(no subject)
Jul. 7th, 2008 | 01:35 am
location: Не знаю,в лесу.
music: Burzum - Lost Wisdom
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(no subject)
Jul. 7th, 2008 | 01:28 am
music: Darkthrone-Transilvanian Hunger
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(no subject)
Jun. 7th, 2008 | 07:03 pm
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Мюзик.
Mar. 12th, 2008 | 12:39 am
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Оказывается....
Mar. 7th, 2008 | 02:29 pm
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Про пищу..
Mar. 3rd, 2008 | 12:11 am
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M>A
Feb. 17th, 2008 | 11:32 pm
mood:
optimistic
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О рекламе
Jan. 15th, 2008 | 01:07 am
mood:
energetic
music: Shiny Toy Guns - Le disco
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(no subject)
Jan. 9th, 2008 | 01:31 am
Don't worry about what anybody else is going to do… The best way to predict the future is to invent it. Really smart people with reasonable funding can do just about anything that doesn't violate too many of Newton's Laws!
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Экономическое..
Dec. 27th, 2007 | 01:46 pm
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Социальные сети.
Dec. 21st, 2007 | 02:00 pm
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Hyperion
Dec. 13th, 2007 | 11:17 pm
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Смотрю с высоты на оживлённую трассу и думаю.
Nov. 24th, 2007 | 06:29 pm
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Поедание мозга..
Nov. 12th, 2007 | 01:19 pm
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Tick ....
Nov. 12th, 2007 | 01:13 pm
Like the Jedi, the Day Traders have returned. Having all but become extinct in the low vol OIF [Operation Iraqi Freedom] bull market, the surviving Day Traders now enjoy multiple 2% intraday swings, 1% gaps and 2% per hour moves. Its like the good old days at the turn of the twentieth century when even beginner traders could follow intraday momentum and make bank. There's a definite shift in the market ecosystem favoring the fast movers. You really haven't heard much day trader talk at cocktail parties either. No one really seems to want to talk stocks anymore. That's a good sign.
The theory of evolution and theories of geological and climactic change seem to model slow moving change. But the reality is that evolution and climactic changes occur much more rapidly and with more abruptness than might seem due to the correlation effect in complex systems. When many inter-related nodes, previously uncorrelated, become correlated, whether due to stress or merely, as Alston Mabry pointed out, due to increased variance, there can be a massive and rapid shift in the system which would not be expected under a linear model. Evolution sees large regimes of mass extinction. Climate changes, ice ages, occur much more rapidly than thought.
The same might be true in financial markets. The assumption of continuity of prices itself is breaking down with the large regular gaps. The increased variance increases correlation, as pointed out in the discussions of currencies, equities, bonds, and global economics in an as yet to be quantified manner. Prior data histories provide limited guidance with numbers crossing into new territories. Rather than seeing separate exchanges and markets in different countries might the new paradigm be one big global interrelated market? What new relationships might be uncovered there? So much data, so little time.
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Я в шоке ..
Nov. 5th, 2007 | 11:36 pm
By Ying Lou
Nov. 5 (Bloomberg) -- PetroChina Co. almost tripled on its first day of trading in Shanghai, becoming the world's first company to be valued at $1 trillion, more than Exxon Mobil Corp. and General Electric Co. combined.
PetroChina shares rose to 43.96 yuan from the sale price of 16.7 yuan, giving the state-owned oil producer a greater market value than the entire Russian stock market.
The rally makes PetroChina shares four times more expensive than those of Exxon, even though China's biggest oil producer has a quarter of the revenue. China's stock market was valued at less than $1.1 trillion before tripling this year and giving the communist nation four of the world's 10 biggest companies, even after today's 5 percent tumble in Hong Kong stocks.
PetroChina's valuation is ``an indication of China coming of age and also of its stock market bubble,'' said Hugh Young, who oversees $50 billion at Aberdeen Asset Management Asia Ltd. in Singapore.
The oil producer's Shanghai listing pushes China's stock market beyond the U.K. as the world's third-largest. PetroChina trades at 55 times earnings, four times Exxon's ratio of 13 times earnings and near the 58 times for Google Inc., the world's most-used Internet search engine.
