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Friday, June 02, 2006

Friday Stock Update and War Quotes

STOCK UPDATES: Earlier this week I mentioned Peregrine Pharmaceuticals (PPHM) progress with bavituximab (formerly Tarvacin) in the fight against the H5N1 bird flu virus. Today Indonesia's Antara News Service announced a possible case of human-to-human transmission of H5N1. A nurse apparently treated her siblings and they later died of the bird flu. The nurse claims to have had no contact with poultry, difficult to imagine in a country that consumes so much chicken. She certainly had direct contact with her siblings who apparently had contact with chickens. In any event Peregrine Pharmaceuticals stock soared 17%, along with the stocks of several other firms working on bird flu vaccines.

The Bombay Stock Exchange saw the second biggest gain in its long history today. The SENSEX index went up 380 points. The only larger Bombay SENSEX increase was 426 points back in 1992. This impacted ICICI Bank (IBN) shares along with funds like Blackstone's India Fund (IFN) and Morgan Stanley's India Investment Fund (IIF). The BSE has been sailing in choppy waters over the past few weeks but basically mirroring the international markets, except valued in rupees instead of dollars.

Bank of America (BAC) remains strong but it really does pay a fair dividend for shares priced under $50.

Brazil's BOVESPA and Mexico's BOLSA turned around to lend support to stellar funds like T Rowe Price's Latin America fund (PRLAX), Fidelity's (FLATX), and Merrill's (MALTX). It goes to show you that diversification into international markets is worth the bumpy ride if you stay in for years, not days.

(Note: The author may hold shares in some of firms/funds mentioned above at some point during any given year.)

The American people will not relish the idea of any American citizen growing rich and fat in an emergency of blood and slaughter and human suffering. - Franklin D. Roosevelt

I still remember the effect I produced on a small group of Galla tribesmen massed around a man in black clothes. I dropped an aerial torpedo right in the center, and the group opened up like a flowering rose. It was most entertaining. - Vittorio Mussolini

They wrote in the old days that it is sweet and fitting to die for one's country. But in modern war there is nothing sweet nor fitting in your dying. You will die like a dog for no good reason. - Ernest Hemingway

When civil dudgeon first grew high.
And men fell out, they knew not why;
When hard words, jealousies and fears,
Set folks together by the ears,
And made them fight, like mad or drunk,
For dame Religion as for punk;...
- Butler, Hudibras

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