Zece sfaturi de business de la unul dintre cei mai excentrici antreprenori, Richard Branson

Fondator al brandului Virgin în 1970, Richard Branson este singurul antreprenor care a construit opt companii în industrii diferite care valorează miliarde de dolari.

 

Britanicul a atins această performanţă fară a avea o diplomă în domeniu, scrie Business Insider.

"Deseori mă întreb cum ar fi fost viaţa şi cariera mea dacă aş fi continuat studiile suficient de mult încăt să învăţ toate lucrurile pe care trebuie (sau nu) să le faci pentru a demara o afacere", a afirmat omul de afaceri în noua sa carte, "Like a Virgin: Secrets They Won't Teach You at Business School".

În 1972 Richard Branson a inaugurat primul său magazin de discuri, Virgin Records cunoscut ulterior sub denumirea de Virgin Megastore. De altfel, brandul Virgin s-a dezvoltat rapid în anii 1980, odată cu apariţia pe piaţă a companiei de transport aerian Virgin Atlantic Airways.

Potrivit revistei Forbes, Richard Branson avea în 2011 o avere estimată la 4,2 miliarde de dolari.

Iată câteva dintre sfaturile lui Branson pentru succesul în afaceri:

1.Nu face un lucru dacă nu îţi face plăcere

A conduce o afacere presupune multă muncă, sudoare şi lacrimi (şi cofeină). Dar toate aceste se merită atât timp cât la sfârşitul zilei vei construi ceva de care eşti mândru.

2.Fii remarcabil

Publicitatea este cheia succesului. "Asigura-te că o să apari pe prima pagină şi nu pe ultima", este sfatul primit de Branson de la Sir Freddie Laker, un simbol în industria aviaţiei din Marea Britanie. 

  

3.Alege-ţi cu grijă numele companiei

Numele inedit al companiei "Virgin" este unul dintre elementele care au transformat această afacere într-un succes. "Virgin"a adus un plus de valoare companiei, o abordare fresh.

4.Asumă-ţi riscuri

Branson are o vorbă preferată când vine vorba de riscul în afaceri: Curajosul nu trăieşte pentru întotdeauna, însă precautul nu supravieţuieşte deloc.

Orice afacere implică riscuri iar succesul apare rareori când eşti precaut. Poţi avea eşecuri dar nu există "eşec total", spune Branson.

5.Prima impresie este esenţială. La fel de importantă este şi a doua

Pentru Branson, a doua impresie se referă la situaţia când un client contactează compania pentru eventualele probleme cu produsele. Modul în care te prezinţi în astfel de situaţii spune multe despre capacitatea companiei de a menţine relaţii bune cu clienţii şi de a depăşi obstacole.

6.Perfecţiunea nu poate fi atinsă

Oricât de perfect poate părea ceva, întotdeauna există loc pentru mai bine.

7.Clientul are (aproape) întotdeauna dreptate

Opiniile clienţilor sunt importante, însă nu ar trebui să-ţi construieşti întreaga divizie de servicii cu clienţii după premisa că nu te vei îndoi niciodată de capriciile consumatorilor.

8.Defineşte-ţi brandul

Când vine vorba de definirea brandului, Branson sfătuieşte antreprenorii să facă exact ceea ce el nu a făcut cu Virgin, să răspândească vestea existenţei companiei peste tot.

Deşi Virgin activează în mai multe industrii, compania este centrată pe un singur lucru: "să găsească modalităţi noi pentru ca oamenii să se simtă bine".

9.Nu oricine este potrivit pentru funcţia de director

Un manager trebuie să fie cineva capabil "să scoată ce e mai bun din oameni", să ajute un angajat să înveţe din greşeala sa, nu sa îl critice pentru ea.

Proprietarul unei companii "poate fi" şi nu "trebuie să fie" preşedinte al companiei. Acesta trebuie să conştientizeze dacă postul i se potriveşte sau nu.

10.Nu te teme de schimbări dar fii pregătit de ele

Nimic nu durează la nesfârşit. Un antreprenor trebuie să fie pregătit să se adapteze la noi situaţii, determinate de diferite circumstanţe şi oportunităţi.

