Who would have thought financial stability = Iraq!

Monday, October 13, 2008
Iraq an oasis of calm in unstable financial world
Small, relatively isolated exchange has kept a steady upward trend as security in the county has improved.
Kim Gamel / Associated Press

BAGHDAD — While the rest of the world is facing a financial meltdown, the Iraq Stock Exchange is booming.

The ISX index soared nearly 40 percent during September, boosted by increasing confidence in security gains.

The ISX is only open two hours a day, three days a week and brokers track trading activity on the floor with colored markers and white bulletin boards instead of computers. But investors are seeing gains, especially in the hotel sector, even as markets elsewhere are taking a tumble.

“I don’t think that the current financial crisis will hurt our economy and especially this market because we are not connected to any of the global markets and we have very few foreign investors,” said Omar Mouwaffak, a 73-year-old trader resting on a bench along the wall.

Foreigners comprise less than 3 percent of the daily volume, officials said, but with the improving security situation on the ground and a lack of attractive options elsewhere investors hope that could change.

“I think that some foreign investors who are afraid to pump their money in the affected economies will pump their money in here, though not necessarily huge amounts,” said Salam Hassan Jawad, a 44-year-old trader and father of two, standing in the hall with two cell phones in his hands.

Iraq has 95 Iraqi companies listed and a daily volume of $1 million to $2 million.

Yea Iraq!

Maybe we should invest our money there

y invest money there when we need to stable our gov .. here our stock markey has crashed and it hasnt been this worse sense the great depression

Sure made a comeback today:

Quote :

The Dow leapt 936.42 points, or 11.1%, to 9387.61. The rally ended an
eight-day slide in which the blue-chip measure plummeted almost 2,400
points and endured the worst full-week performance in its 112-year
history.

detroitwings82 wrote:

y invest money there when we need to stable our gov .. here our stock markey has crashed and it hasnt been this worse sense the great depression

If the stock market is so bad;


How come it was still at 9,000 points


In the 80s; it was like 1,000 points


Even if you adjust it for inflation; it still ahead


When you start seeing brokers jumping out of windows; then we will have hit rock bottom

I'm thinking I need to move there....