1NVEST0R MAND1R1 maen SAHAM bener

belajar MANDIRI, akan JAUH LEBE SUKSES (SEJAK 210809)

daftar short selling dan transaksi marjin desember 09 … 301109 30 November 2009

Filed under: Teknik Maen Saham — bumi2009fans @ 2:32 pm

30/11/2009 – 12:22
4 Emiten Terhempas dari Transaksi Marjin

(inilah.com /Agung Rajasa)
INILAH.COM, Jakarta – Sebanyak 4 emiten keluar dari daftar perusahaan yang bisa melakukan transaksi margin dan diijinkan short selling oleh Bursa per 1 Desember 2009.

Hal ini tertuang dalam pengumuman PT Bursa Efek Indonesia No Kep-00383/BEI/04-2009 tertanggal 29 April 2009. Sebanyak 38 efek tercatat bisa melakukan transaksi marjin dan 35 efek yang dapat melakukan short selling seperti dirilis Bursa, Senin (30/11). Keempat emiten tersebut adalah PT Central Proteinaprima Tbk (CPRO), PT Ciputra Development Tbk (CTRA), PT Ciputra Property Tbk (CTRP), PT PP London Sumatera Tbk (LSIP).

Sementara daftar lengkap emiten yang bisa ditransaksikan marjin adalah PT Astra Agro Lestari Tbk (AALI), PT Adaro Energy Tbk (ADRO), PT Aneka Tambang Tbk (ANTM), PT Astra Internasional Tbk (ASII), PT Bank Central Asia Tbk (BBCA), PT Bank Negara Indoensia Tbk (BBNI), PT Bank Rakyat Indonesia Tbk (BBRI), PT Bank Danamon Tbk (BDMN), PT Berlian Laju Tanker Tbk (BLTA), PT Bank Mandiri Tbk (BMRI), PT Bakrie Telecom Tbk (BTEL), PT Bumi Resources Tbk (BUMI), Barito Pacifik Tbk (BRPT), Bumi Serpong Damai Tbk (BSDE), PT Bakrieland Development Tbk (ELTY), PT International Nickle Indonesia Tbk (INCO), PT Indofood Sukses Makmur Tbk (INDF), PT Indika Energy Tbk (INDY), PT Indocement Tunggal Perkasa Tbk (INTP), PT Indosat Tbk (ISAT), PT Indo Tambangraya Megah Tbk (ITMG), PT Jasa marga Tbk (JSMR), PT Kawasan Industri Jababeka Tbk (KIJA), PT Kalbe Farma Tbk (KLBF), PT Lippo Karawaci Tbk (LPKR), PT PP London Sumatera Tbk (LSIP), PT Medco Energy Tbk (MEDC), PT Perusahaan Gas Negara Tbk (PGAS), PT Medco Energi Internatinal Tbk (MEDC), PT Tambang Batubara Bukit Asam Tbk (PTBA), PT Semen Gresik Tbk (SMGR), PT Holcim Tbk (SMCB), PT Timah Tbk (TINS), PT Telekomunikasi Indonesia Tbk (TLKM), PT Truba Alam Manunggal Engineering Tbk (TRUB), PT United Tractor (UNTR), PT Unilever Indonesia Tbk (UNVR), Bakrie Sumatera Plantations Tbk (UNSP).

Sedang efek yang dapat dishort selling adalah AALI, ADRO,ANTM, ASII, BBCA, BBNI, BBRI, BDMN, BLTA, BMRI, BRTP, BSDE, BTEL, BUMI, ELTY, INDF, INDY, INTP, ITMG, JSMR, KIJA, KLBF, LPKR, MEDC, PGAS, PTBA, SMCB, SMGR, TINS (baru), TLKM, TRUB, UNSP, dan UNTR. [cms]

Iklan
 

sistematisasi order transaksi saat imbas dubai asistemik … 301109

Filed under: JUAL beli HARIAN — bumi2009fans @ 7:10 am

order jual trub:
133
135
order beli trub:
127
order beli trub:
127 full matched
order jual trub:
133 full matched
order jual trub revisi:
132
———————————— saham lain
order jual indy:
2175
2200
order jual indy:
2150
order jual indy:
2150 full matched
2175 full matched
———————————— saham lain
order jual elsa:
310
315
320
order beli elsa:
295
order jual elsa tambahan dan revisi:
305
order beli elsa:
295 full matched
———————————— saham lain
order jual antm:
2275
2300
order jual antm:
2275 full matched
order jual antm revisi:
2250
2275
order jual antm:
2250 full matched
2275 full matched
———————————— saham lain
order jual adro:
1680
1690
1700
order jual adro:
1680 full matched
1690 full matched
1700 full matched
order jual adro tambahan:
1760
order jual adro revisi:
1750
———————————— saham lain
order beli bumi:
2325
order beli bumi:
2325 full matched
order jual bumi:
2450
order jual bumi:
2450 full matched
order jual bumi tambahan:
2525
2550
order jual bumi:
2525 full matched
———————————— saham lain
order beli bbri:
7550
order beli bbri:
7500 full matched
———————————— saham lain
ihsg 30 Oktober 09: 2367
ihsg 30 November 09: 2415
Gain: +2,02%
bumi 30 Oktober 09: 2375
bumi 30 November 09: 2350
Gain : -1,05%
antm 30 Oktober 09: 2275
antm 30 November 09: 2200
Gain: -3,29%
adro 30 Oktober 09: 1540
adro 30 November 09: 1740
Gain: +12,98%
bbri 30 Oktober 09: 7100
bbri 30 November 09: 7400
Gain: +4,22%
bnii 30 Oktober 09: 360
bnii 30 November 09: 345
Gain: -4,16%
elsa 30 Oktober 09: 320
elsa 30 November 09: 295
Gain: -7,81%
trub 30 Oktober 09: 126
trub 30 November 09: 126
Gain : 0%
indy 30 Oktober 09: 2250
indy 30 November 09: 2225
Gain : -1,11%
… kesimpulan : N(yaman)ovember 09 terbukti untuk ihsg … tapi bwat indy, trub, elsa, bnii, bumi JELAS TIDAK NYAMAN, karena loss … sedang bwat BBRI JELAS TERTOLONG aksi korporasi CUM DIVIDEN, sementara ADRO TERTOLONG AKSI KORPORASI CUM DIVIDEN DAN BUYBACK OLEH PEMILIK ADRO … jelas sekali PASAR MENANGGAPI POSITIF JIKA DIVIDEN SESUAI EKSPEKTASI, apalagi ada buybacks …
———————————— saham lain
———————————— saham lain
Senin, 30/11/2009 12:08 WIB

IHSG naik 1% di tengah keresahan Dubai World

oleh : Sylviana Pravita R.K.N.

