Money Matters: Firstline Securities Blog

THE FOOTBALL BUS ATTACKER: NOT ISIS, JUST PLAIN OLE GREED

21 April 2017

A Firstline Securities Limited Blog by: Dalia King

Last month, Firstline team member, Jon, reported on the potential for short selling in the T&T market.  He said: “If short positions suit your objectives, desired risk-return profile and other investment criteria, then ask your broker-dealer about their willingness to arrange options.”
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OIL PRICES…WHERE ARE THEY GOING?

18 April 2017

A FIRSTLINE SECURITIES LIMITED BLOG BY: PHIL

OPENING SALVO

Firstline’s Thrill Mr. Phil, did his Elliot Waves technical analysis of the crude oil commodity market in September 2014 and reported then that while oil was trading over $90 per barrel, there was going to be a collapse in the market and oil prices should fall below $45 per barrel. I need not tell you how hearty a laugh most of us had back then. The rest is history. Here he goes again!

Before giving my current view, I shall provide a very brief background to the technical analysis technique used to analyse the crude oil market.

 

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A SORROWFUL TALE OF FALSE ACCOUNTING & MAJOR NUCLEAR MELTDOWNS

11 April 2017

The Problems continue to mount for Toshiba

Last Thursday (March 30, 2017) shares in Toshiba fell in value by over 26%, representing Toshiba’s biggest one-day dive in share price in over 40 years. This fall in share price was triggered because of concerns over huge write downs with respect to the company’s nuclear business in the United States, and compounds the problems that occurred in 2015 regarding the announcement of false accounting practices adopted and pursued by Toshiba over an extended period of nearly eight years.

A Firstline Securities Blog by: Mike

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UNDERSTANDING SECURITY VALUATIONS: A BRIEF OVERVIEW

3 April 2017

News of the financial markets grace our electronic media devices each and every day, and one thing that is certain is that there is volatility. Do you understand the intricacies of arriving at a price for a commodity, a security, a company, a Fund? Today’s blog explores some of the methods

A FIRSTLINE SECURITIES LIMITED BLOG BY: MAXINE KING

I visited Disney World for the first time, in mid-2016. With great apprehension and extreme uncertainty, I joined the line for my first ride (see above) and soon enough found out there was no turning back. The line was long and my anxiety mounted, culminating in a ride which started and ended, before I could say “Jack Robinson”. I could not help but think, as I clutched the sides of the roller coaster, practised deep breathing and  treated my eyes like a shutter, on that man-made mountain side, that I was crazy enough to pay for pain, uncertainty, and risk  and that this was the last ride I was taking in this week long stay at Disney. Like a masochist, I went back repeatedly, to experience the surges, the tumbles, the ups and the plummeting downs!

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THE TRUMPCARE FALLOUT

27 March 2017

A Firstline Securities Limited Blog by: Thomas Verguet

 

A big blow to the Republican agenda happened this past Friday (24th March, 2017) with the failure of the bid to replace and repeal the Affordable Care Act, as not enough votes were mustered to pass President Trump’s Health Care bill through the Congress floor.

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RAIDING THE HONEY POT ON BAD NEWS FRIDAY

24 March 2017

A Firstline Securities Limited Blog by: Mike

Last Friday the Ministry of Finance released the long-awaited, and perhaps depressing news, that a second withdrawal from the HSF would be made at some point this week in the amount of US$251 billion. We look at this withdrawal in the climate of falling oil prices as the American Petroleum Institute reported a bigger than expected rise in US oil inventories causing a fall in Brent to just above US$50 per barrel. With the Minister still not having set a date for the 2017 mid-year budget review (usually held in the second week of April) we might all ask – What’s next?

 

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FIRST CITIZENS’ APO EXTENDED!

22 March 2017

 

Hi everyone!

Great news – the First Citizens Additional Public Offering (APO) has been extended by two weeks: from Friday 24th March, 2017 to Friday 7th April, 2017!

This means that you have more time to get your share applications in – and the Firstline Securities team is here and ready to facilitate this for you! Read more…

THE RISK VERSUS REWARD HIERARCHY

21 March 2017

A Firstline Securities Limited Blog by: Jody Hernandez

Generally speaking, you may need to consider accepting more risk if you want to pursue higher returns. If you decide to seek those potentially higher returns, you face the possibility of greater losses, including some or even all of your investment.

The longer you invest, the more time that riskier investments, such as equities, have to recover from any falls. Bear in mind, however, that long-term investing does not guarantee that you will meet your investment objectives.

Based on this historic performance, investment professionals tend to rate the different types of investments according to a risk/return hierarchy. This generally means that if you want greater rewards, you may need to accept greater risk. Read more…

The First Citizens’ Additional Public Offering – March 2017

15 March 2017

The First Citizens’ Additional Public Offering:
March 13 – March 24, 2017

Following the Government of Trinidad and Tobago’s announcement that it intends to sell an additional 25% of its shares in First Citizens, the bank has officially launched an Additional Public Offering (APO) this Monday, March 13, 2017.

See below for the details:
Offer Size:      48,495,665 shares at TT$32.00 per share for a total consideration of  TT$1,551,861,280

Opening:         March 13, 2017

Closing:          March 24, 2017

Allocation:     April 25, 2017

The announcement, prospectus, as well as the purchase application forms can be found here. Read more…

Short Selling in Trinidad & Tobago

15 March 2017

A Firstline Securities Limited Blog by: Jonathan Wilson 

 

Ever wondered why there is no short selling on the Trinidad & Tobago Stock Exchange (TTSE)?   Read on to learn about short selling’s current place on the TTSE; how it can deepen the securities industry; the way in which its regulation protects investors, and what determined investors may do right now to hedge, manage or profit from portfolios in this manner!

I regularly recommend the film The Big Short (2015); a comedy-drama adapted from the financial non-fiction novel by author Michael Lewis. In the movie, a handful of investors predict the 2007-2008 subprime mortgage crisis and eventually make a killing by betting against the American housing market.

It may be very long before these investors’ credit default swaps or other such derivatives are on local markets. Nonetheless, I question investors’ abilities to short on the Trinidad and Tobago Stock Exchange. Can local contrarians express themselves beyond buy, sell or hold? Read more…

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