Union bank, the Franco-German vision - Francois Hollande / Angela Merkel

Angela Merkel and Francois Hollande and Saturday reaffirmed their differences in terms of banking supervision in the European Union, amid beautiful indestructible related statements Franco-German friendship, writes AFP.
"The sooner, the better," said the French president, in a joint conference with German Chancellor at Asberg (southwest Germany). Will last "as you have," replied Angela Merkel.
Paris wants European countries to acquire such a mechanism in January 2013, while Germany seems less pressing.
The question is to know "how do you account for all possible institutions," said Hollande, after a working lunch with Merkel in Ludwigsburg, Asberg not far from where the 50th anniversary of General de Gaulle's historic speech addressed to the German youth.
As the European Commission, Paris wants to entrust the European Central Bank (ECB) supervision of about 6,000 banks in the euro area, while Berlin prefer to limit this task only for large financial institutions.
"For me, the importance is quality. Serves no purpose to do things very quickly and then not work," said Angela Merkel.

"You must be serious, have quality time and see how long (...) We ask our Finance Ministers to work as quickly as possible," she said.
Regarding other thorny file of the day the merger of giants EADS and BAE, the two leaders were more elusive.
"I made decisions, we know that we have to give in the near future companies answer. Discussions were good and friendly. But the details have not debated in public, especially considering jobs," said Angela Merkel .
Previous press conference, the two leaders praised each other on the Franco-German language in front of several thousand people gathered in the courtyard of Ludwigsburg castle.
"Long live Franco-German youth, European youth live," he said, in French, Chancellor. In response, Hollande addressed in German youth: "Your role is to give the European dream reality and give them a future. Viva Franco-German friendship."Then ask what characterizes their personal relationships, Merkel has described as "friendly" because "both trying to do what is best for the progress of the two countries and that of Europe."
As it concerns the Hollande, he referred to the "Merkozy" awarded during the Franco-German presidency of Nicolas Sarkozy: "Do we need to unite to give a new name patronymic European political behavior because it is our conception. (...). looking to train compromise the others. "

Crucial decision for the future of the EU: Germany's Constitutional Court authorized the euro rescue mechanism

German Constitutional Court approved the administration Wednesday to adopt the Berlin of the latest Eurozone rescue mechanisms: European Stability Mechanism (ESM) and the Treaty on Stability Coordination and Governance (TSCG) in the Economic and Monetary Union, informs AFP .
Moreover, judges have set a limit Germany's financial involvement in setting up the ESM. According to the German Constitutional Court, the funds provided by Germany not to exceed 190 billion euros. A change in the amount can not be done without the approval of the German parliament, said the Supreme Court in Karlsruhe.
German President Joachim Gauck received such permission to sign documents which regulates European Stability Mechanism and Stability Treaty in the Economic and Monetary Union adopted by the German Parliament in late June.
"The second room of the Federal Constitutional Court rejected the amendment which stipulated that a ratification of the ESM can not be envisaged unless there are safeguards in conformity with international law," said Court.
Thus, the government in Berlin has permission to participate in government emergency fund of 500 billion euros of euro area countries.

German Constutionala Court has previously rejected a last attempt to delay its decision on the permanent bailout fund euro area. This decision means that the long-awaited decision of the Court of ratification European Stability Mechanism will be made on Wednesday as it was originally intended, reports Der Spiegel.
Another obstacle in the way European leaders to counter eurozone crisis was overcome. Germany's Constitutional Court has rejected a new petition, belonging to Peter Gauweiler, a member of the German parliament. Court discussed the petition of Gauweiler in the afternoon on Monday and announced its decision earlier Tuesday.
The decision means that on Wednesday, the Court will anuta long awaited decision on the European Stability Mechanism (ESM), the permanent eurozone rescue, as was originally planned.
Gauweiler, a member of the conservative party Christian Social Union (CSU), tried to postpone decision on ESM Court requesting it to hold another meeting. He argued in the petition that the announcement last week by the European Central Bank, which said it would buy unlimited amounts of government bonds of euro area Member States in difficulty, increase the financial risk to taxpayers.
He also said the ECB's operations are not subject to any parliamentary control.
This, says Gauweiler, "has created an entirely new situation" which the Court must take into account when considering the original petitions against ESM and Fiscal Pact.
"Almost all the discussions that have taken place so far are invalid," he said.
MSE Gauweiler wanted ratification of the Constitutional Court will be postponed until the ECB will reverse its decision to purchase sovereign bonds. He argued that, if necessary, the Court should stay its proceedings scheduled for September 12 relief fund.