JAKARTA (bisnis.com): Sesi I perdagangan saham hari ini mengantarkan Indeks Harga Saham Gabungan (IHSG) naik 23,03 basis poin (1%) menjadi 2.416,55 di tengah keresahan atas gagal bayar Dubai World.

Sebanyak 48 saham naik, 71 saham turun dan 288 saham tidak berubah. Saham-saham yang mengalami kenaikana dalah ASII naik Rp750 menjadi Rp32.750, TLKM naik Rp150 menjadi Rp8.900, BBCA naik Rp100 menjadi Rp4.775, BUMI naik Rp100 menjadi Rp2.475, ITMG naik Rp1.400 menjadi Rp28.600.

Selain itu, ADRO naik Rp40 menjadi Rp1.710, UNTR naik Rp350 menjadi Rp14.950, BMRI naik Rp50 menjadi Rp4.425, PTBA naik Rp400 menjadi Rp16.200 dan INTP naik Rp250 menjadi Rp10.950.

Saham-saham yang mengalami penurunan adalah saham BBRI turun Rp200 menjadi Rp7.450, UNVR turun Rp100 menjadi Rp10.850, INCO turun Rp50 menjadi Rp3.475, HMSP turun Rp100 menjadi Rp10.200, ELTY turun Rp20 menjadi Rp225, ENRG turun Rp10 menjadi Rp210 dan INDY turun Rp25 menjadi Rp2.125 dan ISAT turun Rp50 menjadi Rp4.950.

Kekhawatiran gagal bayar Dubai World memicu sikap hati-hati pemodal memposisikan portofolionya di bursa pekan ini, setelah sentimen negatif tersebut menghajar bursa regional pekan lalu.

Sentimen negatif dari BUMN investasi Timur Tengah itu memicu koreksi bursa regional pekan lalu, menyusul kekhawatiran emiten di Asia akan merugi akibat rencana Dubai menunda pembayaran utangnya.

bisnis.com
———————————— saham lain
30/11/2009 – 13:45
Sikapi Kondisi Bursa Global
Lebih Aman ‘Wait and See’
Jagad Ananda

(inilah.com /Dokumen)
INILAH.COM, Jakarta – Berbahagialah investor yang telah mengamankan kekayaannya menjelang long week end pekan lalu. Sebab, setelah gagal bayar Dubai World, jagad persahaman dunia kembali diguncang ketidakpastian.

Memang, yang diumumkan Rabu (25/11) pekan lalu, bukanlah pernyataan ketidak-mampuan membayar. Pemerintah Dubai, sebagai pemilik Dubai World, hanya mengatakan, pihaknya memerlukan waktu untuk mengelola utang yang besarnya mencapai US$59 miliar.

Seraya menunggu restrukturisasi yang akan dibantu Konsultan Deloitte, pemerintah dari salah satu negara penghasil minyak terbesar di dunia itu meminta agar kreditur mau menunda pembayaran hingga 30 Mei.

Namun, apapun kilah yang dikemukakan, para pelaku pasar dunia menganggap Dubai telah kehilangan kemampuannya untuk membayar kewajiban-kewajiban mereka. Ini otomatis akan mengganggu likuiditas sejumlah bank di negara-negara maju yang memiliki tagihan kepada Dubai World.

Akibat berikutnya, seperti kita saksikan bersama, setelah bursa di Eropa, bursa Wall Street terkena gelombang berikutnya. Mungkin, itu sebabnya sejumlah analis yang dihubungi INILAH.COM meramalkan akan terjadinya longsor susulan di perdagangan saham yang berlangsung hari ini.

“Setelah Wall Street ikut tergelincir, tak banyak lagi yang bisa kita harapkan,” kata seorang kepala riset. Ia memprediksikan, indeks harga saham gabungan masih tetap berkutat di level 2.300. “Tadinya saya berharap indeks bisa dengan segera kembali ke level 2.400. Tapi kalau keadaannya seperti ini, berat,” lanjutnya.

Apalagi, dari dalam negeri nyaris tak ada sentimen positif yang bisa mendorong perdagangan. Betul, di pekan ini Badan Pusat Statistik (BPS) akan mengumumkan tingkat inflasi yang rendah. BI pun diperkirakan masih akan mempertahankan tingkat bunganya.

Namun, semua itu sudah masuk dalam perkiraan para pelaku pasar. Sementara, kisruh Kasus Bank Century makin memanas dan ditengarai akan mengguncang keras dunia perpolitikan Indonesia dalam jangka waktu yang cukup panjang.

Walhasil, tak ada lagi sentimen positif. Ditambah lagi, harga minyak dunia juga menunjukkan kecenderungan menurun. “Kami tak bisa merekomendasikan apa-apa. Dalam kondisi seperti ini, sebaiknya investor bersikap wait and see hingga ada kepastian yang jelas,” saran seorang analis. [mdr]
EKONOMI
30/11/2009 – 05:52
Investor Diminta Tetap Hati-hati
Demam Dubai World Mereda
Ahmad Munjin

INILAH.COM, Jakarta – Sentimen buruk dari Dubai yang terlilit utang diperkirakan susut pada perdagangan saham pekan ini. Pasalnya, Indonesia tidak memiliki eksposur struktural dengan Dubai.

Pengamat pasar modal, David Cornelis mengatakan, sentimen Dubai hanya sebatas contagious effect (efek yang menular) ke market domestik. Namun, secara exposure struktural, Indonesia tidak memiliki eksposure terhadap mereka.

Karena itu, sentimen dari dari Dubai hanya sentimen terhadap momentum pergerakan harga saham semata. Pekan depan, diekspektasikan market sudah memfaktorkan hal tersebut.

“Pekan depan sentimen negatifnya sudah mulai menurun sebagai akselerasi penurunan dari efek dari Dubai tersebut,” katanya kepada INILAH.COM, di Jakarta, kemarin. Menurut David sentimen Dubai ter-blow-up karena secara teknis bertepatan dengan terjadinya pelemahan momentum di pasar setelah mengalami penguatan sebelumnya.

Sebelumnya, bursa Asia seperti indeks Shangai merosot 3,6% dan merupakan penurunan terbesar sejak Agustus 2009. Kemerosotan indeks meluas hingga ke Jepang, indeks Nikkei 225 turun lebih dari 2% pada awal perdagangan.

Kondisi ini disinyalir akibat investor panik atas pengumuman Dubai World yang akan menunda pembayaran utang sebesar US$60 miliar hingga Mei 2010. Pengumuman itu menimbulkan pertanyaan mengenai reputasi Persian Gulf.

