Data from the Jamaica Stock Exchange (JSE) show that at the end of 2023, the market capitalisation, that is the combined value of all companies on the main market of the Jamaica Stock Exchange, was down by $80.3 billion when compared with the prior year. At the same time, the market capitalisation for companies listed on the junior market was down by $8.6 billion. The declines mean companies listed on the two indices shed a combined $88.9 billion in 2023, reversing all the gains it made in 2022 and them some.
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Jamaican Stock Market Lost 90 Billion in 2023
Data from the Jamaica Stock Exchange (JSE) show that at the end of 2023, the market capitalisation, that is the combined value of all companies on the main market of the Jamaica Stock Exchange, was down by $80.3 billion when compared with the prior year. At the same time, the market capitalisation for companies listed on the junior market was down by $8.6 billion. The declines mean companies listed on the two indices shed a combined $88.9 billion in 2023, reversing all the gains it made in 2022 and them some.
Instead of posting partisan uninformed foolishness, make an attempt to emancipate your mind.
Over the last decade, the Jamaica stock market has regularly been on the list of best-performing – in the world! It beat the US and FTSE performance more than once in that time. In 2019, just before the pandemic hit, it was the world’s top performing exchange.
It was also #1 in 2015 when the PNP was in power, was it also in a scam bubble then? Or does that apply only when the JLP is in power?
Anyone with even a rudimentary understanding of stock market cycles would know that after exponential gains, eventually, there would be a period of consolidation. The pandemic exacerbated what would have been a shorter period of consolidation, and the JSE, along with markets throughout the world, is only now beginning to regain stability.
In January next year, let's see you post a thread about this selfsame JSE scam.
We’ll see then if the bubble is in the market or in your head.
In reply to FanAttick
The problem with Jamaica, many of the business people are quasi-capitalist - they think short term!
Time for the government to set a new agenda - enforce the law for change in peoples' behavior!
Import more investors into the country because locals will not cut it!
In reply to VIX
Did you pick up talking points at the JLP head office? The market is a forward pricing mechanism, it is not about what took place, last year or two years ago.
In reply to camos
No.
From my JSE stock holdings.
Of which the value has more than tripled in the last decade.
Under 2 regimes.
What wrong with capitalism?
In reply to VIX
Of which the value has more than tripled in the last decade.
In reply to camos
It should be, something tripling in the last decade could worth little or nothing today!
In reply to XDFIX It is not going to worth nothing, there will be some value .
In reply to camos
The fundamentals did not support the abnormal growth…not a surprise that the bubble burst
The other issue is the cesspool of insider trading. There is little to no regulatory oversight or enforcement ….
In reply to FanAttick
In reply to camos
Are you citing French chemist, Antoine Lavoisier?
In reply to camos
You're versed in the to and fro in the markets. But you still supporting the imbecilic spin in the lead post?
You're in a position to offer a balanced take on the topic. But you prefer to support a foolish partisan hack?
In reply to VIX Bro, I have reservations about transparence and investor protection in Jamaica. The article is not well written, saying $90 billion was lost does not mean much, unless one knows the percentage drop that represents, digging one realize there were at least two bigger declines.
Nitro could come in and give us a different perspective.
In reply to VIX
Don't hold your breath waiting for an answer. Welcome to the back room.
Meanwhile...in other news:
In reply to NHu
Panic setting into the ranks of Ali Baba and dem 40 thieves?
In reply to NHu
I think the record will show that I am much more willing to criticize the PNP, than you are able to the JLP.
In reply to camos
Without a doubt. The records speak for themselves.
By the way - where’s Wally?
That man used to give us weekly crime updates in the Yard. Not a peep from him the last 4 years
This thread reminds me of the stock market posts from when the misfits' orange overlord was president of the bessst in the wurrrllll.
Bad day on the market? Trump's fault.
Good day? All thanks to Obama's astute management.
Blinkered political hacks right around.
In reply to VIX
You are the stupidest clown on the planet….
Thinking that you know more about the workings of the stock market than any one else on this board is laughable…
In reply to camos
Is that how you view the world? You are either with JLP or you are with the PNP?
Both of them are skunts (thanks Spuds).
Now back to the stock market...I have skin in the game, but the JSE is not a place where serious traders like me can ply our trade. Notice I said traders, not investors. If you are an investor, just buy the mega companies like Grace Kennedy or Sagicor, and go about your business.
If you are a trader, it makes no sense. Volumes are too low, poor liquidity, no options trading or short selling...My bread is buttered by volatility, and dynamism.
In reply to NHu
In reply to FanAttick
Yes that IS indeed laughable, since I never suggested it to begin with!
Putting aside the adolescent name-calling, you never clarified if the Jamaican Stock Exchange would remain a bubble scam if the PNP takes over and it performs well, like back in 2015, or if bubble scam only applies to when the JLP is in charge.
In reply to VIX Has NCB paid a dividend, since the changes?
In reply to camos
Those are issues that need to be addressed urgently. However, regulation does not prevent fraud. The SSL thieves employed the Enron accounting model. I believe the entire company was bogus from the start.
In reply to camos
Yes, last month.
In reply to NHu We will never eliminate fraud, how we detect and punish is what will serve to minimize occurrence.
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