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Interesting statistic 9/09/2014
GDXJ- NAV up $.50 today or 1.34%
GDXJ -Market close up $1.19 or 3.19%
Fascinating. I was not aware of the capital restrictions in India although most of us here are well versed in the restrictive environment for Chinese investors. Their options are real estate, precious metals, Wealth Management Products or local stock exchanges. But it is dimmer and even more restrictive elsewhere. A similar situation of lack of options exists in East Africa. The wish list for many smaller developing business’s here is to have mere access to US Dollar accounts and internationally accepted Visa and Mastercard! Shopping from this part of the world is a real challenge for those with no outside connections and so it is the foreigners living here who often seem to have the most freedom and access to capital markets and Western credit facilities. I do not know a single person here (for example) who has a stock market trading account. Not even one. I only know of a handful who possess a credit card that can be used internationally. Even Paypal is a mystery to many as I have discovered. The folks who do have access are invariably the diaspora who have returned home from abroad and have two passports or people like myself who were born in North America. This is surely one thing we Westerners take for granted. We do have the ability to trade and invest across multiple electronic platforms and jurisdictions without the restrictions that others face. Day by day I show my wife what I am up to in the trading world and I have been trying to teach her gradually what I know of technicals and all the various markets. She has been just dumbfounded by what we all take naturally as a God given right. Until she met me she had no idea whatsoever about stocks, bonds, currencies and commodities. I was even more dumbfounded that even people trained in economics and business here had little more than a faint inkling of what takes place in capital markets behind the scenes. So there really is a great divide in this world between those who know something and those who are not armed with even the most rudimentary tools. Not one single bank here offers investors a trading platform. Not even one brokerage exists to my knowledge. All of that comes from back home and overseas. This is how the poor stay poor and even those who are very successful in business remain in the dark. We live in a very strange world of haves and have nots.
Yes we certainly do, Bird.
I am curious, how did you end up in Africa? Were you involved in the investment community before you moved?
I am truly interested.