Pasalnya, perusahaan memiliki magnet terhadap berbagai perusahaan investasi internasional. Bila termasuk bunga, beban yang harus ditanggung grup perusahaan dukungan pemerintah itu menjadi sekitar US$ 80 miliar.

Sedangkan Kepala Riset PT Financorpindo Nusa, Edwin Sebayang menilai, kasus Dubai World memang memberikan dampak negatif ke bursa saham Indonesia, namun tidak secara langsung.

Jatuhnya bursa akhir pekan lalu dinilai akibat sektor finansial yang sedang konsolidasi. “Secara langsung bursa Indonesia tidak terpengaruh. Kalaupun IHSG terkoreksi, itu karena aspek psikologi karena Asia yang turun,” katanya.

Edwin menilai, saat ini kondisi perekonomian domestik memang sudah berangsur-angsur pulih. Namun, pelaku pasar harus tetap waspada. “Kita sudah melewati masa terparah dari krisis tapi karena kasus Dubai pasar tetap hati-hati saat ini,” imbuhnya.

Lebih lanjut ia memprediksikan, kepanikan kasus Dubai di pasar internasional tidak akan berlangsung lama. “Bursa saham Eropa sudah turun cukup parah, sedangkan bursa AS tidak terlalu terimbas karena penundaan utang Dubai World itu,” ungkapnya.

Dihubungi terpisah, Andrew Siahaan, Research Analyst Reliance Securities memprediksikan, bursa saham Indonesia pekan ini akan terkoreksi. Pasar menilai kasus Dubai World sebagai risiko pasar yang cukup tinggi.

“Hal ini akan memicu investor untuk mencari investasi yang lebih aman selain di emerging market, seperti mata uang yen, dolar AS, dan obligasi pemerintah,” jelasnya.

Meski kasus Dubai World tidak akan berimbas lama terhadap bursa dunia, kondisi ini dianggap memberikan kesadaran kepada investor bahwa pasar masih beresiko. “Kondisi perekonomian global memang sudah pulih namun masih risk recovery,” ujar Andrew. [ast/mdr]

 

reksa dana itu NAFAS PANJANG gw … 301109

Filed under: Investasi Reksa Dana — bumi2009fans @ 6:06 am

… ini bukti bahwa reksa dana saham gw LUMAYAN FULL bo :  http://investasireksadanaindonesia09.blogspot.com/2009/11/unjukkan-dadamu-reksa-dana.html

Michael Steven, BAMBOO INVESTING PENYADARAN INVESTASI MASA DEPAN
30/11/2009 00:20:27 WIB
JAKARTA, INVESTOR DAILY
Berdiskusi dengan Miachael Steven sangat mengasyikkan dan tidak membosankan. Sekalipun pengetahuan dan pengalaman di bidang keuangan, pasar modal cukup mendalam, Michael masih mau berbagi dan mendengar pikiran orang lain. Salah satu pemikiran orang lain yang diserap Michael adalah nama Bamboo Investing. ”Nama itu saya peroleh dari ngobrol dengan teman di rumah makan yang kebetulan ada bambu-bambunya,” demikian ungkap Direktur Utama PT Kresna Graha Sekurindo Tbk di kantornya.

Melalui pola Bamboo Investing, Michael berharap akan ada perubahan pola investasi masyarakat dari yang awalnya tabungan menjadi reksa dana. Tabungan oleh masyarakat sudah dikenal sejak lama sebagai insturmen investasi guna menyimpan hasil pendapatannya. Namun seiring perkembangan produk keuangan yang lebih canggih dan menjanjikan keuntungan yang lebih baik, fungsi tabungan sebagai alat investasi mulai berkurang dan tergantikan oleh reksa dana. ” Jadi kalau dulu masyarakat ada uang ditabung, kini ada uang dibelikan reksa dana, ada uang belikan reksadana,” ujar bapak tiga orang anak ini.

Dunia pasar modal yang telah digelutinya selama 23 tahun, boleh dibilang telah menjadi pilihan dalam pengembangan bisnisnya. Bagi Michael pasar modal bukan sekedar transaksi saham. Melalui pasar modal ini pula ada kepuasan tersendiri bagi dirinya, setidaknya bila dia mampu membawa perusahaan kecil yang tertutup menjadi perusahaan publik yang besar. ”Itulah kepuasan lain dari pasar modal,” akunya. Karena itu pula, melalui bendera Kresna Graha Sekurindo yang dirintis bersama teman-temannya, Michael berharap satu saat nanti, perusahaan itu akan menjadi holding yang akan membawahi berbagai bisnis yang akan diterjuninya.

Guna mengetahui apa harapan Michael dari pasar modal, serta bagaimana kiprah Kresna Graha dalam industri jasa keuangan serta memasyarakatkan pasar modal, Muhammad Ali, redaktur dan Tino fotografer Investor Daily mewawancarai Michael di kantornya. Berikut petikannya;

Anda kerap mengkampanyekan Bamboo Investing, apa sih Bamboo Investing itu?
Begini, Saya punya keinginan agar masyarakat bisa mengubah pola investasinya dari hanya menabung, menjadi investasi di pasar modal dengan membuat pola investasi seperti menabung. Dan memang kami akan arahkan Bamboo Investing menjadi investasi ritel lebih luas lagi, seperti celengan di mana orang rutin menabung dari kecil hingga besar untuk masa depan mereka.

Tanggapan pola investasi Bamboo Investing oleh masyarakat di berbagai kota, seperti Medan, Surabaya dan lainnya cukup baik. Jadi kita akan berusaha mengajak masyarakat untuk mencoba menabung untuk berinvestasi. Prinsip kita akan mengajak masyarakat membelikan reksadana saham secara kontuinitas, seperti menabung.

Loh apa bukan investasi di pasar modal berisiko besar ?
Kalau risiko di manapun ada, tapi menurut perhitungan kami, risiko pola Bamboo Investing sangat minim. Karena nasabah terus membeli (tabung) reksadana kita secara periodik dengan menggunakan pola everaging. Jadi Bamboo investing, itu berinvestasi secara berkala dan bertahap priodik dalam reksa dana saham pilihan. Apakah saham naik atau turun, nasabah sudah memastikan secara priodik akan membeli reksa dana tersebut. Sehingga secara rata-rata akan diperoleh harga pembeliaan reksa dana di level harga rata-rata.