MES has a total value of 500 billion euros, as Germany contribute to this fund by 27% from Germany ratification is essential.
Additionally verdict on the ESM, the Constitutional Court must also rule on the new fiscal treaty, adopted in a bid to force euro area governments to adopt stricter budget discipline.
Possibility of postponing the decision of the Court has created uncertainty in Berlin and Brussels. MSE is an essential element in addressing European leaders on fighting the eurozone crisis and was originally envisaged that it will be operational from 1 July and another delay could disrupt financial markets.
However, most of the politicians in Berlin, including Chancellor Angela Merkel believes Wednesday's decision will be in favor of ratification Court MSE.

Reuters Analysis: Week dangerous for Eurozone. Draghi's project to save the single currency, a ray of hope

Euro zone enters a rough week, filled with potential surprises, but in a more optimistic mood as investors welcomed the project proposed by the European Central Bank Governor Mario Draghi, designed to prevent a possible dissolution of the monetary union, writes Reuters.
According to British agents, judges Germans, Dutch voters, IMF inspectors and authorities in Brussels are the main players that could next week to launch potentially "explosive mines" to hinder resolving the sovereign debt crisis.
Wednesday is a day with three key important events. German Constitutional Court will give a ruling on the legality permanent bailout fund, the European Commission will present detailed plans for a union bank in the Eurozone and the Netherlands organize general elections.
European finance ministers meet on Friday to discuss the Cyprus banking supervision and further possible support for Spain, the fourth largest economy in the Eurozone and Greece, the country that triggered ceiza issue sovereign debt.
Decisions regarding Spain and Greece are expected in October, but talks could indicate whether the administration will ask the Madrid European aid, with the risk of being subjected to harsh conditions and supervision. Also, the debate could indicate whether the EU and IMF lean toward granting a new tranche of aid to Greece.

 Germany: A verdict that could threaten aid to indebted states
German Constitutional Court decision was expected for two months. According to the lawyers consulted by Reuters, it is likely that judges give a verdict in favor of the European Stability Mechanism and an EU pact of fiscal discipline, but is expected to add tough conditions for further help.
Such a decision could affect the willingness Chancellor Angela Merkel said the bailout's future, especially given that the European Central Bank's decision to buy bonds fragile States was received negatively by German public opinion.
A verdict against European Stability Mechanism would have a devastating effect on bond markets and exchange rate turbulence creating new monetary union and raising questions about whether the rescue of heavily indebted states.
On the other hand, a favorable decision but with limitations could scare off investors and would complicate crisis management.
Judges decision could attach an amendment that gives Parliament a veto over future aid or whether to limit liability for the debts of other countries German monetary union.
Elections in the Netherlands, a chance for rising populist?
Regarding the legislative elections in the Netherlands for several months it was thought that they would result in either a block or a Eurosceptic government either extreme left or extreme right, which would support future bailouts Eurozone members in critical condition.

The latest opinion polls show, however, that the center-right Liberal Prime Minister Mark Rutte and the center-left Labour party are tied while their support of left parties and the populist anti-immigration with policies is declining. In these circumstances, the elections could result in a pro-European coalition.
Such an alliance could have but need a few months of negotiations before the Netherlands, a founding member of the European Union to have a government in power fullness so that plans for tighter integration in the euro zone should be postponed.

Thorny issue of banking supervision
The land bank has already started a dispute between proposals for a unified system of banking supervision conducted by the ECB and a new banking system that the new European Commission President Jose Manuel Barroso, are about to appear before the European Parliament.
Germany, keen to keep their state-owned banks and the savings on to foreign control, insisting that the ECB should supervise only the top 25 cross-border systemic banks and leave the rest of the banks under national regulations.
German Finance Minister Wolfgang Schaeuble said the ECB can not monitor all the 6000 euro area banks. According to the Bruegel think-thank, but the real problem lies in the approximately 200 banks that hold approximately 95% of banking assets.
European Commission and the ECB want to apply supervision to all creditors, even if by delegating responsibility to the national tier and the plan seems to be seen in the eyes of bankers.

"If we all banks in the same supervisory mechanism, this would ensure a balance of competition," said chief executive of UniCredit Italy, Federico Ghizzoni, told Reuters adding that "not only big banks systemic risks."
German lawmakers fiercely oppose but long-term plans for a pool and a deposit insurance system, which could present Barroso in his speech Wednesday.

GOOD NEWS from BCE : "We have a powerful tool to avoid damaging scenarios with possible severe challenges for price stability," Draghi said, quoted by Bloomberg.

