Chilean stock market hits 3 year high, what the hell?

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Re: Chilean stock market hits 3 year high, what the hell?

Postby admin » Mon Nov 21, 2016 11:49 am

yea, I think this is another case of very fine web designers striking again. Their web site just went down and reset to Friday's prices.
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Re: Chilean stock market hits 3 year high, what the hell?

Postby admin » Mon Nov 21, 2016 11:59 am

that is got to be the mother of all IT screw-ups. Now it looks like the Chilean stock market just crashed 7%.
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Re: Chilean stock market hits 3 year high, what the hell?

Postby admin » Mon Nov 21, 2016 12:34 pm

admin wrote:oh shit....

La Bolsa de Santiago informó que los índices IPSA, Inter 10, IGPA, Industrial e IGPA Mid presentaron valores erróneos hasta las 11.38 horas de hoy lunes 21 de noviembre, debido a que en el cálculo automático de dichos índices que se realiza al inicio de cada día, y que incorpora las variaciones de capital de las acciones componentes de los índices, se incorporó erróneamente en dicho cálculo la emisión de acciones de la acción LAN, cuyo valor es en dólares y no en pesos.

Para resolver dicha situación, la Bolsa debió suspender la negociación de acciones por un lapso de seis minutos.


They calculated the price of LAN shares in dollars, not in pesos, and LAN was something like 25% of the weighting in the stock market.

If by the end of the day, anyone is still working in the IT department at the bolsa, then everyone should be fired.
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Re: Chilean stock market hits 3 year high, what the hell?

Postby admin » Mon Nov 21, 2016 12:35 pm

https://www.df.cl/noticias/mercados/bol ... 22136.html

¿El IPSA se disparó 7%? No, todo fue un error
Nunca se trató de una fiebre compradora.
BOLSA 21/11/2016
Por Diario Financiero Online
Ver que la Bolsa de Santiago sube 7% es bien
extraño, más en semanas de incertidumbre tras el
triunfo de Trump y/o la lectura sobre las
declaraciones de la Reserva Federal.
Bueno, eso justamente sucedió en la mañana pero
no precisamente por una fiebre compradora. Lo que
sucedió fue un error.
Según explicaron desde la Bolsa de Comercio de Santiago los índices IPSA, Inter 10, IGPA,
Industrial e IGPA Mid presentaron valores erróneos, ya que el cálculo automático que se
realiza al inicio de cada día, y que incorpora las variaciones de capital de las acciones
componentes de los índices, se incorporó erróneamente en dicho cálculo la emisión de
acciones de la acción LAN, cuyo valor es en dólares y no en pesos.
Para resolver dicha situación, la Bolsa debió suspender la negociación de acciones por un
lapso de seis minutos. Cuando se volvió a la normalidad, el IPSA apenas subía 0,2%
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Re: Chilean stock market hits 3 year high, what the hell?

Postby Space Cat » Mon Nov 21, 2016 12:59 pm

I wonder if there is any money in migrating small-to-medium sized sites to some modern stable and well-designed platform.

.CL is a huge mess due to the size of the country's out-of-Facebook Internet population. Even lider.cl doesn't work without www.

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Re: Chilean stock market hits 3 year high, what the hell?

Postby admin » Mon Nov 21, 2016 1:14 pm

yea, that is a function of understanding how to redirect a www to just a domain.tld on a server, which is likly just another case of the incompetence of the IT people bread and raised on microsoft servers, asp and flash. They don't teach them how to do anything else at the universities in chile, because the teachers don't know anything else, due to the Chilean goverment being bought out by Microsoft a decade or two ago.

This one however, causing the suspension of countries stock market, beats the screw-up a few years back where the boarder gateway routers in China were allowed to route almost all the international traffic for .cl through their routers. It went on for like 3-4 months. I spotted it in the first days, kind of shrugged my shoulders, and figured someone would see it sooner rather than later. like 4 months later, some moron at nic chile was getting patted on the back for discovering it.
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Re: Chilean stock market hits 3 year high, what the hell?

Postby admin » Tue Nov 22, 2016 9:39 am

well, yesterday, in spite of a reset of the stock market index in mid-morning, the market end up like 1.10%. This morning it opened up 0.80%. Now, let's see if they fixed the glitch.

I bet, what really happened, is some one entered a comma, rather than a period, for the decimal point (reversed in Spanish numbers). Someone else, failed to sanity check their code to catch the error.

Almost as bad as the American scientist that failed to convert feet to meters, causing that probe to crash in to Mars a few years back.
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Re: Chilean stock market hits 3 year high, what the hell?

Postby Jaggg » Wed Nov 23, 2016 9:50 pm

admin wrote:I dump an investment that does not returning more than 3% a month, let alone a year. I have better places to put my money, if there is not something like a 25% upside. You can open an apple cart on the street corner and do better. What the hell are these guys investing in?


Can you make an index fund of you? I'll be glad If I can get just 0.6% monthly hahahaha.

Anyway, Chilean stock market is finally catching on with other markets. For almost five years it was highly undervalued to the level of risk this country has.

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Re: Chilean stock market hits 3 year high, what the hell?

Postby MJSaywell » Thu Nov 24, 2016 2:55 pm

Look at Copper, 2.60 still holding up

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Re: Chilean stock market hits 3 year high, what the hell?

Postby admin » Fri Nov 25, 2016 10:50 am

Jaggg wrote:
admin wrote:I dump an investment that does not returning more than 3% a month, let alone a year. I have better places to put my money, if there is not something like a 25% upside. You can open an apple cart on the street corner and do better. What the hell are these guys investing in?


Can you make an index fund of you? I'll be glad If I can get just 0.6% monthly hahahaha.