Apa alasan mengajak masyarakat berinvestasi di pasar modal?
Potensi Indonesia untuk bertumbuh cukup besar, ini ditandai dengan PDB kita yang sudah masuk dalam 20 besar negara di dunia. Dan kalau ekonomi terus berrumbuh, maka pasar modal akan lebih cepat tumbuhnya, yang berarti invesatsi di pasar modal sangat menjanjikan. Itu lah alasan mengapa Kresna gencar mengajak masyarakat untuk berinvestasi di pasar modal.

Sebenarnya sejak kapan Anda tertarik berinvestasi di pasar modal?
Kalau pasar modal saya kenal sejak masa kuliah di Amerika, saat itu saya mencoba membeli saham, foreign exchange (forex), gold dan lainnya. Saya saat itu cenderung trading bukan investasi. Saya pernah bermain saham hingga 15 kali untung, tapi ada juga kerugiaan.

Pengalaman apa yang menarik di pasar modal?
Menurut saya yang sangat menarik bermain di pasar modal, yaitu bagaimana kita mengelola dua kutub yang berseberangan, yaitu kutub keserakahan dan kutub kekhawatiran (Gread dan Fear). Dan itu memang tidak mudah dan itu sesuatu yang berat, kita kadang melihat opportunity itu adalah kesempatan yang mendorong kita pada keserakahan. Kadang kita harus melihat bahwa opportunity itu ada risikonya, hingga membuat kita jadi khawatir.

Apa yang membuat Anda begitu tertarik dengan pasar modal?
Kenapa saya berminat berbisnis di pasar modal, jangan semata hanya dilihat dari bermain sahamnya, tapi lebih pada upaya membantu perusahaan agar bisa bertumbuh cepat. Melalui pasar modal, Kresna bisa membantu perusahaan yang punya kemampuan berkembang untuk menjadi besar dengan kita bawa ke pasar modal. Dan kalau itu berhasil, tentu menjadi kebanggan tersendiri bagi saya.

Saya bersyukur, bukan cuma bisa berbisnis, tapi juga bisa menjalankan peran membantu perusahaan kecil yang punya kreadibilitas dan akan berkembang untuk masuk pasar modal.

Selain dikenal sebagai broker, Kresna juga memiliki manajer investasi, bagaimana perkembangan manajer investasi Kresna?
Saat ini ada kebijakan dari Bapepam untuk pengetatan produk reksa dana, karena kasus Antaboga dan lainnya. Hal ini sebenarnya baik, tapi berdampak untuk Kresna. Saat ini distribusi produk lebih lama karena ada birokrasi tambahan. Tapi nggak apa-apa karena market dianggapnya masih recovery.
Perkembangan MI Kresna cukup bagus, sejak 2003 hingga 2005, waktu terjadi krisis, Kresna menjadi MI yang cukup kompeten.

Mengapa Kresna telat masuk bisnis Manajer Investasi?
Sebenarnya nggak telat, kami bentuk MI dua tahun setelah berdiri, sekitar 2002. Memang MI kami tidak agresif, sehingga pada 2003 dan 2005, kita berhasil menghindari crash di tengah banyaknya MI yang hancur. Tahun 2005, kami satu-satunya MI dengan AUM Rp 1 triliun, tidak minus dan bisa diredemption. Tahun 2006 ada industri reksa dana healing, tahun 2007 sudah lumayan. Ketika ada penurunan, tidak minus terlalu jauh, tapi tahun 2008 anjlok lagi.

Kami bisa terhindar dari hal-hal tersebut karena ada antisipasi, dan memang konservatif. Kami hanya mencapai AUM Rp 2-3 triliun dalam 3 tahun. Saat ini tidak mau ditingkatkan terlalu besar, tapi make sure bisa lewati penurunan pasar dengan sehat.

Bagaimana untuk tahun ini dan tahun depan?
2009 sebenarnya sudah mulai akan agresif, tapi sudah banyak aturan untuk reksa dana. Dan bank sudah mulai mengurangi distribusi reksa dana. Kresna sendiri akan masuk bank yang baru, sehingga mau digenjot pada 2010.

Tahun depan diharapkan ada booming reksa dana. Saat ini produk andalan kami Kresna indeks fund LQ 45. ini yang diharapkan diinvestasikan dengan bamboo investing, soalnya selama ini banyak terjadi salah investasi. Dengan metode ini, investor bisa memperoleh dollar cost averaging. Kenapa? Karena cost harga akan mengikuti pergerakan indeks, sehingga investor dapat moving average price.

Tahun depan, kami juga sudah punya online trading. Ini memang sudah coba dilaksanakan tapi kemarin pasar kurang kondusif. Tahun pertama kami targetkan minimal 5.000 nasabah, tapi at least nantinya sampai 20.000 nasabah. Transaksi dari online diharapkan bisa mencapai Rp 150-200 miliar per hari, sehingga total jadi Rp 200-300 miliar sehari.

Bagaimana komposisi bisnis Kresna?
Saat ini kami punya tiga unit bisnis, yaitu bisnis brokerage, manajer investasi serta pembiayaan dan investment banking. Nantinya kita harapkan komposisi pendapatan Kresna dari tiga unit bisnis ini akan sama, yaitu masing-masing sekitar 30 persen.

Apakah ada rencana Kresna melebarkan sayap bisnis ke sektor riil?
Itu tidak menutup kemungkinan, apakah sektor perkebunan, pertanian resources ataupun bisnis pemanfaatan teknologi untuk sektor riril.

Kita saat ini baru konsentrasi sektor keuangan, dengan masuk pada bisnis asuransi jiwa melalui pembeliaan asuransi Mira Life yang kita ganti dengan Kresna Life.
Apakah ada rencana menjadikan Kresna sebagai holding atau grup usaha?
Kemugkinan itu ada saja, dan mudah-mudahan Kresna berkembang dan menjadi lebih besar. Kita lagi pikirkan apakah akan jadi financial holding ataupun holding dan itu masih jangka panjang

Kresna Anda dirikan bersama teman-teman, bagaimana itu bisa terjadi?
Yah dari awalnya kita memang saling kenal dan setelah sepakat, mereka meminta saya untuk memimpin perusahaan. Kalau di bilang mengapa bisa? Yah kita ini kan seperti pemain drama yang cuma menjalankan skrip yang sudah ditetapkan oleh Yang Atas. Tapi kita tidak tahu akhir dari drama ini seperti apa. Karena itu kami syukuri saja peran ini.

 

seharusnya imbas koreksi ihsg sudah tidak terlalu dalam lagi (2)… 291109 29 November 2009

Filed under: Investasi dan Risiko — bumi2009fans @ 10:22 pm

Dampak Dubai World Bakal Mereda
Minggu, 29 November 2009 | 17:28 WIB

TEMPO Interaktif, Jakarta – Gagal bayar (default) yang dialami perusahaan properti Dubai World dari Uni Emairat Arab memicu kepanikan investor sehingga merontokkan bursa saham global pekan lalu. Bursa lokal masih terselamatkan karena pada Jumat lalu transaksi libur seiring perayaan Idul Adha saat bursa regional kembali diterpa tekanan jual.

