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Normal Board - The Whole shebang
Prompt Board Next day settlement
Expert Board All you need re an Individual stock.

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Its back after a Two Day Hiatus.

Macro Thoughts

I am a whole lot more circumspect about the Currency Markets and when
I am circumspect I am sidelined.
I think Breakfast Commodities [Sugar, Coffee [Tea and Cocoa] look set
to probe higher.
I think Africa Equities will outperform from here on a rising Tide of
Liquidity and a Move from Underweight to Neutral.

Home Thoughts

I thank KCB for the invitation to their Cocktail Party last Night at
the Serena and it was a pleasure to catch up again with the Deputy
Managing Director Mr. Kimani. I woke up at 330 am to catch my 530
Flight back and it took twice as long to get from Nairobi Airport to
the Office than it did to fly from Mombasa to Nairobi. I never got my
Swim but it was rather breezy.

6.18 Yesterday Evening Serena Beach Twitpic
http://twitpic.com/23hoxj

Mahmud Jan Mohamed MD Serena Hotels made an excellent Presentation at
#Mindspeak
http://bit.ly/3kIwjf

My Tweets during that Presentation

#mindspeak Serena we turned down Biden Serena Williams a wonderful
Guest www.rich.co.ke via mobile web
#mindspeak Serena The only real Kenya Multinational www.rich.co.ke
#mindspeak Serena Jan Mohamed world wide turnover $160m www.rich.co.ke
#mindspeak I expand in order to stop myself being run over Mahmud Jan
Mohamed Serena Hotels
#mindspeak Jan Mohamed #Africa Expansion Serena amount of Africa
Business stunning Looking at South and West Africa #Serena
#mindspeak Jan Mohamed talking about #technology $2m last 4 months via
Internet Peanuts before www.rich.co.ke
#mindspeak Serena Kabul hosted Security Council 1st time
#mindspeak Describing Terrorist attack and his reaction Kabul Serena
#mindspeak Jan Mohamed #Serena Encourage Messengers of Bad News
#mindspeak What did British Airways do after the Sleeper Seat ?
#mindspeak Jan Mohamed #Serena New Product Serena Collection
#mindspeak Start Up Rising Star Cash Cow Dead Dog or Rising Star

It was really a very 360 Degree Presentation.

China this week again used the East China Sea as a setting for
military maneuvers and exercises that it knew would rattle the United
States and its allies. After recently calming Japanese concerns about
rising tensions in this area, China shut down all vessel traffic in a
large zone off the coast of Zhejiang as the People's Liberation Army
Navy (PLAN) conducted a series of live fire drills.The PLAN engages in
such drills each year, and does so in waters considered part of
China's exclusive economic zone (EEZ). All ships, including US
military surveillance ships, are given fair warning to stay clear.

Simply put, seldom have so many warships been exercising all at once
in the Pacific. A large fleet of US and allied warships are engaged in
the RIMPAC exercise off Hawaii, and the Russians are conducting a very
large exercise in the western Pacific region.
Speculation swirled in the US and elsewhere about the possibility that
the PLAN would launch Anti-Ship Ballistic Missiles (ASBM) - known as
"carrier killers" - during its East China Sea exercises just north of
Taiwan.

Conclusions

In many ways its a Tinderbox.

Euro 1.2697
Pound 1.5171
Dollar Index 83.73
Higher Beta
Aussie 0.8772
Rand 7.5515
Brazil Real 1.7635

The euro rose to $1.2681 from $1.2641 in late New York trading on
Wednesday. It touched a two-month high of $1.2702 intraday.
Trichet said the publication of stress tests should be followed by
action where needed. He also emphasized that the ECB is still
providing unlimited liquidity to the financial system and said
investors must wait until the July 23 release date of the test results
to judge them.

Conclusions

Trichet squeezes the Euro shorts.

Dow's Surge: 452.51 Points in 3 Days. The Dow Jones Industrial
Average, after a late-day surge, ended up 120.71 points, or 1.20%, at
10138.99, marking a strong three-day rebound after a bruising pre-July
4 week driven by doubts about the pace of the global economic
recovery.Investors were cheered by some strong June sales reports from
retailers even though the best results were buoyed by aggressive
promotions. Abercrombie & Fitch jumped 7.8% after same-store sales
rose 9%, beating analysts' 5.5% estimate. Limited Brands gained 2.2%
after reporting strong sales, while Walgreen rose 3.6%. A large drop
in the number of workers filing new claims for unemployment benefits
also boosted the market, though some analysts were reluctant to read
too much into the data.

