Thursday, April 25, 2002

Damnation. The Stockholm bourse (link in Swedish only, sorry) has fallen for the seventh day in a row, helped along by Ericsson's announcement on Monday of its latest mammoth savings and cutback plan.

This is what happens in the stock exchanges of small countries: When big companies go down, they take the bourse with them.

We bought our Ericsson stocks after they announced the previous set of big cutbacks, when I thought the value of the stock couldn't go lower. But oh, no, they are now worth half of what we paid for them.

The Swedish word for the day is ned or ner ("ned" goes with verbs of movement, "ner" with verbs where no movement is implied). It means down.

- by Francis S.

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