BOILER ROOM features a host of live music, and performance artists brought to you by Asheville locals and out-of town entertainers.
Located in the GROVE HOUSE Entertainment Complex
11 Grove Street, Downtown Asheville, NC
(828) 505-1612 www.thegrovehouse.com
Welcome to the
BOILER ROOM
Upcoming Shows
Thursday, May 26th
ROCK with
Akamai Drone, The Dark Shave and Tonology
Doors 10pm
Cover: $5 (18 & up) or $7 (18 to 20)
INCLUDES FREE ADDMISSION INTO
SCANDALS NIGHTCLUB
Friday, May 27th
ROCK with
The Rose Familiar and Peace Jones
Doors 9pm, Music 10pm
Cover: $5 (21 & up) $7 (18 to 20)
Saturday, May 28th
ROCK with
The Great Liars and 100 Yorktown
Doors 9pm, Music 10pm
Cover: $7 (18 and up)
Friday, June 3rd
ROCK with
Monkey in Podship
and E/R Airplane
Doors 9pm, Music 10pm
Cover: $5 (21 & up) $7 (18 to 20)
Saturday, June 4th
ROCK/FUNK with
Groove Stain and Reid Attayway
D oors 9pm, Music 10pm
Cover: $7 (18 and up)
Monday, June 13, 2011
Fisher Capital Management Latest News: Korean financial watchdog probes data breach at Hyundai Capital
http://www.infosecurity-us.com/view/17260/korean-financial-watchdog-probes-data-breach-at-hyundai-capital/
11 April 2011
South Korea’s Financial Supervisory Service (FSS) has launched a probe into a data breach at Hyundai Capital that affected 420,000 of its customers.
The FSS has sent investigators to Hyundai Capital, the consumer financing arm of auto maker Hyundai Motor Group and GE Capital, after the company admitted that hackers gained access to its customer database and stole personal information and passwords of its customers, theKorea Herald reported.
The data breach occurred over a two-month period. The company was contacted by one of the hackers who asked for money in return for not releasing the customers’ information. However, the data breach was only made public after the company contacted the police to investigate the blackmail.
Hyundai Capital said its internal investigation revealed names, residential registration numbers, mobile phone numbers, and email addresses, as well as passwords to loan services were obtained by the hacker.
Police said the hackers gained access to the database using servers located in the Philippines and Brazil.
The FSS is considering punitive actions against the company if violations of the country’s financial information security laws are found. The agency also plans to form a task force in coordination with other agencies to investigate information security practices throughout the financial sector, the newspaper said.
11 April 2011
South Korea’s Financial Supervisory Service (FSS) has launched a probe into a data breach at Hyundai Capital that affected 420,000 of its customers.
The FSS has sent investigators to Hyundai Capital, the consumer financing arm of auto maker Hyundai Motor Group and GE Capital, after the company admitted that hackers gained access to its customer database and stole personal information and passwords of its customers, theKorea Herald reported.
The data breach occurred over a two-month period. The company was contacted by one of the hackers who asked for money in return for not releasing the customers’ information. However, the data breach was only made public after the company contacted the police to investigate the blackmail.
Hyundai Capital said its internal investigation revealed names, residential registration numbers, mobile phone numbers, and email addresses, as well as passwords to loan services were obtained by the hacker.
Police said the hackers gained access to the database using servers located in the Philippines and Brazil.
The FSS is considering punitive actions against the company if violations of the country’s financial information security laws are found. The agency also plans to form a task force in coordination with other agencies to investigate information security practices throughout the financial sector, the newspaper said.
Fisher Capital Management Corporate News: Apple’s iPad Supremacy Challenged by Google, Microsoft
http://www.financialfeed.net/apple%E2%80%99s-ipad-supremacy-challenged-by-google-microsoft/853288/
Posted by Nick Maffeo on May 30, 2011 in Business, Technology
Google Inc and Microsoft Corp will challenge the supremacy of Apple’s iPad as new tablet models are announced in Taipe’s Computex trade show this week. Google’s Android OS and Microsoft’s new Windows platform will be observed by investors and analyze if they are any match to Apple’s iPad. KGI Securities Co’s analyst Angela Hsiang said investors will want to know which tablet is better in performance and price and when the non-iPad camp will get going. She said, previously, people couldn’t actually see the products but at Computex, they can touch and use the products.