Indeks harga saham gabungan (IHSG) di Bursa Efek Indonesia pada Kamis pekan lalu anjlok 68,01 poin atau 2,76 persen. Secara akumulasi sepekan indeks terkoreksi cukup dalam 93,846 poin atau 3,77 persen ke level 2.393,519 dari posisi pekan sebelumnya di 2.487,365. Untuk pertama kali indeks ditutup di bawah level 2.400 sejak 11 November lalu.

Wakil kepala Riset dari PT Valbury Asia Securitie, Nico Omer Jonckeere, mengemukakan dampak kasus Dubai World pekan ini akan mereda dan tidak setajam pekan lalu. Hal ini bisa dilihat dari bursa Eropa yang ditutup positif akhir pekan lalu. Yang menjadi pertanyaan adalah bursa Wall Street masih akan melanjutkan kejatuhannya pekan ini.

Indeks akan cenderung konsolidasi di awal pekan ini. Pada sesi pembukaan Senin (30/11) indeks diprediksikan masih mengalami tekanan namun berpeluang naik di sesi kedua. Jatuhnya indeks yang cukup dalam ini justru membuka peluang untuk membeli saham saat harganya sudah terdiskon. “Dan peluang indeks untuk berbalik naikpun kembali terbuka,” ucapnya.

Inflasi yang diperkirakan lebih rendah dan bahkan berpeluang terjadi deflasi pada bulan November tidak banyak berpengaruh terhadap indeks. “Suku bunga yang diperkirakan tetap bertahan di posisi 6,5 persen juga tidak akan banyak direspons investor pekan ini,” kata Nico yang memprediksi sepanjang pekan ini indeks bergerak dalam kisaran antara 2.300 hingga 2.445.

Menurut Nico, masalah gagal bayar yang dialami Dubai World hanyalah ajang pemanasan menuju 2010. Karena pada semester kedua tahun depan, ekonomi global diperkirakan memasuki fase depresi ketika banyak perusahaan properti Amerika Serikat yang mengalami masalah serupa. Penyitaan rumah juga akan berlanjut dan cenderung meningkat. Angka pengangguran juga masih tinggi.

Banyaknya korporasi yang bermasalah pada 2010 tentunya berimbas pula terhadap pendapatan. “Dan efeknya juga akan dirasakan ke bursa,” tuturnya. Bahkan, indeks diproyeksikan bisa anjlok hingga 50 persen dari level tertingginya tahun ini. “Jadi, langkah yang paling bijaksana adalah jual semua portofolio saham di semester pertama tahun ini,” tutur Nico.

VIVA B. KUSNANDAR

 

… it’s not enough :( … 291109

Filed under: Investasi dan Risiko — bumi2009fans @ 10:17 pm

UAE moves to counter Dubai fallout but markets wary
Sun Nov 29, 2009 1:55pm EST
By Martin Dokoupil and Enjy Kiwan

DUBAI (Reuters) – The United Arab Emirates offered banks emergency support on Sunday, the first steps to ease fears that a looming debt default by two of Dubai’s flagship firms could derail the global economic recovery.

But the move to inject liquidity into Dubai’s banks by the central bank of the Gulf Arab state, together with promises by neighboring city-state Abu Dhabi to provide selective support to Dubai companies was seen as by analysts as the bare minimum.

Dubai markets, which are set to open on Monday morning after a four-day holiday, are expected to fall by the maximum daily limit of 10 percent as banks, property and construction firms face investor ire over moves to restructure the Dubai economy.

The action of the UAE central bank to allay concerns by setting up an emergency liquidity facility was viewed as a necessary, but minimal policy response.

“This is the absolute minimum they could have done and suggests they won’t be making another announcement before tomorrow morning, which is a little disappointing,” said Raj Madha, banking analyst at EFG-Hermes.

Regional investors want any sort of guidance from the central bank or government ahead of the market open as rumors about the scope and origin of the crisis run rampant.

The supreme fiscal committee of Dubai met on Sunday evening to hammer out potential policy responses. But in the absence of concrete policy statements, doubt is likely to prevail.

The crisis began on November 25 when Dubai, part of the United Arab Emirates federation, asked to delay payment on billions of dollars of debt issued by conglomerate Dubai World and its main property subsidiary Nakheel, developer of three palm shaped islands that has attracted celebrities and the super-rich.

Dubai World had $59 billion of liabilities as of August, most of Dubai’s total debt of $80 billion. International banks’ exposure related to Dubai World could reach $12 billion in syndicated and bilateral loans, banking sources told Thomson Reuters LPC.

Investors are especially keen to discover whether the six-month “standstill” on debt repayments to Dubai World and Nakheel will be voluntary or involuntary. If creditors are not given a choice, the restructuring will be viewed as a default.

SLOW RESPONSE SO FAR

Abu Dhabi, the wealthy capital of the United Arab Emirates, will “pick and choose” how to assist debt-laden neighbor Dubai, a senior official said on Saturday.

“We will look at Dubai’s commitments and approach them on a case-by-case basis. It does not mean that Abu Dhabi will underwrite all of their debts,” the official in the government of the adjoining emirate of Abu Dhabi told Reuters by phone.

Selective assistance for companies in “Dubai Inc.,” a network of quasi-sovereign industries, instead of blanket assistance, would serve a rude awakening to investors. For years, many assumed that the conservative Abu Dhabi provided a safety net for its racier neighbor, which is known for its flashy nightlife and is home to the world’s tallest building.

While around the world, politicians, central bank officials and corporate executives have lined up to express concern at the risks of the Dubai debt crisis hitting their own economies, leaders in the UAE have remained quiet or minimized any threats.

Local media, mostly owned or controlled by government-related entities or vested interests, initially ignored the gravity of the crisis and have now taken to criticizing foreign media for blowing events out of proportion.

A headline from Arabic-language daily Al-bayan on Sunday read: “Dubai is exemplary for investment destinations.” English-language Gulf News said: “Global outcry over Dubai World restructuring is exaggerated.”

Dubai’s depressed property market may see further price declines of around 20 percent to 30 percent and increased concern over the availability of finance after the emirate it delayed debt payments at two of its flagship firms, analysts said. Renewed job cuts could further hurt housing demand.