European Central Bank (ECB), the guardian of the euro, monetary policy has kept interest at 0.75% in yesterday's meeting the Governing Council and the President of the institution, Mario Draghi, has announced a program of bond purchases Unlimited, part of efforts control to bring high interest rates the borrower some euro area countries. Criticism of the plan did not fail to appear.
"We have a powerful tool to avoid damaging scenarios with possible severe challenges for price stability," Draghi said, quoted by Bloomberg. Previous program run by ECB bond purchases (Securities Markets Programme - SMP) ended, he said, adding that the ECB should be in place to ensure the transmission of bank rates to all Member States of the euro area.
Head ECB's credibility at stake with bond purchase plan announcement, saying MEPs this week that the ECB should intervene to regain control fragmented interest in the euro area economy and save the single currency. States with problems, Spain and Italy, can start an application program for emergency financial aid to fund the euro area, the European Stability Mechanism. But his support is conditional on austerity measures.

"Governments must be prepared to operate" emergency fund bond markets when necessary and "strict conditions and effective," said Draghi. The ECB reserves the right to discontinue purchases of bonds if governments do not trespectă commitments. Purchases will be sterilized completely, so that the impact on money supply is neutral, and the bank will publish monthly data by country on bonds it holds. Maturity bonds covered by the ECB on the secondary market will be for 1-3 years without a limitation on randamentelelor and institution will have the same status as any other creditor countries.
Critics
"There was nothing new. Much depends on the country that requires help European Stability Mechanism and Spain does not seem ready. This means that many decisions remain in the hands of politicians. Germany may impose tough conditions of a potential plan to stop Rajoy Spanish (Prime Minister of Spain, no) to accept help, "commented François Savary, CIO of Swiss financial group Reyl for The Telegraph.
Edward Smyth, director of investments at JN Financial London, was of the view that Draghi "has not done enough to restore confidence at this turning point."

Ranvir Singh, chief executive RANsquawk, said that Germany wants to stand in the way will not be easy. "For the Bundesbank, to keep inflation under control is something holy and bank president did not hide the fact that the ECB plan to buy the debts of weaker eurozone economies will be the road to ruin," he said, quoted by the Guardian.
Jason Conibear, Director of Trading at Cambridge Mercantile, wonders whether the ECB will be forced to write checks and greater than or promise on holding his vast powers will be enough to calm markets.
He believes that the ECB can not do much to save the euro. Worse prognosis ECB eurozone economic growth this year and next because of higher uncertainty on adjustment measures in the financial and non-financial, high unemployment and uneven global recovery.
Thus, euro area GDP this year will record a decrease of -0.6% and -0.2%, while the forecast for 2013 is between -0.4% and 1.4%.
In June, the ECB predict a GDP growth between -0.5% and 0.3% this year and 0 to 2% in 2013.
Its liquidity
Firefighters were called to the headquarters of the European Central Bank (ECB) for "emergency cash", writes the Financial Times, after they were asked yesterday to intervene in the institution's headquarters in Frankfurt.
"The ECB someone to sing a little too literally Lich emergency calls?", Asked publication, commenting that no analyst has predicted the situation.

Bundesbank head may resign over plan ECB bond buying - why Jens Weidmann isn't agree ???

President of the Bundesbank, the German central bank, Jens Weidmann, she decided to resign due to plan the European Central Bank (ECB) to resume purchases of sovereign bonds, which has strained relations between these institutions, according to German newspaper Bild quoted by Bloomberg.
Bundesbank representatives declined to comment on the information.
"Weidmann expressed his views in an interview with Der Spiegel," said a spokesman for the Bundesbank, Michael Best.
According to sources quoted by Bild, Weidmann considered resigned because ECB plan for a new round of bond purchases of sovereign and discussed this possibility with board members BundesbankWeidmann, the only member of the Governing Council who opposed the plan, decided to remain in office to defend position at next monetary policy meeting next week.
Bundesbank has become increasingly isolated as the ECB has advanced more than an unmarked teritioriu its policy to combat the debt crisis.

Former head of the Bundesbank, Axel Weber, resigned in April last year in part because of his opposition to the ECB the first to purchase sovereign bonds.
ECB chief economist, Juergen Stark, who previously was the vice president of the Bundesbank, resigned in late 2011 to protest against these acquisitions, in his view, violate the line between monetary and fiscal policy.
Weidmann German Government asked to remain in office, told Bild.Weidmann told Der Spiegel that a new wave of bond purchases by the ECB could increase dependence on government for this type of financing and will not solve the debt crisis.
ECB President Mario Draghi responded to an article in Die Zeit, which said that fulfilling the mandate of the central bank sometimes requires unconventional measures.
Draghi announced the plan in early august is buying bonds in the secondary market to reduce interest rates European countries requiring rescue fund to buy bonds on the primary market.

