On Sir Hillary McDonald Beckles KA

Submitted by Benny

Sir Hilary Beckles, Pro Vice-Chancellor, UWI

It has been repeatedly stated in the Press about the amount of money owed to the UWI by the Government. I would like it explained to the tax payers of Barbados how much the expansion at the University has cost the government in recent years. I am speaking of your philosophy of a graduate in each household. Since the Government pays the tuition for each first degree it is logical to conclude that more of the tax payers dollars are being pumped into your philosophy. Can it be explained to the people of Barbados if this was discussed with the government of the day when you conceptualise this philosophy as to how it will impact on the finances of this country?

I read again recently that you have decided to offer a part-time programme in law to persons with a first degree. This is no doubt an effort to enhance the income of the University because those who pursue this programme will have to pay. However, this programme has the potential to also impact on the finances of this country because the government pays for the tuition at the law schools.  Is there really a market for this amount of lawyers? The profession is already under serious challenge with young attorneys starting in some law firms for as little as $1,500.00 per month until they generate their own income. What will be the benefits to the wider society?

New Education for Development

Submitted by Looking Glass

UWI, Cave Hilll

Development in any language means change, a break with the past and is people oriented. National Development of which economic development is but a component is personal and qualitative. It depends on our ability to innovate, create and organize and requires an intellectual leap into the future. Resistance to such change is not so much a personal problem but a structural impediment created by the socio-economic system in general and the educational system in particular. In this context our educational system in its current manifestation becomes a repressive developmental factor.

In today’s world the foundation of economic growth and development is the function of human skill not foreign investment. In the world of technology fortunes are made not only in the manufacture off products but by inventing products and processes. Important factors include education and innovation. National development implies the power to create wealth which, in the final analysis depends on our ability to generate new ideas and to turn them into reality.

Here education is crucial. East Asian countries invested huge sums in education designed to facilitate economic growth and industrialisation; their forte product improvement and product creation. The Ivory Coast, a backward country at independence is today a wealthy country. Large sums were invested in education and agriculture rather than industrialisation, and government ensured the implementation and nurturing of programmes needed for development.

CARICOM STOCK MARKET REVIEW 2012

Compiled by the Department of Management Studies, UWI, Cave Hill

NEW LISTINGS AND DELISTINGS

There were a number of listings and De-Listings across the regional exchanges in 2012. On the Bahamas International Securities Exchange, Arawak Port Development was listed on April 23 2012. In Guyana, Rupununi Development Company Limited was listed on March 19 2012. In Jamaica, First Caribbean International Bank Jamaica, First Jamaica Investments Limited, Montego Freeport and Pegasus Hotels were De-listed, while on the main market Proven Investments was listed, and, Consolidated Bakeries, Paramount Trading Jamaica, C2W Music Limited and K. L.E. Group Limited were listed on the Junior Market. Supreme Ventures was De-listed from the Trinidad and Tobago Stock Exchange.

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WEEKLY CARICOM STOCK REPORT 10 December to 14 December 2012

Compiled by the Department of Management Studies, UWI, Cave Hill

Should You sell Those Shares To Finance Christmas Shopping?
In the two years we have been publishing this report, we have noticed an increase in share trading around the end of the year. This has led us to suspect that some investors may be liquidating their shares to help finance Christmas and New Year holiday expenditures. Is this a wise decision? Like so many things it all depends. In general, you should not use investment funds to finance consumption. If you are holding the shares as a means of financing some future expenditures like retirement, education and so on, then you should desist from liquidating shares to finance holiday related consumption expenditures. However, liquidating shares to help finance Christmas and New Year expenditures is generally a better financial decision than undertaking expensive hire purchases or neglecting to pay other bills. In general, I would suggest that you save over the course of the year to finance holiday expenditures, avoid debt to finance holiday expenditures, exercise moderation in holiday expenditures and if you must, then only finance holiday expenditures from the gains on your investments rather than liquidating your capital.

