steel Arrows 30 95 35
15 Mithrill Arrows 45 132.5 55
15 Adamant Arrows 60 165 75
15 Rune Arrows 75 225 90
4. Making Bows
Well when you finally reach level 5 you can start making bows! Making bows is one of the most simplest thing to do and gets your XP up fast by doing this. This is how most people make most of there money and get millions of gp!!!! So here below is how to make bows.
At level 5, start by getting a full inventory of normal logs
Then get your knife out of the bank and cut all of the logs into unstrung short bows
Go to Seers Village and pick flax and after go to a spinning wheel and spin the flax (lvl 5 crafting required) to make bow string
Use the bow string with the bow and to make a strung short bow
Bow Table
Pic Name Fletching lvl Exp.
Short bow 5 10
Long Bow 20 20
Oak Short Bow 33 33
Oak Long Bow 25 50
Willow Short Bow 35 66.5
Willow Long Bow 40 83
Maple Short Bow 50 100
Maple long Bow 55 116.5
Yew Short Bow 65 135
Yew Long Bow 70 150
Magic Short Bow 80 166.5
Magic Long Bow 85 183
5. Making Special Bolts
Think only fletching is for making arrows and bows? Wrong!!! You can also make special bolts that is more powerful then the regular bolt. You can make 3 different bolts: Opal Tipped, Pearl Tipped, and Barbed Tipped Bolts. Below is 3 small guides how to make them.
Note: You can only get normal bolts from the archery shops in Varrock and Catherby, as well as from monster drops. Also respawns are in some laces in the wilderness.
Opal Tipped Bolts:
Go to Shilo Village and mine some of the gem rocks there. You will need to have finished the Shilo Village Quest to get in.
Use a chisel with the Opal(s) to cut, and once more to make Opal Tips. You get 2 tips per gem.
Use the Opal Tips with some normal bolts, and you’ll have Opal Tipped Bolts.
Pearl Tipped Bolts:
Go fish some Oysters (hard to get some that have a pearl in them, but just keep trying).
When you have an Oyster with a pearl in it, use a chisel on it and you’ll get a pearl. Use the chisel on it again and you’ll have some Pearl Tips. Each pearl gives 2 tips.
Use the Pearl Tips on a normal bolt, and you have some Pearl Tipped Bolts.
Barbed Tipped Bolts
Go to the Ranged Guild and shoot at the targets until you have 140 tickets.
Go exchanged your tickets for 30 Barb Tips.
Use your Barb Tips on some normal bolts, and you’ll have some Barbed Tipped Bolts.
Bolt Table
Pic Name Fletching lvl Exp.
2 Opal Tipped Bolts 17 6
2 Pearl Tipped Bolts 33 12.5
30 Barbed Tipped Bolts 51 95
6. Making Darts
Darts is the last item that you can make in Fletching. People don’t really make darts since they are hard to make but not that hard since all you have to do is get some dart tips and put some feathers on them.
Note: You need to have done Tourist Trap Quest to make Darts.
Darts-Table
Pic Name Fletching lvl Exp. Smithing lvl
Bronze Darts 1 18 4
Iron Dart 22 22 19
Steel Dart 37 75 34
Mithrill Dart 52 112 54
Adamant dart 67 150 74
Rune Dart 81 188 89
7. Training Fletching
So.. do you want to know where the best place to train fletching at huh? I will give it to you since you all read my article on fletching.
Level-1-10
I know you think I am crazy bout making shafts is the fastest way. Just go to Draynor Forest and cut trees there but don’t forget to bring your knife.
Levels-10-25
Making Long bows are going to be the easiest way to get to level 25. go to Draynor Forest and cut trees there.
Level-25-40
Make Oak long bows in… guess… Draynor Forest.
Level-40-55
Make Willow long Bows next to Draynor Market.
Level-55-70
Make maple Long Bows at Seers Village
Level-70-99
Now you can make Yew Long Bows at Seers Village
Made by RSD edited by 77jack77
While December 31st is behind us, your client’s charitable giving begins this month and continues through out the year. Don’t forget before December 31st you’ve got to meet deadlines for clients making charitable gifts. Mark your calander now to avoid the frenzied rush of beating a deadline. Your clients will thank you for it.
1. Cash Gifts: these must be postmarked by December 31st. 2. Charitable Gift Annuities: give this at least 3-5 days for the account to be established and assets transferred. 3. Real Estate Gifts: generally have hang-ups, so allow 6-8 weeks. 4. Securities: by the time you get the DTC number and touch base with your client, allow a minimum of 3 days, 5-10 is better. 5. Mutual Fund Gifts: allow 3 weeks for the transfer to complete.