Microsoft will be revealing a new platform which will be carefully analyzed by investors to see if it can stand up against Apple.
In 2007-2008 Computex, Acer Inc and Asustek Computer Inc stirred the market with their low-cost netbooks. This week, they will showcase features of Google’s Android. Executives from Google and Microsoft will be at the event to give updates. Qualcomm Inc and Nvidia Corp, users of chips and chip designs from Intel Corp and ARM Holdings Plc will also have their products compete. In a May 26 report, analyst Toni Sacconaghi of Sanford C. Bernstein & Co, said by 2015 tablets shipments worldwide will reach 215 million units. PC sales will be reduced by 15% by tablets and annual sales between 2010 and 2015 will be less 2%. According to iSuppli Corp, new competitors will cut Apple’s market share by 50% in 2012.
A sample of Microsoft’s tablet OS based on ARM chips will be featured, said 3 insiders. Microsoft’s current platform, Windows 7, uses Samsung and Motorola tablets which are not ARM chip compatible. This month, Microsoft CEO Steve Ballmer said machines based on a new Microsoft OS, dubbed Windows 8, are due for release next year but retracted the “misstatement” later. Hsiang said future’s big development is ARM plus Microsoft, and if that’s a success then it’ll be big for the market. Windows 8 will also impact the market because many people can’t get used to Android while they’re familiar with Windows, added Hsiang.
ARM president Tudor Brown said ARM technology which supports the iPad and iPhone, looks at getting 50% of tablets, notebooks and netbook chips market share by 2015. They expect a climb of 15% by the end of 2011. The strong early lead in tablets and the smartphone market of Google supported its applications store expansion. That success, said IDC analyst Helen Chiang, balances Google’s software development immaturity. She said most vendors still worry about quality and stability and choose Google because its cost is lower as the operating system is free, while Windows adds to the price.
Posted by Nick Maffeo on May 30, 2011 in Business, Technology
Google Inc and Microsoft Corp will challenge the supremacy of Apple’s iPad as new tablet models are announced in Taipe’s Computex trade show this week. Google’s Android OS and Microsoft’s new Windows platform will be observed by investors and analyze if they are any match to Apple’s iPad. KGI Securities Co’s analyst Angela Hsiang said investors will want to know which tablet is better in performance and price and when the non-iPad camp will get going. She said, previously, people couldn’t actually see the products but at Computex, they can touch and use the products.
Microsoft will be revealing a new platform which will be carefully analyzed by investors to see if it can stand up against Apple.
In 2007-2008 Computex, Acer Inc and Asustek Computer Inc stirred the market with their low-cost netbooks. This week, they will showcase features of Google’s Android. Executives from Google and Microsoft will be at the event to give updates. Qualcomm Inc and Nvidia Corp, users of chips and chip designs from Intel Corp and ARM Holdings Plc will also have their products compete. In a May 26 report, analyst Toni Sacconaghi of Sanford C. Bernstein & Co, said by 2015 tablets shipments worldwide will reach 215 million units. PC sales will be reduced by 15% by tablets and annual sales between 2010 and 2015 will be less 2%. According to iSuppli Corp, new competitors will cut Apple’s market share by 50% in 2012.
A sample of Microsoft’s tablet OS based on ARM chips will be featured, said 3 insiders. Microsoft’s current platform, Windows 7, uses Samsung and Motorola tablets which are not ARM chip compatible. This month, Microsoft CEO Steve Ballmer said machines based on a new Microsoft OS, dubbed Windows 8, are due for release next year but retracted the “misstatement” later. Hsiang said future’s big development is ARM plus Microsoft, and if that’s a success then it’ll be big for the market. Windows 8 will also impact the market because many people can’t get used to Android while they’re familiar with Windows, added Hsiang.
