Monthly Archives: June 2007

Revisiting CARITAS

It may still be vivid in many investors’ minds the game of the century, ‘Caritas’, the Ponzi* scheme of the early 1990s in Romania. It was owned by Ioan Stoica and attracted over 400,000 investors who gambled over 1 billion dollars because it promised to repay 8 times the amount invested. Although Caritas lasted for [...]
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Sentimental Rupee

INR touched our anticipated level near 40. This is what we said on December 4, 2006, “The currency is headed down to 43 and lower, despite what the RBI does, despite macroeconomic conditions, despite the seasoned trader”. When we hit 43, we carried the other rupee update on Apr 2 saying, “The long term trend [...]
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Credit Bonanza! Is it?

Emerging Market Series, Eastern Europe, Romania So it finally happened. The BNR (Central Bank of Romania) decided to drop the minimum requirement barrier and allow the banks to decide based on their credit system evaluation what the population’s level of debt should be. Additionally, the banks will determine what will be the minimum down payment [...]
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