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The badyst Claudio Zuchovicki badyzed today the abrupt fall of Facebook shares and took the value of the company as a starting point for contextualizing this what happens with the Argentine market and how The local place in front of the world is positioned.
"The loser is not Facebook, but those who bought their shares at a price much more expensive, because of the expectations that they had a much better balance," said l & # 39; economist. Dialogue with Radio Miter .
He added: " Facebook was worth before the balance of US $ 620 million was known, more than an Argentinean GDP (…) The value is not explained by the present, but by what investors thought they would gain in the future. "
Despite the huge losses that he recorded, Zuchovicki explained that the company worth more than all the Argentine market. ] Look also
"Yesterday the accions dropped by 20% and lost 120 billion US dollars. But if you add all the Argentine companies, you stop in the middle of the year. Argentina and you say that I buy all the YPF, I buy all the TENARIS;
Although the badyst has made it clear that it was d & # 39; a "somewhat forced comparison", he said that "this serves to contextualize" the size of the local market in terms of value.
The impossibility of planning the investment
Zuchovicki stated that when an investor badyzes the purchase of a business, think about how many years he will recover his money.This "risk value" invalidates any investment in Argentina
"In Japan this value is 60, in Brazil it is 12 years because they are a little more volatile." In Argentina t Or they ask to get the money back in 5 or 6 years because they know that every seven years they change the rules of the game "he explained.
In this line, he said, "If you do not keep the rules for ten years, no one can plan an investment for ten years, that is what is called certainty in economy, which is missing here. " 19659002] "Not only for the management of the government, but throughout the country, because we are very changeable in what we ask for. Then we only get short-term investors who buy Lebac or Letes, "he added.
And concluded: " The Argentine market has lost a lot of value lately. like when the Congress was discussed again after agreement with the governors and the budget was voted , the tariff regime. So investors think "here you can change the rules of the game from one day to the next" and decide to go to other countries that are more attractive . "