You are busy and know by now that this time of the year is the busiest. By and large, people always wait until the last minute to do things. To make life a little easier on you and your staff, consider sending out reminders to clients with these deadlines every October 31st. It gets them thinking and acting sooner and takes a lot of pressure off of you of and your staff. Gifting over months seems more rewarding and is better planned than the last minute “crunch”.
Make a difference for your client and for your service to them by planning gifting all during the year.
Wizened Wall Streeters say that you’ll have more investing success if you remove emotion from your buy and sell decisions. Perhaps the most emotionless approach is program trading.
This is a generic term used to describe trading in stocks, options and futures based on price relationships and not on the underlying fundamental strength or weakness of the company or index. If you see the DOW suddenly turn from plus-50 to minus-50 without big-time breaking news, it’s probably the result of program selling. The same goes if a declining index spurts into positive territory within the span of a few minutes; that’s likely a buy program hitting the market.
That’s what happened Thursday, November 20, 2003 in the final hour of trading. The DOW and NASDAQ were nicely green when a sell program hit. Down they went, and by the close the DOW was down 71 and the NASDAQ off 17.
It’s completely legal and performed by all the major institutions. They have the capability to dump millions of shares in a sell program; conversely, they’ll grab millions of shares in a buy program when they are in an acquisitive mood.
The trades are usually triggered automatically at specific price or technical levels like the 50-day moving average or DOW 10,000. The trigger point is often chosen many days earlier. The computer does the work. It’s the ideal “set it and forget it” style of investing.
Many times program trading sets the stage for a strong or weak open to a trading session at the NYSE or NASDAQ. If you read in our e-mails that the S&P futures are soaring well ahead of fair value in pre-market activity, the odds are that institutions will automatically sell the futures at the open and buy the underlying stocks to set the stage for a big gap higher. The same can happen in reverse if the futures are collapsing.
If you hear a reporter on a financial station talk about “rotation” from one sector to another, he’s probably referring to one or a series of programmed moves. In that case, the institutions have picked a certain price level to shift from, say, cyclicals to small caps. The swap usually impacts most of the stocks in those sectors.
The sudden appearance of a buy program or two can also create a “short squeeze” in which traders decide to buy shares of stock to cover an eroding short position. The increased buying pressure, adding to the programmed buying, can dramatically increase the upward momentum.
Dueling buy and sell programs were staples of the 1990s bull market when volatility often ruled the exchanges. Even today, as much as 30% of NYSE daily activity is pegged to program trading. Whenever the market begins to rally, you may see more of this volatile action.
Should you fire your financial advisor and hire a month in order to optimize your asset allocation?
Probably so, if you believe proponents of a time-honored indicator of future stock market performance known as “The January Barometer.” The Barometer simply states that “As goes January, so goes the year,” and it’s racked up a seemingly remarkable forecasting record since well before Yale Hirsch of Stock Trader’s Almanac first popularized it as early as 1972.
Since 1938, the direction of change of the benchmark S&P in the first month out of the gate has matched the year as a whole more than a whopping 80% of the time, making January by far the most predictive month on the calendar. The results are similarly impressive if you use the Dow Jones Industrial Average (DJIA) as a yardstick and, although it somewhat diminishes the accuracy of the forecasting tool, if you assess efficacy over the next 11 or 12 months to avoid double-counting January’s moves in the periods it’s supposed to foreshadow. Dating back to the inception of the NASDAQ Composite Index in 1971, January achieves the greatest success of any month in anticipating the movement of OTC stocks throughout the following 11 or 12 months, and ranks second only to April in its correlation with calendar-year outcomes. Starting from 1950, an up January has meant about a 13% gain in stock prices through the remainder of the year, while opening with a down month presaged about a 1% loss.
Criticisms of The January Barometer
The historical evidence looked even more compelling at the start of this decade, but The January Barometer laid an egg in 3 of the past 5 years. In 2001, a positive January called a premature end to a bear market that got ugly after Al Qaeda suicide hijackers attacked the World Trade Center and Pentagon. In 2003, stocks declined in January, continuing a deep correction in the wake of a sharp initial rally off the final bear market low of the previous October, but turned higher in springtime to climb 26.4% by year-end, still the biggest annual gain since the 1990s. Last year, the market fell again in January, only to see the S&P 500 eke out a 3% gain for all of 2005, although the Dow edged down a fraction of a percent. However, the lackluster display by the blue chips actually understated the effect of the Barometer’s error in a year in which smaller stocks outperformed for a 6th straight time and the average equities mutual fund returned a total 9.5%.
