Cross Posted at Mzalendo
World cup soccer fever ama you were busted on posting your story??? Was just wondering though Banks, i received info thta the brokers were rushing to credit nominee accounts on the kengen issue. I was just curious as to whether short selling exists back home, and if the brokers engage in it. Someone might be making a kiling just shorting kengen shares since they went live on NSE. Quik scenario – If they were to borrow nominee account shares, sell them at a higher price, wait for the price to fall and then repurchase them and credit the nominee accounts again.(of course they get to keep the spread between selling and buying back the shares) Who would ever know that the brokers might be enagged in short selling? i wish i could get to do it, might just set up a ka hedge fund for that purpose, one would stand to make a killing coz the market is so predictable !!
Great bunge storo; congrats!
Mashatall: For sure have WC fever since we can watch all games live and at decent time (unlike in 2002). As for Kengen, I have not received my IPO allocation yet. Brokers are swamped by account volumers and are are still crediting accounts – meanwhile Kengen is trading about 5 million shares daily
Some WC games air early morning in the US (which is evening in Kenya) but thank God for TIVO/DVR…Digital Video Recorder.
This is when my tom-boyness kicks in coz i haven’t missed a game since Friday.
Its also the only sport Mr.Nice & I watch 2gether coz NBA & NFL just don’t do it for me.
@mashatall trust me when i tell you brokers are making money big time. the spread they get from ignorant nominee account holders who dont keep tabs on their accounts is huge. Yet the NSE has done nothing about it but i also think not many people realize what is cutting or they refuse to mention the matter. All in all Its only in Kenya !@Banks i thought the session in Parliament would be boring but good article.
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