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WEEKLY CARICOM STOCK REPORT 3 December to 7 December 2012

Compiled by the Department of Management Studies, UWI, Cave Hill

Keep It Simple.
Keeping it simple in investing is not stupid. Seventeenth-century philosopher Blaise Pascal once said, “All man’s miseries derive from not being able to sit quietly in a room alone.” This aptly describes the investing process. Those who trade too often, focus on irrelevant data points, or try to predict the unpredictable are likely to encounter some unpleasant surprises when investing. By keeping it simple–focusing on companies with economic moats, requiring a margin of safety when buying, and investing with a long-term horizon–you can greatly enhance your odds of success.

 

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WEEKLY CARICOM STOCK REPORT 19 November to 23 November 2012

Caribbean Stock Report: Prepared by UWI, Cave Hill, Management Studies

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WEEKLY CARICOM STOCK REPORT 12 November to 16 November 2012

Compiled by the Department of Management Studies, UWI Cave Hill

Listen to Your Gut.
Any valuation model you may create for a company is only as good as the assumptions about the future that are put into it. If the output of a model does not make sense, then it’s worthwhile to double-check your projections and calculations. Use DCF valuation models (or any other valuation models) as guides, not oracles.

Know Your Friends, and Your Enemies.
What’s the short interest in a stock you are interested in? What mutual funds own the company, and what is the record of those fund managers? Does company management have “skin in the game” via a meaningful ownership stake? Have company insiders been selling or buying? At the margin, these are valuable pieces of collateral evidence for your investment thesis on a company.

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WEEKLY CARICOM STOCK REPORT 5 November to 9 November 2012

Compiled by the Department of Management Studies, UWI Cave Hill

Prepare for the Situation to Proceed Faster than You Think.
Most deteriorating businesses will do so faster than you anticipate. Be very wary of value traps, or companies that look cheap but are generating little or no economic value. On the other hand, strong businesses with solid competitive advantages will often exceed your expectations. Have a very wide margin of safety with a troubled business, but do not be afraid to have a much smaller margin of safety for a wonderful business with a shareholder-friendly management team.

 Expect Surprises to Repeat
The first big positive surprise from a company is unlikely to be the last. Ditto the first big negative surprise. Remember the “cockroach theory.” Namely, the first cockroach you see is probably not the only one around; there are likely scores more that you can’t see.

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WEEKLY CARICOM STOCK REPORT 29 October to 2 November 2012

UWI, Cave Hill,Barbados

Investing School (Be Brave and Don’t Follow Fashion)

One of the most enduring realities in investing is the fact that most small investors seem to end up buying stocks at the top of the market and selling at the bottom.  One of the major reasons for this is the fact that investors seem to let their emotions dominate when making investment choices. Two emotions in particular seem to dominate when making investment decisions:: fear and following the crowd.

First, let’s talk about following the crowd, what West Indians call “follow fashion.” The adverse effect following fashion has on investment results is rather straightforward. When a person sees others do well in an asset class or stock, he or she decides to jump on the bandwagon and buy some too. What tends to happen is that by the time “follow fashion” people invest in the stock, the stock’s price has ran up so much that it has become overvalued. Of course, the bubble eventually breaks and people that bought at the top lose a lot of money.  “Follow Fashion” people end up buying at the top of a bubble.

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CARIBBEAN STOCK REPORT 22 October to 26 October 2012

Compiled by the Department of Management Studies, UWI Cave Hill – Click image to read in PDF

Solid gains on manufacturing stocks drove the major Caribbean indices higher during the week ended October 26. For the week, 3,963,727 shares valued at $4,418,471 crossed the floors of the six stock exchanges across Caricom, with 43 stocks advancing, 36 declining and 44 remaining unchanged. Caribbean Producers was the volume leader with 719,093 shares being traded, Ciboney posted the largest gain for the week (12.32%), while on the losing end, Caribbean Cement fell (10.16%).

