Tuesday, October 07, 2008
They are selling the farm for nothing
The current panic selling on TASE means that people is ready to sell valuable property really cheap. Israel Chemicals is selling under its worth and at five times the estimated annual profit. There is no war and no epidemy, people will keep working and producing, so there is no reason why things should be on fire sale. The credit crunch is psychological, since the legal framework securing the repayment of loans exists and is working, and cash can easily be loaned out good interest rates and fully secured. The people who first shakes off the panic will profit mightily. I for one am buying Koor.