ARM president Tudor Brown said ARM technology which supports the iPad and iPhone, looks at getting 50% of tablets, notebooks and netbook chips market share by 2015. They expect a climb of 15% by the end of 2011. The strong early lead in tablets and the smartphone market of Google supported its applications store expansion. That success, said IDC analyst Helen Chiang, balances Google’s software development immaturity. She said most vendors still worry about quality and stability and choose Google because its cost is lower as the operating system is free, while Windows adds to the price.
Fisher Capital Management Investment Solutions News Updates
Fisher Capital Management Investment Solutions: Final minutes of Harry Potter will be stretched into 7 films!
0
Posted on : 08-06-2011 | By : Fisher Capital Management Investment News | In : business, finance, investing, investment, latest news
Tags: fisher capital management, fisher capital management fraud updates and tips, fisher capital management investment, fisher capital management investment scam news and prevention, fisher capital management investment solutions news update
3 Votes
Warner Bros. announced last week that it will recut the last four minutes of “The Deathly Hollows: Part 2″ and stretch it into seven films so fans can enjoy the Harry Potter franchise for another decade.
Apparently, the producers are more than willing to cash in on the high popularity of the franchise.
From what I heard, the upcoming seven movies will feature a more ‘detailed’ depiction of the last hours in the story of Harry Potter and his friends (or maybe that’s just a fancy term for making the scenes proceed in slow motion all throughout?). Idk, I’ve always suspected maybe they’ll just use some ‘really complex camera style’ or whatnot as an excuse to present the films in a manner that imitates all motions done underwater (i.e. very slow motion).
This sounds ridiculous when I first heard it but, hey, it’s Hollywood, anything’s possible. So I think HP fans are going to have a fit when they hear about this. Either because they are wildly excited, or because they are terribly annoyed business-people are treating the wizard story as a cash cow.
Now, I personally don’t care if they’re extending the series or keeping true to its finale. Either way, it’s cool with me. But seeing the fans being divided ’cause of this is too amusing to pass up. Don’t you just love hearing passionate debates over fictional things. Classic.
I was just wondering how they are going to title each movie sequel…
0
Posted on : 08-06-2011 | By : Fisher Capital Management Investment News | In : business, finance, investing, investment, latest news
Tags: fisher capital management, fisher capital management fraud updates and tips, fisher capital management investment, fisher capital management investment scam news and prevention, fisher capital management investment solutions news update
3 Votes
Warner Bros. announced last week that it will recut the last four minutes of “The Deathly Hollows: Part 2″ and stretch it into seven films so fans can enjoy the Harry Potter franchise for another decade.
Apparently, the producers are more than willing to cash in on the high popularity of the franchise.
From what I heard, the upcoming seven movies will feature a more ‘detailed’ depiction of the last hours in the story of Harry Potter and his friends (or maybe that’s just a fancy term for making the scenes proceed in slow motion all throughout?). Idk, I’ve always suspected maybe they’ll just use some ‘really complex camera style’ or whatnot as an excuse to present the films in a manner that imitates all motions done underwater (i.e. very slow motion).
This sounds ridiculous when I first heard it but, hey, it’s Hollywood, anything’s possible. So I think HP fans are going to have a fit when they hear about this. Either because they are wildly excited, or because they are terribly annoyed business-people are treating the wizard story as a cash cow.
Now, I personally don’t care if they’re extending the series or keeping true to its finale. Either way, it’s cool with me. But seeing the fans being divided ’cause of this is too amusing to pass up. Don’t you just love hearing passionate debates over fictional things. Classic.
I was just wondering how they are going to title each movie sequel…
Wednesday, May 18, 2011
Fisher Capital Management Investment Solutions: Trusteer: User education can’t protect against social engineering
http://www.thetechherald.com/article.php/201115/7066/Trusteer-User-education-can-t-protect-against-social-engineering
by Steve Ragan – Apr 15 2011, 03:40
An experiment by security firm Trusteer has shown that even the most educated user can be fooled by a Phishing attack. By using 100 well-informed participants on social/business portal LinkedIn, Trusteer sent out messages similar to the ones site users would see on a regular basis. Interestingly, almost 70 percent of the test group fell for the con.