GLOBAL SHOCK

The crisis in the business hub of the world’s biggest oil exporting region has spotlighted the Gulf’s lack of economic transparency, and proved an awkward reminder of the risks of investing in emerging markets from Russia to Greece to Mexico.

Analysts said the timing of the news on the eve of the Muslim Eid al-Adha holiday, the lack of prior communication with investors, and the scant details given on the plans has dented Dubai’s credibility.

In response, investors around the globe have dumped stocks, bonds, currencies and commodities since Thursday of last week, and sought safe havens in assets such as gold or the U.S. dollar.

The sell-off began in Europe, spread to Asia and then the United States, whose markets were closed on Thursday for the Thanksgiving holiday. European markets dropped 3.0 percent on Thursday but rebounded on Friday, while U.S. stocks closed down 1.0 percent on Friday in response to the Dubai news.

On Friday, one of the world’s leading fund managers said that rising fears of a possible debt default at Dubai’s biggest company was acting as a catalyst for an “overdue correction” in equities and risk assets following an eight-month rally. Fund managers have been playing catch-up after the financial crisis this year by plowing monies into many speculative investments.

“While many have acknowledged in the last few weeks the growing wedge between market valuations and economic and corporate realities, few have been willing to take their equity exposure down, Mohamed El-Erian, chief executive of Pimco, the top bond fund manager, told Reuters on Friday.

“The Dubai announcement is serving as this catalyst.”

(Writing by Eric Auchard and Tom Atkins; Additional reporting by Raissa Kasolowsky, Martina Fuchs, Rania Oteify, Jason Benham and John Irish in Dubai, Stanley Carvalho in Abu Dhabi and Jeremy Gaunt in London; Editing by Alison Williams)

UAE markets seen “limit down” on Monday open
Sun Nov 29, 2009 10:06am EST
By Enjy Kiwan

DUBAI (Reuters) – UAE markets will face intense selling pressure when they reopen on Monday in the first post-holiday trading after Dubai shocked global markets last week by seeking a debt standstill for two flagship firms.

Banks, property and construction firms will stand in the line of fire as investors weigh up the damage caused by the surprise move to restructure government-controlled Dubai World and its property arm Nakheel NAKHD.UL.

“We are probably going to see limit down, unless some sort of clarification of a plan or anything that would elevate investor concerns comes out in the morning,” said Haissam Al Arabi, head of hedge fund Gulfmena Alternative Investments. “Dubai will take Abu Dhabi down with it.”

Moves by the UAE central bank to allay concerns by setting up an emergency liquidity facility was viewed as a necessary albeit minimal policy response.

“It might support the market a little bit but I don’t think it is enough,” said Shawkut Raslan, head of brokerage at Prime Emirates brokerage.

“This is the absolute minimum they could have done and suggests they won’t be making another announcement before tomorrow morning, which is a little disappointing,” said Raj Madha, banking analyst at EFG-Hermes.

Equity markets came under severe pressure on Thursday after news that Dubai World, the government investment company burdened by $59 billion in liabilities, sought to delay repayment of some debt.

UAE markets open at 0600 GMT on Monday after closing for the Eid al-Adha holiday on November 26.

Regional investors are eager for any sort of guidance from the central bank or government ahead of the market open as rumors about the scope and origin of the crisis run rampant.

Arabtec ARTC.DU, the largest construction firm in the Middle East, is likely to suffer on doubts about contract payments from Nakheel. The two projects are worth 1.4 billion dirhams, according to a Cheuvreux report.

With storm clouds over the real estate market, Emaar EMAR.DU and Union Properties UPRO.DU will suffer as well. Dubai’s woes will likely drag regional listed firms such as Abu Dhabi-based Aldar ALDR.AD and Sorouh SOR.AD lower as well.

Saud Masud, UBS’ head of research and senior real estate analyst for the Middle East and North Africa, said the crisis will weigh heavily on real estate prices as well.

“The news plays on investor psyche and house prices may slide a further 20-30 percent earlier than our existing view of second half of 2011,” he said.

BANKS IN SPOTLIGHT

Banks will face pressure as investors measure damage to earnings or a threat to the smooth-functioning system.

“We have to see how ordinary bank depositors in Dubai react tomorrow given the uncertainty and knowing that the Central Bank is vigilant and capable to support the banking system,” John Sfakianakis, chief economist at Banque Saudi Fransi in Riyadh.

Some investors, however, will bet on a bailout and may use any selling to position themselves accordingly.

“Things won’t be bad for long. There will definitely be some sort of bailout or some kind of intervention,” says Gulfmena’s Al Arabi.

But in the absence of concrete policy statements, doubt is likely to prevail.

Investors are keen to discover whether the “standstill” will be voluntary or involuntary. If creditors are not given the choice the restructuring will be viewed as a default.

“There is a difference between restructuring and default, they are both negative but one is just really negative. They can just increase the coupon rate or something to make the restructuring more appealing,” said London-based Amr Aboushaban, senior equity sales at Merrill Lynch.

(Editing by Mike Nesbit)

 

AT LAST, THE LAST LENDER comes in … 291109

Filed under: Investasi dan Risiko — bumi2009fans @ 9:31 pm
U.A.E. Central Bank Stands Behind Lenders, Adds Funds (Update1)

By Arif Sharif

Nov. 29 (Bloomberg) — The United Arab Emirates’ central bank said it “stands behind” the country’s local and foreign banks, which face losses from Dubai World’s possible default, and offered them access to more money under a new facility.

The central bank will make available to banks “a special additional liquidity facility linked to the current accounts” at the central bank that can be drawn upon at a cost of 50 basis points above the three-month Emirates inter-bank offered rate, the Abu Dhabi-based regulator said in an e-mailed statement today.

Dubai World, a state-owned holding company struggling with $59 billion of debt and other liabilities, said Nov. 25 it would seek a “standstill” agreement with creditors. The news led to a slump in financial markets around the world and raised prospects of rising loan write-offs for U.A.E. and foreign banks.

“This is a very re-assuring move by the central bank in order to limit the risk of any run on Dubai-based banks,” said John Sfakianakis, chief economist at Banque Saudi Fransi in Riyadh. It will alleviate any “liquidity concerns by foreign banks about the banking system, mostly those based in Dubai,” he said.

The U.A.E.’s banking system is “more sound and liquid than a year ago” and local banks’ sale of medium-term notes and commercial paper in foreign markets has declined by 25 percent over the period, the central bank said. Foreign interbank deposits make up only 5 percent of overall interbank deposits, the central bank said in the statement.
UAE cbank sets up liquidity facility for banks
Sun Nov 29, 2009 8:43am EST
DUBAI (Reuters) – The United Arab Emirates’ central bank set up a facility on Sunday to support liquidity in the banking system Dubai’s government sought to delay debt payments from two of its flagship firms, sending global markets lower.

