Words from the (investment) wise for the week that was (Aug 4 – 10, 2008)

August 10, 2008 3:00pm by

The Olympic Games kicked off at 8:08:08 pm on Friday night, the eighth
day of the eighth month of 2008. Coincidence? Not at all. The number
eight is considered lucky by the Chinese, because in Cantonese (the
language of South China) the word for prosperity is “fa”, which sounds
like “ba” (eight).

Let the gains begin. Fortune also smiled upon stock markets, with the
S&P 500 Index scoring its first back-to-back weekly gain since
April as the US dollar rallied strongly and oil and commodities
plummeted. The S&P 500’s gain since the low of July 15 has been
6.7%, with the Financial SPDR up by 27.8%.

Continued here . . .

http://www.investmentpostcards.com/2008/08/10/words-from-the-investment-wise-for-the-week-that-was-aug-4-%E2%80%93-10-2008/

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  2. Estragon commented on Aug 10

    FYI, the continue link appears to be broken.

  3. Bob Markman commented on Aug 10

    Fascinating. I love how these delightful Brits can call each other liars and dolts with such grace, good humor, and general equanimity. Would be nice to see more extended conversations like this on CNBC US.

  4. haileris commented on Aug 10

    The article gives the pronunciation in Mandarin, which isn’t all THAT close (the number 4 is a homonym of death in both Cantonese and Mandarin, though).

    In Cantonese, 8 is pronounced like “baht” and wealth is pronounced “faht”.

    It’s so culturally significant, that getting cell phone numbers is a VERY BIG DEAL. Numbers with four have a significant discount and numbers with eights have a significant premium. Vendors display whiteboards with cell phone numbers and corresponding sale prices next to them.

  5. Steve Barry commented on Aug 10

    It’s so culturally significant, that getting cell phone numbers is a VERY BIG DEAL. Numbers with four have a significant discount and numbers with eights have a significant premium. Vendors display whiteboards with cell phone numbers and corresponding sale prices next to them.

    I’m so glad we are counting on these guys to keep the global economy going.

  6. haileris commented on Aug 10

    Steve Barry: It may make you even more uncomfortable that you and I count on the premiere world economic and military superpower, led by a bunch of superstitous wackjobs who don’t have the 13th floor in any of their buildings. Seriously, be a bit more cosmopolitan with cultural difference here.

  7. rudy_d commented on Aug 10

    Chill out, haileris. You informed everyone of a cultural idiosyncrasy that I’m sure many weren’t aware of, and steve barry made an amusing and astute observation. I don’t think it makes one cosmopolitan to take another (or one’s own) culture’s silly superstitions seriously.

    It is very funny that the global economy is riding on the backs of an authoritarian, socialist country that recently embraced free markets, and one that loves to talk about freedom and open markets is increasingly authoritarian and socialist.

  8. Steve Barry commented on Aug 10

    Rudy d,

    Love your response…you get it…I should add that it’s the same country where the average worker makes $3000 a year and it’s hard to breathe outside. I went to Beijing and Shanghai a few years back…besides walking up the Great Wall, and biking to Tiennamen Square, I’ll remember the smog and the citizens chasing us to sell us $1 postcards…oh and Silk Alley where everybody bought bootleg North Face jackets.

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