Phishing attacks and other scams are constantly explained and cautioned against, and most security professionals can explain what to look for and how to avoid falling victim to these cons. Yet, there is always a victim. No matter how good the education, you can’t reach everyone… and, more worringly, some will simply ignore the advice.
Trusteer, in wanting to test the notion that education isn’t the total solution for avoiding Phishing and other scams (as well as looking to show how easy it is to fall victim) asked 100 people to take part in its experiment. All of them agreed. However, while they knew they would be part of a security test, none of them knew when the test would take place.
Trusteer created a new identity on the LinkedIn site and then used some basic data-mining techniques on the supposedly educated participants, its goal being to collect information on their connections along with any other personal information presented via the site.
Mickey Boodaei, Trusteer’s CEO explains: “We picked a population of 100 users – these are people we know – friends and family and estimated to be fairly educated about security…”
“Since LinkedIn sends an alert when one of your connections has a new job, we decided to use this update method to create a fraudulent email. For each one of our targets we crafted a fictitious new job alert,” he added. “We chose one of their LinkedIn connections, and announced that this person was now working for a company that directly competes with our victim’s company.”
The message came with a large linked button with which to view the friend’s new title, just as LinkedIn does on its regular communications. Included in the email was a photo of the friend alongside their name, again much as it appears on the proper site. By choosing to click the button, users were taken, not to LinkedIn, but to a dummy attack site.
“The website we used was innocuous, but it was a place holder for a potentially malicious website that places malware on the victim’s computer. We released this email to all 100 subjects on the same day – a Tuesday morning – and monitored who clicked the link and reached our landing page,” Boodaei said.
Within the first 24 hours, 41 participants had fallen for the scam. Within seven days, 68 people had clicked the button. If this had been a real attack, those numbers would have marked a high return on a criminal’s investment. In all, Trusteer spent about 17 hours on the study.
As for the other 32 people, Boodaei explained that, when approached: “Sixteen said they haven’t seen this email (it probably went into their spam folder). Seven said they usually don’t read LinkedIn updates. Nine said that the update was not interesting enough for them to click the link.”
The one thing we disagree with is the company’s statement issued at the end of the test, which says that the “solution to this problem must be based on technology and probably using more than one method.”
Technology, while helpful, will not prevent the problem of people falling prey to Phishing scams. Perhaps a better recommendation would have been to blend technology with basic education and awareness. Phishing scams work because they are able to bypass technology and take advantage of human nature.
As mentioned in the Trusteer write-up, the tools that organizations use to train their customers on Phishing scams are “not effective enough” to reach all of them, or convey the message in a way the majority will understand. Mixing education and technology might help, but technology alone will do no better than that which exists today.
The test performed by Trusteer is an interesting one. It would be nice to see a similar test where the participants are told it is a Phishing attack beforehand. Likewise, it would be interesting to see the test done to scale, where several hundred if not thousands of participants are targeted.
It’s frustrating to see people fall for basic Phishing scams, and it’s painful when major companies like RSA are victimized by them. However, there is no single answer when it comes to protecting against or preventing tricks against the human mind. The person who finally solves that riddle will be able to demand any ransom they want for the answer.
by Steve Ragan – Apr 15 2011, 03:40
An experiment by security firm Trusteer has shown that even the most educated user can be fooled by a Phishing attack. By using 100 well-informed participants on social/business portal LinkedIn, Trusteer sent out messages similar to the ones site users would see on a regular basis. Interestingly, almost 70 percent of the test group fell for the con.
Phishing attacks and other scams are constantly explained and cautioned against, and most security professionals can explain what to look for and how to avoid falling victim to these cons. Yet, there is always a victim. No matter how good the education, you can’t reach everyone… and, more worringly, some will simply ignore the advice.
Trusteer, in wanting to test the notion that education isn’t the total solution for avoiding Phishing and other scams (as well as looking to show how easy it is to fall victim) asked 100 people to take part in its experiment. All of them agreed. However, while they knew they would be part of a security test, none of them knew when the test would take place.