Dubai rocked the financial world on November 25 when it said it would ask creditors of Dubai World DBWLD.UL, the conglomerate behind its rapid expansion, and Nakheel NAKHD.UL, builder of its palm-shaped islands, to agree to a standstill on billions of dollars of debt as a first step to restructuring. “(The) central bank has issued a notice to UAE banks and branches of foreign banks operating in the UAE, making available to them a special additional liquidity facility linked to their current accounts at the central bank, at the rate of 50 basis points above the 3 months EIBOR (Emirates interbank offered rate),” it said in a statement.

The bank did not give more details, only saying that it stood behind UAE banks and branches of foreign banks operating in the UAE, adding the Gulf Arab country’s banking system was more sound and liquid than a year ago.

“It is important because the main concern is that there might be some panic behavior by depositors in Dubai and by bankers who want to take deposits out of the banking system,” said John Sfakianakis, chief economist at Banque Saudi Fransi-Credit Agricole Group in Riyadh.

“This will support the liquidity and the overall soundness of the banking system in the UAE and especially in Dubai. The central bank is sending a strong message to everyone that they are providing ample liquidity and the guarantee to banks in the UAE,” he said.

State-run Dubai World had $59 billion of liabilities as of August, a large proportion of Dubai’s total debt of $80 billion and repayment of Nakheel’s $3.5 billion worth of Islamic bonds, which were originally due to mature on December 14, was widely expected by the market to be met.

Last year, the UAE finance ministry poured $6.8 billion into bank deposits, the first tranche of a $19.1 billion rescue facility it set up to help lenders weather the onslaught of the global credit crisis.

It deposited another $6.8 billion into banks in November 2008, but has not made any statements since regarding the remainder of those funds. This came after the central bank set up a $13.6 billion emergency bank lending facility to combat the crisis.

(Reporting by Martin Dokoupil and Raissa Kasolowsky; editing by John Irish)
Bank Sentral UEA Dukung Bank Pemberi Utang
Minggu, 29 November 2009 | 21:41 WIB

TEMPO Interaktif, Dubai – Bank sentral Uni Emirat Arab (UEA) mengatakan akan “mendukung” perbankan asing dan lokal yang bakal menghadapi kerugian dari kemungkinan gagal bayar yang menimpa Dubai World, dan menawarkan akses tambahan pendanaan di bawah fasilitas baru.

Dalam pernyataannya lewat surat elektronik, Ahad (29/11) ini, bank sentral akan menyediakan bagi bank-bank tersebut “fasilitas likuiditas tambahan khusus dalam rekening baru” di bank sentral yang dapat ditarik dengan bunga 0,5 persen di atas suku bunga tiga bulanan sertifikat bank sentral UEA.

Dubai World, perusahaan investasi yang dimiliki pemerintah Dubai, tengah bergulat dengan utang dan kewajiban lain sebesar US$ 59 miliar, mengatakan pada Rabu lalu tengah meminta penangguhan pembayaran kepada kreditur.

“Kabar ini menjadi langkah yang sangat meyakinkan dari bank snetral untuk membatasi risiko setiap bank yang bermarkas di Dubai,” kata John Sfakianakis, kepala ekonom di Banque Saudi Fransi, Riyadh, Arab Saudi. “Langkah itu juga bakal mengurangi kekhawatiran likuiditas oleh perbankan asing terhadap sistem perbankan, yang kebanyakan bermarkas di Dubai.”

Sebelumnya, pejabat Dubai World yang enggan disebutkan identitasnya mengatakan para konglomerat yang menguasai perusahaan investasi itu menolak kemungkinan penjualan beberapa aset dengan harga diskon untuk menutupi sebagian utang US$ 60 miliar milik Dubai World.

Harian Al-Itihad yang terbit Ahad (29/11) ini mengutip sumber dari dalam mengatakan, bulan lalu Dubai World “menolak ide penjualan beberapa aset investasi dan real estate.”

Dubai World memiliki proyek mulai dari pelabuhan hingga real estate. Harian itu menyebutkan Rabu lalu, Dubai World meminta penangguhan pembayaran utang selama minimal enam bulan yang juga akan melindungi anak perusahaan propertinya, Nakheel PJSC. Nakheel memiliki utang US$ 3,5 miliar yang harus dilunaskan bulan depan.

Dubai World per Agustus lalu memiliki kewajiban US$ 59 miliar dari total utang US$ 80 miliar. Lembaga bisnis itu memiliki investasi dalam bidang transportasi dan logistik, galangan kering dan kelautan, pembangunan perkotaan sampai investasi dan jasa keuangan.

Kabar tersebut mengguncang pasar global dan menciptakan ketakutan baru bahwa perbankan terpukul oleh resesi keuangan global akibat dipaksa menelan kerugian-kerugian baru.

AP | BLOOMBERG | BOBBY CHANDRA
UAE central bank provides liquidity to banks
November 30, 2009 – 1:59AM the australian
The central bank of the United Arab Emirates said on Sunday it is providing banks with extra liquidity, stressing its support to the banking sector after Dubai World asked to suspend debt payments.

The bank said in a statement it had issued a notice to UAE banks and foreign banks operating in the UAE “making available to them special additional liquidity facility linked to their accounts at the central bank.”

The statement gave no indication of how much extra liquidity was being set aside for the banking system.

 

krisis melulu … gw mah sante dah … 291109

Filed under: Investasi dan Risiko — bumi2009fans @ 8:53 pm

Credit Crisis
What Does Credit Crisis Mean?
A crisis that occurs when several financial institutions issue or are sold high-risk loans that start to default. As borrowers default on their loans, the financial institutions that issued the loans stop receiving payments. This is followed by a period in which financial institutions redefine the riskiness of borrowers, making it difficult for debtors to find creditors.
Investopedia explains Credit Crisis
In the case of a credit crisis, banks either do not charge enough interest on loans or pay too much for the securitized loan, or the rating system does not rate the risk of the loans correctly. A crisis occurs when several factors combine in the marketplace, affecting a large number of investors.

For example, banks will charge teaser rates on loans, but when the initial low payments change, they become too high for borrowers to pay. The borrowers default on the loans, and the loan’s collateral value simultaneously drops. If enough lending institutions reduce the number of new loans issued, the economy will slow down, making it even harder for other borrowers to pay their loans.