Treichl: Eastern Europe overcome the toughest effects of the euro crisis - positive news :)

Director General of Erste Group Bank, present in Romania through BCR, said Eastern Europe has gone over the toughest EFCT of sovereign debt crisis in the euro area Bloomberg.

"I do not expect to worsen the situation, but it is pretty bad at the moment. Mainly because credit growth is relatively weak for now, understandably in that general feeling that hit Europe also affected Central and Eastern Europe" said Treichl in an interview with Bloomberg in Alpbach, Austria.

He added that margins and returns that can be achieved in Central and Eastern Europe are significantly better than in Western Europe.

"The total efficiency of banks in those markets is much better than at home," added the head of Erste.

Eastern Europe can "hope for growth," he added.

"We have a fantastic - subpenetrate banking markets, people with incomes significantly lower than in Eastern Europe, but much more productive," he stated Treichl, referring to Eastern Europe.

He described the Russian Sberbank group entry in the region as a "good sign" because it shows that Russians "believe in the future of the region". Sberbank has taken over operations of Volksbank International, with the exception of Romania, who remained in the Austrian portfolio.

POSITIVE NEWS from European Financial Stability Fund (EFSF)

European Stability Mechanism (ESM), to finance the euro-area countries in difficulty should become operational in October, said yesterday Director European Financial Stability Fund (EFSF), Klaus Regling German.

 
At $ 500 billion, this mechanism, which will replace the EFSF, will be able to directly recapitalize banks and buy bonds on the secondary market. Initially, the ESM should have come into effect in July, but the law has not yet been ratified by large countries such as Germany, Italy and Spain.
 

In Germany, the Constitutional Court must vote on the issue on 12 September, following several complaints, especially from the radical left.
 

The decision may determine, according to some analysts, quoted by Mediafax, or survival of the single currency, while the ESM can not be deprived of its main contributor, Germany.

POSITIVE NEWS from FED - Bernanke: Fed could make new purchases of bonds to support the U.S. economy

President Federal Reserve (Fed), Ben Bernanke, said Friday that the central bank does not exclude new purchases of bonds to support economic growth and reduce unemployment in the U.S., which it considers a "serious concern," Bloomberg .

"Nonconformist policy costs are manageable, when carefully designed, so we can not exclude the continued use of such strategies, if needed," said Bernake in a speech before the bankers and economists gathered at the annual Fed symposium Jones from Jackson, Wyoming.
Bernanke's speech takes place two weeks before the meeting of the Fed's monetary policy committee, which will decide whether to record a further extension of the program to stimulate the U.S. economy.
Bernanke reviewed the measures taken by the central bank during the financial crisis, saying that they were effective in stimulating economic growth and improvement in the market.
He also warned that the unemployment rate will continue only if economic growth will accelerate over the long-term trend.
"I have not seen an improvement in the unemployment rate since January. If economic growth will not accelerate over the pace of recent years, unemployment will remain well above the likely maximum rate of job properly," the Fed chief said.

 Bernanke has shown that long periods of high unemployment caused "enormous suffering and loss of human talent" and could also lead to "sustainable structural damage to the economy".
Many members of the Fed's monetary policy committee said at the meeting in early august that will be needed soon new measures to stimulate the economy, if no signs of a "substantial consolidation and sustainable."
Fed chief reiterated remarks concluding the speech that "the Federal Reserve will take further action if needed to support a stronger economic recovery and sustainable improvement in labor market conditions in terms of price stability".
Recent developments in the U.S. economy could be unsatisfactory for representatives Fed.
U.S. GDP rose by 1.7% in the second quarter compared to the same period last year, against 4.1% in the last three months of 2011. At the same time, inflation is below the Fed target of 2%.

In the summer time - BIG VOLUMES for SIF3 Transilvania - something happens???

Shares of SIF "Transilvania" (SIF3) were the most heavily traded in the three summer months. Over 147,309,234 shares were exchanged between June 1st and August 29th, representing 13.49% of the company's share capital.

The analysts say that the major interest in trading comes from the good earnings the company posted in the first semester. This summer, 77,383,418 shares of SIF4 "Muntenia" were traded (9.59% of the share capital), 61,149,036 shares of SIF5 "Oltenia" (10.54% of the share capital), 35,058,857 shares of SIF2 "Moldova" (6.75% of the share capital) and 29,090,847 shares of SIF1 Banat-Crişana (5.3% of the share capital).