Trusteer created a new identity on the LinkedIn site and then used some basic data-mining techniques on the supposedly educated participants, its goal being to collect information on their connections along with any other personal information presented via the site.
Mickey Boodaei, Trusteer’s CEO explains: “We picked a population of 100 users – these are people we know – friends and family and estimated to be fairly educated about security…”
“Since LinkedIn sends an alert when one of your connections has a new job, we decided to use this update method to create a fraudulent email. For each one of our targets we crafted a fictitious new job alert,” he added. “We chose one of their LinkedIn connections, and announced that this person was now working for a company that directly competes with our victim’s company.”
The message came with a large linked button with which to view the friend’s new title, just as LinkedIn does on its regular communications. Included in the email was a photo of the friend alongside their name, again much as it appears on the proper site. By choosing to click the button, users were taken, not to LinkedIn, but to a dummy attack site.
“The website we used was innocuous, but it was a place holder for a potentially malicious website that places malware on the victim’s computer. We released this email to all 100 subjects on the same day – a Tuesday morning – and monitored who clicked the link and reached our landing page,” Boodaei said.
Within the first 24 hours, 41 participants had fallen for the scam. Within seven days, 68 people had clicked the button. If this had been a real attack, those numbers would have marked a high return on a criminal’s investment. In all, Trusteer spent about 17 hours on the study.
As for the other 32 people, Boodaei explained that, when approached: “Sixteen said they haven’t seen this email (it probably went into their spam folder). Seven said they usually don’t read LinkedIn updates. Nine said that the update was not interesting enough for them to click the link.”
The one thing we disagree with is the company’s statement issued at the end of the test, which says that the “solution to this problem must be based on technology and probably using more than one method.”
Technology, while helpful, will not prevent the problem of people falling prey to Phishing scams. Perhaps a better recommendation would have been to blend technology with basic education and awareness. Phishing scams work because they are able to bypass technology and take advantage of human nature.
As mentioned in the Trusteer write-up, the tools that organizations use to train their customers on Phishing scams are “not effective enough” to reach all of them, or convey the message in a way the majority will understand. Mixing education and technology might help, but technology alone will do no better than that which exists today.
The test performed by Trusteer is an interesting one. It would be nice to see a similar test where the participants are told it is a Phishing attack beforehand. Likewise, it would be interesting to see the test done to scale, where several hundred if not thousands of participants are targeted.
It’s frustrating to see people fall for basic Phishing scams, and it’s painful when major companies like RSA are victimized by them. However, there is no single answer when it comes to protecting against or preventing tricks against the human mind. The person who finally solves that riddle will be able to demand any ransom they want for the answer.
Fisher Capital Management Corporate News: Sprint Nextel Corporation Launches New Mobile Solutions for Green Life Enthusiasts – NYSE:S
http://www.usamarketnews.com/major-business-news/1641/sprint-nextel-corporation-launches-new-mobile-solutions-for-green-life-enthusiasts-nyses.html
Posted by: SuzyCrosno on April 17th,2011
Sprint Nextel Corporation NYSE:S introduces a new mobile solution built just for those who are dedicated environmentalists or just interested in finding some simple yet meaningful ways to begin living a greener life. Company yesterday declared its newest Sprint ID pack – the Green ID pack – which offers an unmatched eco-friendly Android™ experience, delivered right to one’s fingertips, on select Sprint devices.
With mobile content from eco-friendly favorites like Earth911.com, TreeHugger.com, the Green ID pack automatically loads apps, Green America and the National Audubon Society, widgets and shortcuts tailor-made for users who want to live a more environmentally sustainable life and help others to do the same.
Sprint Nextel Corporation is basically a Wireless Communications industry company that holds a portfolio of about 40,000 employees. Company’s stock price is increasing continuously for the most recent quarter as Sprint’s three consecutive months’ share growth is +8.10% with its relative strength index of 71. However on semiannual basis the last six consecutive months growth recorded +4.80% with relative strength index of 63.
Company’s sales have increased 2.51% during last five consecutive years and resulted $32.56 billion for last consecutive twelve months. The company’s growth of its sales in recent quarter vs. year ago quarter recorded 5.50% which is chasing the Industry benchmark of 6.60% and below from Standard and Poor’s benchmark of 11.70%.