Anyway, Chilean stock market is finally catching on with other markets. For almost five years it was highly undervalued to the level of risk this country has.


Here is the index I use:
https://www.amazon.com/Intelligent-Inve ... 0060555661

I try to stick to pretty closely to rules in the "Intelligent investor", and just about every time I have strayed significantly from those basic principles I get my rear handed to me in a big way. I like to find a sector or industry that has been completely slapped down by the market, ideally with no good intrinsic reason, then go looking for the houses that are singed but still not on fire. In other words, the companies that have a big pile of liquid cash or cash flow to weather the storm, ideally paying dividend.

Index funds are fine, but I prefer not to buy the garbage with the winners. I often will go through the companies in say a sector index fund, look at their reports, and pick out a segment of the best ones, then buy those companies individually. Basically, build a more refined index of the index, rather than depend on just a formula such as market cap weighting or something.

For instance, the IPSA. I have this ETF / Muetual fund that tracks the the IPSA:
http://www.bolsadesantiago.com/mercado/ ... CFMITNIPSA

It is up like 15% this year, I am not really happy with it, but it keeps going up so I am willing to play along for now.

However, I also own individual components of biggest, and at least what I think are the best run of the Chilean companies, that move the IPSA more than others. I own things like Lan, Fallabella, Copec, Parque Arauco. Things that due to both their weighting, and fundamental business, are throwing their weight around and moving the IPSA day in and day out. For example, I own Parque Arauco but I don't for instance own CENCOSUD their competitors, even though they have both gone up like 40%+ this year, because I think they run their biz like crap, and everyone I have ever known that works for them has told me they are a disorganized mess internally. I also try to focus on companies in Chile that have expansion plans in to the neighboring markets or internationally. Especially ones that been beaten down over the last few years, but none the less kept buying say things in Peru, Colombia, and so on. Chile is just too small for any big long-term growth alone to be generated, but does provide relative stability for companies sticking their big tow in to less stable neighboring markets.

Kind of the nice thing in Chile, what you see is often what you get, as a consumer and investor. If for instance you have consistent problems at their stores, good chance that is just reflection of how bad the management really is running the rest of the company. I might be totally wrong about them all over time, but so far so good.
Spencer Global Chile: Legal, relocation, and Investment assistance in Chile.
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From USA and outside Chile dial 1-917-727-5985 (U.S.), in Chile dial 65 2 42 1024 or by cell 747 97974.

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Re: Chilean stock market hits 3 year high, what the hell?

Postby Jaggg » Tue Jan 03, 2017 11:27 pm

admin wrote:
Jaggg wrote:
admin wrote:I dump an investment that does not returning more than 3% a month, let alone a year. I have better places to put my money, if there is not something like a 25% upside. You can open an apple cart on the street corner and do better. What the hell are these guys investing in?


Can you make an index fund of you? I'll be glad If I can get just 0.6% monthly hahahaha.

Anyway, Chilean stock market is finally catching on with other markets. For almost five years it was highly undervalued to the level of risk this country has.


Here is the index I use:
https://www.amazon.com/Intelligent-Inve ... 0060555661

I try to stick to pretty closely to rules in the "Intelligent investor", and just about every time I have strayed significantly from those basic principles I get my rear handed to me in a big way. I like to find a sector or industry that has been completely slapped down by the market, ideally with no good intrinsic reason, then go looking for the houses that are singed but still not on fire. In other words, the companies that have a big pile of liquid cash or cash flow to weather the storm, ideally paying dividend.

Index funds are fine, but I prefer not to buy the garbage with the winners. I often will go through the companies in say a sector index fund, look at their reports, and pick out a segment of the best ones, then buy those companies individually. Basically, build a more refined index of the index, rather than depend on just a formula such as market cap weighting or something.

For instance, the IPSA. I have this ETF / Muetual fund that tracks the the IPSA:
http://www.bolsadesantiago.com/mercado/ ... CFMITNIPSA

It is up like 15% this year, I am not really happy with it, but it keeps going up so I am willing to play along for now.

However, I also own individual components of biggest, and at least what I think are the best run of the Chilean companies, that move the IPSA more than others. I own things like Lan, Fallabella, Copec, Parque Arauco. Things that due to both their weighting, and fundamental business, are throwing their weight around and moving the IPSA day in and day out. For example, I own Parque Arauco but I don't for instance own CENCOSUD their competitors, even though they have both gone up like 40%+ this year, because I think they run their biz like crap, and everyone I have ever known that works for them has told me they are a disorganized mess internally. I also try to focus on companies in Chile that have expansion plans in to the neighboring markets or internationally. Especially ones that been beaten down over the last few years, but none the less kept buying say things in Peru, Colombia, and so on. Chile is just too small for any big long-term growth alone to be generated, but does provide relative stability for companies sticking their big tow in to less stable neighboring markets.

Kind of the nice thing in Chile, what you see is often what you get, as a consumer and investor. If for instance you have consistent problems at their stores, good chance that is just reflection of how bad the management really is running the rest of the company. I might be totally wrong about them all over time, but so far so good.


Im thinking to go into CFMITNIPSA, but I'm not quite sure about the stock market in 2017. If Guillier get steam is going to hurt the IPSA.

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Re: Chilean stock market hits 3 year high, what the hell?

Postby admin » Wed Jan 04, 2017 6:49 am

nay he is a muppet.

There are bigger drivers going on the Chilean economy than the just the domestic politics, and the election is a long ways off even if it does.
Spencer Global Chile: Legal, relocation, and Investment assistance in Chile.
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From USA and outside Chile dial 1-917-727-5985 (U.S.), in Chile dial 65 2 42 1024 or by cell 747 97974.


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