For the week, thirteen of the CSX 30 stocks advanced, eleven declined and six were unchanged. The CSX 30 gained 2.79 points to close the week at 1,404.27, up 6.79% year to date. In the CSX 30 there were gains for Wibisco (5.47%), Mayberry (3.17%) and scotia Group Jamaica (1.59%). On the negative side, Caribbean Cement fell (10.16%), NCB Jamaica (6.08%),CW Jamaica (4.78%), Guardian Holdings (3.68%), Desnoe & Geddes (2.12%) and Grace Kennedy (1.17%).

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WEEKLY CARICOM STOCK REPORT 24 September to 28 September 2012

Compiled by the Department of Management Studies, UWI Cave Hill

The weakness in Caribbean stock in 2012 continued as the major indices ended the week of September 28 lower.  The major indices were dragged down by losses on manufacturing and financial companies, however, there was some respite for investors on the Junior markets as that index ended the week in positive territory.  For the week,  22,767,153 shares  valued at $6,298,829 crossed the floors of the six stock exchanges across Caricom, with 22 stocks advancing,  59 declining and 43 remaining  unchanged.  JMMB was again the volume leader with 14,556,430 shares being traded, C&W Jamaica posted the largest gain for the week (9.56%), while on the losing end, Bank of Nevis fell (23.53%).

For the week, six of the CSX 30 stocks advanced,  seventeen declined and seven were unchanged.  The CSX 30 lost 1.98 points to close the week at 1,388.18, up 5.57% year to date.    In the CSX 30 there were gains for CW Jamaica (9.56%), Carreras (1.26%) and Scotia Bank TT (1.01%).  On the negative side, Desnoe & Geddes fell (6.53%), Guardian Holdings (3.13%), Scotia Group Jamaica (1.73%) and Lascelles (1.28%).

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WEEKLY CARICOM STOCK REPORT 17 September to 21 September 2012

Compiled by the Department of Management Studies, UWI Cave Hill – Click image to read in PDF

The recent rally on Caribbean stock markets was brought to an abrupt end as Caribbean stocks ended the week of September 21 lower. The major indices were dragged down by losses on financial companies. For the week, 20,196,651 shares valued at $7,156,122 crossed the floors of the six stock exchanges across Caricom, with 40 stocks advancing, 42 declining and 42 remaining unchanged. JMMB was the volume leader with 4,952,245 shares being traded, Lasco Financial posted the largest gain for the week (16.60%), while on the losing end, Caribbean Cement Producers fell (15.30%).
For the week, twelve of the CSX 30 stocks advanced, twelve declined and six were unchanged. The CSX 30 lost 3.63 points to close the week at 1,390.16, up 5.72% year to date. In the CSX 30 there were gains for Desnoe & Geddes (9.50%), Mayberry (1.59%) and Lascelles (1.38%). On the negative side, Caribbean Cement fell (15.30%), Banks DIH (9.21%), CW Jamaica (8.55%), Guardian Holdings (3.46%), Scotia Group Jamaica (2.77%), and NCB Jamaica (2.34%).

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WEEKLY CARICOM STOCK REPORT 3 September to 7 September 2012

Compiled by the Department of Management Studies, UWI

Solid gains on Conglomerate, Manufacturing and Banking stocks saw the CSX 30 extend its rally from last week and end the week higher, while the Junior Market returned to negative territory. For the week, 8,325,163 shares valued at $3,230,566 crossed the floors of the six stock exchanges across Caricom, with 41 stocks advancing, 39 declining and 44 remaining unchanged. Jamaica Money Market Brokers was again the volume leader with 1,284,631 shares being traded, Lascelles posted the largest gain for the week (32.69%), while on the losing end, Lasco Manufacturing fell (8.00%).

For the week, fourteen of the CSX 30 stocks advanced, ten declined and six were unchanged. The CSX 30 gained 23.83 points to close the week at 1,386.46, up 5.43% year to date. In the CSX 30 there were gains for Lascelles (32.69%), Scotia Group Jamaica (6.48%), CW Jamaica (4.54%), Desnoe & Geddes (3.94%), Grace Kennedy (3.72%), Republic Bank (2.37%), Ansa Mcal (1.44%) and NCB Jamaica (1.13%) and Neal & Massey (1.09%).

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