Sprint Nextel Corporation NYSE:S on April 15, 2011 decreased $0.15 and settled to the closing price of $4.81. The overall volume in the last trading session was 63.82 million shares. Its fifty two week range was $3.70-$5.31. The total market capitalization remained $14.38 billion.
Sprint Nextel’s current stock price is moving above its 52 week low by 30.00% and moving below from 52 week high price by 9.42%. SPRINT last month stock price volatility remained 3.58%. In its share capital SPRINT has 2.99 billion outstanding shares while company’s float is the same at 2.99 billion shares. Ownership of company is 86.82% institutional while insiders owning 0.22%.
Sprint Nextel offers a comprehensive range of wireless and wireline communications services bringing the freedom of mobility to consumers, businesses and government users. Sprint Nextel served more than 49.9 million customers at the end of 2010 and is widely recognized for developing, engineering and deploying innovative technologies, including the first wireless 4G service from a national carrier in the United States; offering industry-leading mobile data services, leading prepaid brands including Virgin Mobile USA, Boost Mobile, and Assurance Wireless; instant national and international push-to-talk capabilities; and a global Tier 1 Internet backbone.
Posted by: SuzyCrosno on April 17th,2011
Sprint Nextel Corporation NYSE:S introduces a new mobile solution built just for those who are dedicated environmentalists or just interested in finding some simple yet meaningful ways to begin living a greener life. Company yesterday declared its newest Sprint ID pack – the Green ID pack – which offers an unmatched eco-friendly Android™ experience, delivered right to one’s fingertips, on select Sprint devices.
With mobile content from eco-friendly favorites like Earth911.com, TreeHugger.com, the Green ID pack automatically loads apps, Green America and the National Audubon Society, widgets and shortcuts tailor-made for users who want to live a more environmentally sustainable life and help others to do the same.
Sprint Nextel Corporation is basically a Wireless Communications industry company that holds a portfolio of about 40,000 employees. Company’s stock price is increasing continuously for the most recent quarter as Sprint’s three consecutive months’ share growth is +8.10% with its relative strength index of 71. However on semiannual basis the last six consecutive months growth recorded +4.80% with relative strength index of 63.
Company’s sales have increased 2.51% during last five consecutive years and resulted $32.56 billion for last consecutive twelve months. The company’s growth of its sales in recent quarter vs. year ago quarter recorded 5.50% which is chasing the Industry benchmark of 6.60% and below from Standard and Poor’s benchmark of 11.70%.
Sprint Nextel Corporation NYSE:S on April 15, 2011 decreased $0.15 and settled to the closing price of $4.81. The overall volume in the last trading session was 63.82 million shares. Its fifty two week range was $3.70-$5.31. The total market capitalization remained $14.38 billion.
Sprint Nextel’s current stock price is moving above its 52 week low by 30.00% and moving below from 52 week high price by 9.42%. SPRINT last month stock price volatility remained 3.58%. In its share capital SPRINT has 2.99 billion outstanding shares while company’s float is the same at 2.99 billion shares. Ownership of company is 86.82% institutional while insiders owning 0.22%.
Sprint Nextel offers a comprehensive range of wireless and wireline communications services bringing the freedom of mobility to consumers, businesses and government users. Sprint Nextel served more than 49.9 million customers at the end of 2010 and is widely recognized for developing, engineering and deploying innovative technologies, including the first wireless 4G service from a national carrier in the United States; offering industry-leading mobile data services, leading prepaid brands including Virgin Mobile USA, Boost Mobile, and Assurance Wireless; instant national and international push-to-talk capabilities; and a global Tier 1 Internet backbone.
Fisher Capital Management Investment Solutions: Bin Laden’s Death to Boost Pakistan Economy, Stocks:Strategist
Published: Tuesday, 3 May 2011 | 3:29 AM ET
By: Geraldine Tan
CNBC News Assistant
The killing of Osama bin Laden is a positive event for Pakistan’s economy and stock market, despite doubts about whether the country’s military was complicit in hiding the Al Qaeda leader, according to a strategist.