Supporters of The January Barometer sometimes point to the 20th Amendment, a piece of Depression-era legislation also known as the “Lame Duck Amendment,” to explain why it works. The 20th Amendment mandates that presidential terms, as well as those of senators and representatives, shall conclude in January, and calls for congress to convene on January 3. Formerly, they didn’t throw the rascals out until March. Despite ratification in early 1933, the amendment didn’t take effect until 1934. Hence the nation was forced to endure 4 months of lame-duck leadership from a by then wildly unpopular Herbert Hoover after the 1932 election, as the Great Depression deepened and Wall Street surrendered the vast bulk of its spectacular gains achieved during the summer of ‘32, following the stock market bottom.
Now, the president delivers his State of the Union Address, highlighting priorities for the year ahead, and unveils his proposed budget in January, making the month particularly influential, or so the theory goes. Of course, they don’t hold national elections every year, and almost all of the leaders are incumbents or politicians with already well-known agendas. If the timing of the presidential inauguration is so important, why didn’t a “March Barometer” foretell stocks’ future before 1934? From 1897 through 1933, the direction taken by the DJIA in January corresponded to the full year’s results 23 times out of 37, versus just 20 of 37 for March. The record throughout that interval stays the same even if you substitute the S&P for the Dow beginning in 1928, the first year they tabulated daily prices for the S&P.
Staunch defenders of the January Barometer like to commence their record keeping in 1938, citing the especially lopsided congressional margins enjoyed by Democrats earlier under the FDR Administration. This smacks of classic backfitting, however. Could the real reason behind the 4-year delay in implementation of their pet prognostic technique instead be the disastrous performance shown by The January Barometer in the 1934-1937 timeframe? In 1934, the S&P jumped a robust 10% in January, only to slide 19% during the next 12 months. If you sold on January’s 4% dip to kick off 1935, you missed a roaring 57% advance. And if a 4% rise in January 1937 enticed you to bite, the stock market’s October 1937 crash left you licking your wounds amid a 41% plunge. Another benefit to choosing 1938 as a starting point, while ignoring the entire 1897-1937 period, rests in the fact that most market years are up years, and the more recent era captures the secular bull markets of 1949-1968 and 1982-2000, leaving out the worst years of the Depression and the relatively dull markets of the first 20 years of the 20th century. In 1897-1937, stocks went up only 23 out of 41 times (56%), compared to 47 of 67 (one year was unchanged), or 70%, subsequently. January historically ranks as the second-strongest calendar month for stocks, trailing only December.
January Barometer’s Notable Failures
Still, in over a century since the advent of reliable daily stock averages, the January Barometer boasts a 72% (78 of 108) success rate, including a level of accuracy approaching 80% during those years in which the market closed higher in January, as was the case this year. Yet the S&P 500, through Friday, February 10, 2006, remains over 1% lower this month after hitting new bull market highs a few short weeks ago. Accordingly, this seems like a good time to examine some of the January Barometer’s most notable failures following those occasions when it appeared to call for further stock price appreciation.
1902: The DJIA established a final bull market peak in June 1901 and continued to edge down slightly in 1902.
1903: Railroad stocks had risen for over 6 years, more than tripling without a serious setback, when they topped in September 1902. Their yearlong bear market was just getting started when 1903 rolled around, and their eventual collapse would drag down the industrials.
1906: Final bull market high in late January, and the DJIA was nearly cut in half before the end of 1907.
1914: A 5-year bear market, which began with an unsuccessful assault on all-time highs in 1909, climaxes in July 1914 when authorities shut down the New York Stock Exchange at the outset of World War I.
1917: After stocks more than double to a November 1916 final top in the first couple of years of the War, in which America gets rich supplying the Allies in Europe, the market drops 40% by December 1917, as direct U.S. involvement in the conflict looms.
1929-31: Stocks crash after an explosive rally in the summer of 1929 caps an 8-year bull run, ushering in the Great Depression. Optimistic investors prematurely bid stocks higher to begin each of the next 2 years, only to regret it.
1934: After more than doubling in less than a year, the new bull market stalls following fresh highs in February 1934.
1937: A March top culminates an advance of nearly 5 years and 372% in the DJIA before the short but severe 1937-38 “Roosevelt Recession,” which saw industrial production fall faster than during 1929-32 and cut the Dow in half.
1946: A last thrust higher following a 10% February correction merely postpones the inevitable. The 129% DJIA gain in a span of more than 4 years culminating in a May 29, 1946 peak grossly understates the extent of the advance leading up to the high. The S&P does significantly better than that, and other averages leave the blue chips in the dust. Railroad stocks nearly triple, and the Dow Jones Utility Average quadruples.
1966: Another bull market launches in the second year of the decade, only to die in the 6th, as the Dow touches 1000 for the first time en route to a February 9, 1966 closing high.