In Hong Kong, PetroChina fell 8.2 percent to HK$18. Exxon shares rose 0.7 percent to $87.93, valuing the company at $488 billion on the New York Stock Exchange.
`Sense of Responsibility'
``I feel very excited today and also feel a very strong sense of responsibility,'' Chairman Jiang Jiemin said at the Shanghai Stock Exchange. ``This is PetroChina returning to our investors and society.''
Jiang struck a gong as the market opened at 9:30 a.m., then toasted the start of trading with a glass of red wine.
China's largest oil and gas producer had 20.5 billion barrels of oil and gas reserves in 2006, compared with 22.1 billion for Irving, Texas-based Exxon, data compiled by Bloomberg show. PetroChina has been adding new reserves at an average annual rate of 5 percent for the past three years, a faster pace than Exxon, Royal Dutch Shell Plc and BP Plc, the world's largest oil companies by sales.
The share sale, the world's biggest this year, surpassed the 66.6 billion yuan raised by China Shenhua Energy Co. in September. PetroChina raised 66.8 billion yuan selling 4 billion shares last week as investors applied for more than 3.3 trillion yuan of stock, almost 50 times the amount PetroChina sold.
Record Oil
Those investors were until now prevented from directly buying PetroChina stock, missing out on a 15-fold surge as economic growth turned the nation into the largest oil consumer after the U.S. and as crude prices reached a record $96.24 a barrel in New York.
The CSI 300 Index of shares listed on the Shanghai and Shenzhen exchanges has increased about 170 percent this year as mainland Chinese investors seek returns on $2.3 trillion of savings, raising investor concerns that the market is too expensive.
Billionaire investor Warren Buffett's Berkshire Hathaway Inc. sold its stake in PetroChina this year, reaping an eightfold gain that contributed to a 64 percent increase in third-quarter profit for the Omaha, Nebraska-based company. Berkshire had 2.34 billion shares as of the end of 2006, the largest holding after state-owned China National Petroleum Corp.
Buffett said on Oct. 24 that Chinese share prices have risen too fast.
`Carried Away'
``It's easy to be carried away in the stock market when things are going very well,'' he said in the northern Chinese city of Dalian. ``We at Berkshire never buy stocks when we see prices soaring.''
Gains in PetroChina's shares in Shanghai may have more to do with Chinese investors seeking better returns than the outlook for the company's exploration and production operations, or its refining business, known as downstream, said Larry Grace, an oil analyst at Kim Eng Securities Co. in Hong Kong.
``Production is static with limited upside for the next three to four years,'' Grace said. ``As for the downstream, the price controls and overall regulatory trend limit the company's earnings.''
China controls fuel prices to shield consumers in the world's most-populous nation from accelerating inflation. The policy limits the ability of PetroChina and China Petroleum & Chemical Corp. to pass on the burden of higher crude oil costs.
The other Chinese companies that rank among the world's 10 largest by market value are China Petroleum, known as Sinopec, China Mobile Ltd., Industrial & Commercial Bank of China Ltd. and China Construction Bank Corp.
``A-share prices don't reflect global benchmarks of value,'' said Lorraine Tan, head of equity research at Standard & Poor's Investment Services in Singapore. ``There should be other measures of a company's position, including revenue and profitability. Market cap is not necessarily accurate.''
PetroChina's share surge means it beat by years a Russian pledge to create the world's largest company.
OAO Gazprom, Russia's natural gas export monopoly, would become the world's largest company by market value and top $1 trillion in ``seven to 10 years,'' Alexander Medvedev, the company's deputy chief executive officer, said in April. Gazprom's market valuation today is $296 billion.
To contact the reporter on this story: Ying Lou in Shanghai at
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Старый анекдот , но жутко нравится. Для тех кто понимает.
Nov. 4th, 2007 | 11:28 pm
Смотрит - студентик заснул, а на коленях книга:
" Ландау. Теория поля".
Мент хлопает студента по плечу и говорит:
- Вставай, агроном - приехали!"....
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Бойся предсказаний.
Nov. 4th, 2007 | 10:29 pm
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(no subject)
Oct. 27th, 2007 | 10:14 pm
библиотеку.