In the last three months, the biggest rise was seen by SIF "Banat-Crişana" (+40%), followed by SIF5 (+36.81%), and SIF3 (+26.75%).

Since June 1st, SIF2 has risen 26.02%, whereas the price of SIF4 fell 5.07%.
 

* Simion Tihon, "Prime Transaction": In the last 60 trading days, SIF3 had an average daily turnover of more than 1 million lei 

Even though it is hard to talk about high volumes, over the last three months, SIF3 and SIF5 have indeed seen trading volumes which exceeded 10% of their share capital, said Simion Tihon, broker at "Prime Transaction". 

 He said: "I think that the hike of the holding limit from 1% to 5% continues to have an effect. Over the last 560 sessions, SIF3 had an average daily liquidity of more than 1 million lei, being the most heavily traded SIF. The earnings it saw in the first semester, as well as the discount it had been trading at after the ex-dividend date have polarized interest in SIF3. 

At SIF < Oltenia >, I think it is really important that they have not yet sold their stake in BCR, and the company is still making good profits under these circumstances. The investment strategy of SIF5 is another catalyst for the investors' interest.

Shares of SIF2 and SIF4 had a good liquidity in the first quarter, and SIF1 saw major trades on the DEAL market. It's natural to have some quiet periods". 

Given the fact that over the last few weeks we have dealt with a period characterized by an acute lack of liquidity, Simion Tihon expects rising volumes in the second half of the year.
      

* Adrian Danciu, "SSIF Broker": "The turnover of SIF1, SIF2 and SIF4 is a gauge for investors' interest in the domestic stock market" 

Over time, each of the SIFs had a better period than the others, in terms of liquidity, as well as from the point of view of the stock exchange dynamic, said Adrian Danciu, analyst at "SSIF Broker".
 For example, SIF4 is a stock that does better against a downward trend of the market, most likely due to its greater diversification when it comes to the financial instruments it has in its portfolio, compared to the other SIFs, the analyst of "SSIF Broker" said. 

He said: "SIF3, together with SIF2, were the ones which reported the best earnings in the first semester of 2012. Due to the fact that the Net Asset Value Per Share (NAVPS) of SIF2 is the highest among the five SIFs, most likely the investors' attention has turned to SIF3. This was probably one of the most important catalysts when it comes to the interest in the shares of SIF < Transilvania >".

Considering the level of liquidity on the foreign markets, which is extremely low, as well as the domestic political context, Adrian Danciu views the turnover in the stocks of SIF1, SIF2 and SIF4 as a gauge for investors' interest in the domestic stock market.

Given the current shareholder structure, as well as the interest shown by some investors in the management, the analyst considers that we can also expect in the coming period for trading in the SIFs to account for a large part of the daily turnover of the BSE.

* Daniela Ropotă, "Intercapital Invest": The volume of SIF3 was average, compared to what was it was at other moments 

Out of the SIFs, it was SIF "Transilvania" that stood out through its trading volumes, even though they were moderate compared to those recorded in other times, said Daniela Ropotă, analyst at "Intercapital Invest".
     There can be several explanations for the trading volume of SIF3, such as the very good earnings it got this year, its investment strategy and the speculation concerning its reorganization, he went on to say.
     Daniela Ropotă went on to say: "It is currently hard to say how liquidity will evolve by the end of the year, since there have been no special events, and it's a tense period not just abroad, but domestically as well. Therefore, there are new arguments needed to motivate investors".
      

* Marcel Murgoci, "Estinvest": "High volumes attract more volume" 

The interest shown by market participants this summer in SIF5 and SIF3 may be due to the potential changes in the shareholder structure, as well in the potential awarding of a greater profit distribution rate, next year, said Marcel Murgoci, operations director at "Estinvest".
 These trades also attempt the accumulation of as much stock as possible in order to ensure a better voting position in the next elections for the board, he said. Furthermore, the higher trading volume recorded by these issuers captured the attention of other investors and a result trading volumes have seen increases: high volumes lead to more volume, Marcel Murgoci further explained.
 He said: "In the case of SIF2 and SIF1, the somewhat lower interest can be explained by the fact that there are no disagreements among shareholders in the two companies.
 In the case of SIF4, volumes have increased constantly, as a result of increased interest from some shareholders, which resulted in the general meetings for elections and the allocation of the special dividend".
 In the future, we may see higher trading volumes, as the general shareholder meetings get closer, with some of them concerning the elections for the boards of directors, said Marcel Murgoci.  

Surse: presa romaneasca