1994: On February 2, the anniversary date that preceded the 1946 correction, and also in the 4th year of a bull market, stocks begin a 10% correction, as in 1946. This time, however, rather than quickly racing to a final top after the correction is over, the stock market trades in a narrow range throughout the rest of the year before busting out higher in 1995.
2001: The 1990s bull market amazingly lasts over 9 years, taking the NASDAQ Composite from a mere 325 to above 5000 in March 1990. After a run like that, the ensuing bear market wasn’t nearly complete despite a reflex rally in early 2005.
What Can be Learned?
Are there any lessons we can take from the 14 notable failures of the January Barometer described above?
Six of the examples (1902, 1903, 1917, 1930, 1931, 2001) involve false January rallies that developed in the early stages of bear markets. Clearly, we don’t fit into this category. The bear market following the late 1990s tech-stock mania bottomed on October 9, 2002. Our market attained its subsequent high-to-date just last month.
Could we have already seen the final top, or might the entire advance since 2002 represent nothing more than an elongated bear market rally? The latter possibility would be essentially unheard of, given the amount of time elapsed since the low. Nevertheless, bull markets have been known to expire in a shorter time than the 3 years and 3 months required to trudge to the January 11, 2006 closing highs in the DJIA and S&P.
Almost half of all previous misleadingly bullish Januarys came late in long or powerful bull markets, during the years (1906, 1929, 1934, 1937, 1946, 1966) of their final tops. The latter 3 such cases, like our present situation, all unfolded following “second-year lows,” but served up lengthier and more energetic advances than the 2002-06 bull market so far. The 2-month, 12% bounce in the S&P from its low last October 13 would represent an uncharacteristically brief and anemic concluding bull leg, especially anticlimactic on the heels of a flat year. Unlike 1946, 1965-66 and 1994, we haven’t seen a 10% market decline in some time. The largest correction the market could muster in 2005 was on the order of 7%. The less-than-stellar 52% maximum improvement in the closing price of the Dow since its October 9, 2002 trough is also tepid by bull market standards. As in 1942-46, the S&P is ahead of the DJIA, and broader indexes have crushed both blue-chip measures, but the S&P’s reluctance thus far to challenge its all-time high, unlike the Dow after it was similarly cut in half 100 years ago, further attests to the underachieving nature of the existing bull.
Still, this bull market is undeniably long in the tooth, and enough time remains in 2006 to set up a final top and then possibly stage a decline big enough to make a liar of The January Barometer for a 4th time in 6 years.
James Flanagan is a widely known specialist in the field of financial market forecasting and analysis. Using a proprietary, complete database of price history and the methods of W.D. Gann, he has been publishing his forecasts and investment research since 1990 (Past Present Futures newsletter). James oversees all of the research for the Financial, Stock, and Commodity Markets at Gann Global Financial. You can visit his website: www.gannglobal.com
View their website at: www.gannglobal.com
I hope you know how to differentiate a company that is out and a company that is down. We have discussed these in the past and you are welcomed to check it out at our commentary section. Today, though, we are going to talk more about reasons to buy company that is down.
Why should we as investors buy companies that are down? Why don’t we buy company that is out or company that is doing fine? Here are several reasons why:
Cheap. Company that is down usually sells at a discount. A company announces bad news and then the share price will drop as a result. If the company is solid and your long term picture has not improved, then the company that is down can be bought at a cheaper price than other similar companies.
Dividend. Company that is down normally has a long history of profitability. If the company is not in danger of going out of business, then it can continue paying its dividend to shareholders. Buying company that is down will give you higher dividend yield due to the drop in the share price. On the contrary, company that is out cannot afford to pay off dividend to shareholders.
Take Over Potentials. Companies would love to scoop up other companies at a low valuation. Company that is down normally have depressed share price while its core business remains intact. This is appealing to potential competitors. A lot of big investors and companies buy company on the cheap. For example, Carl Icahn the fame investor, bought Time Warner Inc. (TWX) cheap and he is trying to unlock values for the company.
High Potential Return. This is one reason investors should invest in companies that are down. The depressed share price will have a chance to recover once its short-term problem is sorted out. Company that is down normally have a low P/E ratio, many in the single digits.
It is crucial to know whether a company is down or out. There are a lot of companies selling at single digit P/E ratio, giving dividends and yet their survival is in question. These are companies that is out and not down. While, it might be difficult to identify, I can give you several examples of companies that are down: pharmaceutical companies, banking industry and companies selling hard drives. The demand for their business remains intact despite the short term downturn in the industry. However, each company within an industry is different as well. Please use the guidelines mentioned on the past article to differentiate company that is down and out.
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