Sajjad Hussain | Getty Images
Mark Matthews, equity strategist at Macquarie, said the positive commentsfrom top U.S. officials including Secretary of State Hillary Clinton on Pakistan’s role against terrorism would eventually lead to the release of much-delayed financial aid for the country. That, in turn, would help the government lower its fiscal deficit and boost the economy.
“For about 5-6 months now, the American’s and coalition money have not been released into Pakistan. And Pakistan has a very wide fiscal deficit. It’s 6.1 percent of GDP and it is the major issue overhanging their stock market,” Matthews added.
The aid package worth $7.5 billion over 5 years has been promoted by Democrat Senator John Kerry and Republican Senator Dick Lugar. But it’s been in limbo because of U.S. concerns about corruption in Pakistan.
Once, that’s resolved, Matthews expects the stock market to benefit. “There are lots of gems in that country. There are probably more gems there, stock-wise, than any other country in Asia,” Matthews told CNBC’s Bernie Lo.
The Karachi stock index rallied late last year along with other emerging markets, but so far this year it has dropped 6 percent because of rising fuel prices and a growing budget deficit. According to Macquarie, Karachi’s stock index not only offers value, but also many well-run companies.
For investors looking for stocks with volume, Matthews suggests looking atPakistan Oilfields [PKOL.KA 326.80 -0.75 (-0.23%) ]. He likes this company as it has a daily turnover of $5 million and trades on about 5x earnings, with a 9.5 percent dividend yield.
And for investors who can stomach the illiquidity in the small-cap space, he recommends Askari Bank [ASBK.KA 11.50 -0.25 (-2.13%) ].
“If you annualize that (the bank’s first-quarter results), that is on 4x PE and their asset quality has held up remarkably well, NPLs are very low and its at a 40 percent discount to book,” noted Matthews.
But he also says investors need to be cautious, and he said he was recommending taking only small positions. (Watch full interview here.)
By: Geraldine Tan
CNBC News Assistant
The killing of Osama bin Laden is a positive event for Pakistan’s economy and stock market, despite doubts about whether the country’s military was complicit in hiding the Al Qaeda leader, according to a strategist.
Sajjad Hussain | Getty Images
Mark Matthews, equity strategist at Macquarie, said the positive commentsfrom top U.S. officials including Secretary of State Hillary Clinton on Pakistan’s role against terrorism would eventually lead to the release of much-delayed financial aid for the country. That, in turn, would help the government lower its fiscal deficit and boost the economy.
“For about 5-6 months now, the American’s and coalition money have not been released into Pakistan. And Pakistan has a very wide fiscal deficit. It’s 6.1 percent of GDP and it is the major issue overhanging their stock market,” Matthews added.
The aid package worth $7.5 billion over 5 years has been promoted by Democrat Senator John Kerry and Republican Senator Dick Lugar. But it’s been in limbo because of U.S. concerns about corruption in Pakistan.
Once, that’s resolved, Matthews expects the stock market to benefit. “There are lots of gems in that country. There are probably more gems there, stock-wise, than any other country in Asia,” Matthews told CNBC’s Bernie Lo.
The Karachi stock index rallied late last year along with other emerging markets, but so far this year it has dropped 6 percent because of rising fuel prices and a growing budget deficit. According to Macquarie, Karachi’s stock index not only offers value, but also many well-run companies.
For investors looking for stocks with volume, Matthews suggests looking atPakistan Oilfields [PKOL.KA 326.80 -0.75 (-0.23%) ]. He likes this company as it has a daily turnover of $5 million and trades on about 5x earnings, with a 9.5 percent dividend yield.
And for investors who can stomach the illiquidity in the small-cap space, he recommends Askari Bank [ASBK.KA 11.50 -0.25 (-2.13%) ].
“If you annualize that (the bank’s first-quarter results), that is on 4x PE and their asset quality has held up remarkably well, NPLs are very low and its at a 40 percent discount to book,” noted Matthews.
But he also says investors need to be cautious, and he said he was recommending taking only small positions. (Watch full interview here.)
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