Global IPOs 2006, by dollar volume

Continuing on our international theme from yesterday, there was a fascinating piece of infoporn in today’s NYT: IPOs by Country/Financial Capital.

Note the top 6:


1. Hong Kong
2. London
3. NY (NYSE)
4. NY (NASDAQ)
5. Amsterdam (Euronext)
6. London (AIM)

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0116bizwebhongkong
Graphic courtesy NYT

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If you combine various locales, you get some interesting data (NYSE + Nasdaq, Hong Kong + Shanghai,
London + London AIM)

NYTimes Ubiq-cerpt:™:

Hong Kong and Shanghai are not just competing with each other — they are also vying with Tokyo and Singapore to become the most important financial center in Asia. Each wants to be the place where investment banks, hedge funds, insurance companies and other big investors send their best and brightest to oversee trading during the hours after the sun sets in New York and before it rises in London.

Each city has its strengths. Tokyo has the region’s largest stock and bond markets, although they have attracted less attention lately because they lack the appeal of the Chinese economic boom. Singapore is the main center for trading oil and other energy products, and is an important hub for currency trading.

But the most intense rivalry is between Hong Kong and Shanghai. Each strives to impress businesses and regulators that it is the best place for Chinese businesses to raise money and investors to give it to them.

It is one of the oldest rivalries in Asia, dating back more than a century. The Hongkong and Shanghai Banking Corporation, these days HSBC, was started in Hong Kong on March 3, 1865, and opened for business in Shanghai a month later.

While Shanghai overshadowed Hong Kong in many ways before World War II, Hong Kong regained leadership after the Communist takeover in 1949, and benefited from the emigration of thousands of Shanghai business people. And in the 1990’s, the rise of a Shanghai faction of politicians in China, including President Jiang Zemin, resulted in many policies that favored their city."

Interesting stuff . . .

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Source:
Hong Kong and Shanghai Duel for Financial Capital
KEITH BRADSHER and DAVID BARBOZA
NYTimes, January 16, 2007
http://www.nytimes.com/2007/01/16/business/worldbusiness/16hong.html

Category: Investing, Markets

Earnings Season Begins

Category: Data Analysis, Earnings, Investing, Markets

Countries GDP as US States

Fascinating stuff: Carl Størmer points us to this amazing map of the United States. Each state’s economic output is analogized to another country’s GDP. click for larger chart: Notable omissions: U.K., Japan, Germany, China, Russia, Italy. I cannot vouch for the precision of this, but by eyeball, it looks about right. Carl adds: “When seeing…Read More

Category: Currency, Economy, Finance, Valuation

MLK Weekend Linkfest

Category: Weblogs

25 Possible Surprises in Store for 2007

Doug Kass puts together a terrific list each year. They are thought-provoking, and truth be told, kinda fun. These are just the headlines; The full details are here.

These are not intended to be predictions, but rather "events that have a
reasonable chance of occurring, despite the general perception that the odds are
very long."

The real purpose of this endeavor is to consider positioning a portion of my
portfolio in accordance with outlier events — with large payoffs. After all,
Wall Street research is still very much convention and groupthink,
despite the reforms over the past several years.


25 Possible Surprises in 2007

1. Private equity deals begin the year in a spectacular fashion with
two separate $50 billion dollar acquisitions announced in January.

2. Robert E. Rubin returns to his brokerage roots and becomes the CEO
and Chairman of Salomon Brothers/Smith Barney
after Citigroup (C)
decides to break up into three separate companies: a domestic money center bank
(Citibank), investment banking/retail brokerage (Salomon Brothers/Smith Barney)
and international consumer finance (Citiglobal).

3. Based on misleading government statistics, the housing market
appears to stabilize in the first quarter of 2007.

Read More

Category: Economy, Markets, Politics, Web/Tech, Weblogs

Contrarian Approach to Investing

Category: Apprenticed Investor, Investing, Markets, Psychology

The Tao of Steve

Category: Digital Media, Film, Music

Greenspan Sculpture

Category: Federal Reserve, Psychology

World’s Assets Hit Record Value Of $140 Trillion

Category: Data Analysis, Investing, Markets

Oil Plunge: Good for Retail, Bad for Earnings?

Category: Commodities, Consumer Spending, Earnings, Investing, Retail