… riwayat YANG TIDAK MAU DIBACA DAN DIALAMI LAGI PARA INVESTOR :   http://widerimage.reuters.com/timesofcrisis/

Nov. 27, 2009, 1:41 p.m. EST
Emerging markets become more costly
Governments impose investment regulations to thwart speculation

By Carla Mozee, MarketWatch
LOS ANGELES (MarketWatch) — Emerging-markets stocks and bonds have posted stunning returns this year, but foreign investors’ access may be limited and more expensive as some governments impose taxes, restrictions and even outright bans on transactions to curb speculative activity.

The surging value of emerging-market currencies is the root of the problem. Government controls are designed to regulate, discourage or halt capital flows in an effort to counteract investments that can undermine a country’s exchange rate or foreign-exchange reserves.

Holiday Sales Could Be Kink in Stock Surge
High unemployment and household debt will be a drag on the holiday shopping season. If it’s a bigger drag than expected, that doesn’t bode well for stocks. Stacey Delo interviews Barclays Global’s Russ Koesterich.

Brazil, China and Taiwan, for instance, have already put capital controls in place while officials in several other countries have hinted at similar moves.

Investors in countries with capital controls are finding it more costly to own shares. For example, in response to one of the two taxes Brazil recently levied on trading activity, Vanguard Group Inc. doubled the purchase fee for its emerging-markets mutual funds, including Emerging Markets Stock Index Fund (FUND:VEIEX) , to 0.50% from 0.25%.

“As long as emerging markets rally, the more countries will succumb” to imposing limits, said Win Thin, senior currency strategist at Brown Brothers Harriman.

Investor interest in emerging markets remains strong, he added. “But if they start really punishing foreign investors, [investors] are going to think twice. It’s very easy to lose market confidence and very difficult to get it back.”

Commands and controls

Citigroup this week downgraded Colombia’s equity market to neutral from overweight, saying that after meeting with the country’s central bank, it has the “impression that capital controls could once again be imposed” to curb the appreciation of the Colombian peso. The peso is up about 14% against the U.S. dollar so far this year.

In China, the foreign exchange regulator tightened rules on cross-border money transfers by individuals, bolstering efforts to quell inflows of funds on speculation the yuan is undervalued. Read about China’s new rule on money transfers.

Brazil, whose currency has jumped 35% so far this year, recently slapped a 2% tax on foreign purchases of Brazilian stocks and bonds. It also levied a 1.5% tax on purchases of U.S.-listed shares of Brazilian companies, which include heavyweights Petroleo Brasileiro (NYSE:PBR) and mining giant Vale (NYSE:VALE) .

There are also “rumblings” from Russia, Thin said. The ruble is up about 28% as its economy remains in recession but is flashing signs of recovery.

The appreciation in the currencies and securities markets have been fueled by bets that emerging markets, particularly commodity-rich countries, will pace global economic recovery.

“It’s cheap to fund in dollars right now and investors are looking for opportunities to put that money to work,” said Norberto Zaeit, head of treasuries and trading at Espirito Santo Investments in New York. “They see emerging markets, especially those that have done a good job lately on monetary policy, on fiscal discipline, and curbing inflation,” as good places to invest, he said.

But as values climb, governments become concerned that such activity will eventually hurt their economies, in large part by making their exports more expensive.

Also, “there’s concern that sudden [currency] appreciation might increase imports, which damages current accounts,” Zaeit said.

Even countries whose currencies haven’t posted double-digit gains are taking action. Taiwanese officials earlier this month banned foreign investors from putting money in a certain type of deposit account. The New Taiwan Dollar is up about 8% since hitting a five-year low in February, but is just up 2% for the year. Read more about Taiwan’s restriction.

Kazakhstan, whose currency has declined 19% against the greenback, has said it may impose a tax on short-term foreign investments.

Investors in emerging-market stock and bond funds will be the most affected by capital controls, particularly if they take the form of Brazil’s 2% tax, said Bradley Kay, an analyst covering exchange-traded funds at investment researcher Morningstar Inc.

“That’s generally going to cause larger bid/ask spreads, especially if you’re talking about creation in new shares. That’s something which you’re going to need a bigger incentive to overcome the tax to buy in,” said Kay.

The implementation of capital controls won’t particularly affect fees for ETFs because there’s no entry fee, Kay said. Investors pay a commission and trading firms, major investment banks and brokerages take those out of the premiums when they are creating new shares.

For example, iShares MSCI Brazil Index (NYSE:EWZ) is trading at “a very slight” premium of 1.2%. “So [investors] are not paying up the full cost of the 2% entry, but they are paying as part of it. There does seem to be a net inflow right now,” Kay said.

Brazil funds during the week of Nov. 6 saw their first outflows in eight weeks, but then booked inflows the following week, according to EPFR Global, a provider of international fund flow data. Brazil funds had absorbed $3.39 billion this year through October.

Brazil’s Bovespa equity index has shot up 79% in local currency terms and almost doubled in U.S. dollar terms since the end of last year.

Investors seeking an ETF alternative to Vanguard’s Emerging Markets Stocks Index Fund can buy its Emerging Markets Stock ETF (NYSE:VWO) .

Meanwhile, Colombia’s IGBC General equity index has nearly doubled this year. Capital controls, if imposed, would hurt the market “as it effectively raises the required rate of return, or hurdle rate, for most foreign investors,” wrote Geoffrey Dennis, global emerging markets strategist at Citigroup, in a note to clients following a research trip to Colombia, Chile and Peru.

Impact on investors

In his report, Dennis reminded investors that it wouldn’t be the first time that Colombia has imposed capital controls. All foreign inflows between May 2007 and September 2008 were subjected to a 0% interest, six-month deposit requirement at the central bank.

Brazil, in March of last year, issued a 1.5% tax on fixed-income inflows to cool the real’s surge. That tax was later dropped as the global financial crisis deepened.

Levying taxes is just one of many tools to implement capital controls, said Alfredo Coutino, director of Latin American research at Moody’s Economy.com. Governments can also establish savings funds of sovereign wealth funds to keep companies from bringing back U.S. dollars, for example, into their respective countries.

The worst capital controls that foreign investors can face, Coutino said, “is tax on capital, because that represents a punishment of foreign investors by the government.”

In contrast, he added, “The most acceptable measure is that the central bank accumulates more reserves. You can go to the country, you can put your dollars in the country.”

Espirito Santo’s Zaeit said periods of negative investor reaction will likely occur in the short-run in the wake of Brazil’s taxation efforts. But from the standpoint of a medium- to long-term investor, “the 2% tax is not going to hurt as much,” considering the growth prospects for Latin America’s largest economy.

Investors should keep tabs on emerging markets that impose capital controls, paying close attention to the rules imposed and how long the restrictions might last, said Bill Rocco, a senior fund analyst at Morningstar. He added: “The devil is in the details.”