It's a long way from Stepney to Shanghai, but 176 years after Charles
Henry Harrod opened a grocery shop in London's East End the retailer
which has become a global byword for extravagant consumption is
considering opening a second vast emporium – in China.Two months after
Mohamed Al Fayed sold the Knightsbridge store to an investment group
controlled by the Qatari royal family for £1.5bn, Harrods bosses are
working on ways to expand the empire. They want to cash in on the
niche Harrods has carved out in Britain, selling must-haves for the
oligarch class from £80,000 crocodile Hermès Birkin bags to £3,000
children's pedal cars.

Conclusions

Smart and exactly what I thought they would do. Qatar, Abu Dhabi and
Dubai is a study in many ways of 3 hedge Funds. I will leave it up to
you to decide who has proven to be the smartest and who the Least.

Crude for August delivery gained $1.37 to settle at $75.44 a barrel.
It was oil's first rise above $75 a barrel in a week. Natural gas
futures, however, declined 3.7% as a separate report showed a
larger-than-expected increase in natural gas stockpiles.

Playing defence for now.

Last Price    17.09
Contract High    22.78
Contract Low    11.79

Last Price    162.65
Contract High    192.1
Contract Low    123.95

Conclusions

I expect a move through 192.1 Highs.

Value27,061.19    
Change206.270     
% Change0.768

Conclusions

Tracking the Dow Rebound.

Value6,027.00    
Change82.070     
% Change1.381

Conclusions

Has become a little like SA in that it has a higher correlation with
External Markets.

Value4,963.38    
Change7.420     
% Change0.150

Conclusions

Low Beta and the Top Performing Bourse in the World over 3 Years.

Value24,776.04    
Change-298.810     
% Change-1.192

Conclusions

Probably nearing the end of its Correction from 2010 Highs.

Value6,445.07    
Change-83.210     
% Change-1.275

Conclusions

An Attractive Market ahead of Double Digit GDP Expansion Jubilee refers

A model wears a creation from South African fashion label Kluk & CGDT
during Africa Fashion week in Johannesburg. Photograph: Jorge
Silva/REUTERS

"I don't know how they do it," said a friend, just back from Cape
Town. "I don't know how people can sit in Camps Bay, eating and
drinking, saying what a great place it is when there is such poverty
just down the road."

I knew what he meant, but I queried if we could really single out Cape
Town and South Africa for special blame. There are swanky restaurants
in central London, I ventured, where the destitute and homeless press
their noses to the window. [A Good Point! and something the likes of

Boris Johnson, the mayor of London, wrote in a Daily Telegraph column
last week about a jog through Westcliff in Johannesburg. "Among the
trees, on either side of the well-kept street, I passed the kinds of
homes you normally associate with Beverly Hills," he said. "Here was
the honey-stoned palazzo of a diamond executive. There was the schloss
of the most successful boob-job exponent in the neighbourhood.

"Each villa was the size of a country club, and through every set of
gates you could see the carob-shaded tennis court or the ultramarine
ping of the sunlight on the pool. Every property overtly proclaimed
the determination of the haves to resist the depredations of the
have-nots."

Conclusions

Optimists say the continent is enjoying economic growth, greater
political stability and fewer wars, which translates into booming
cities, multiplex cinemas and showpiece events such as the World
Cup.Africans can have world class fashion and football too.

This is the new African dream. You too can drive a fast car and wear a
designer label. But if the American experience is anything to go by,
for every winner there will be a lot of Willy Lomans wondering how
they missed their share of the cake.

Government, Lacking Funds to Fight Militants, Hires U.S. Lawyers to
Recover Money Stashed Abroad by Past Regimes.

The cut-off interest rate on Kenya's 182-day Treasury bill dropped to
1.80 percent at this week's auction from 2.45 percent previously, the
central bank said on Thursday.The bank said it received bids worth
11.85 billion Kenya shillings ($145.4 million), a 198 percent
subscription rate for 6 billion shillings offered. It accepted 7.69
billion shillings.

Conclusions

12th April 2010 The Magic Tipping Point The Star
http://bit.ly/cklDnv

AccessKenya Ltd., the country’s only publicly traded Internet company,
named Daniel Ndonye as its chairman.Ndonye replaces Michael Somen, who
resigned after a board decision “that the Chairman shall be an
independent non- executive director,” the company said in a statement
on its website today.The former chairman is the father of Managing
Director Jonathan Somen and has headed the board since its inception
10 years ago. He will remain as a board member, the company said.

Ndonye worked at Deloitte East Africa for 20 years, 10 of which he
served as managing partner, until his retirement in May 2010, it said.

Access Kenya share price data from www.rich.co.ke
http://bit.ly/4zIr3s

Par Value:                  1/-
Closing Price:          21.25
Total Shares Issued:          206,331,216
Market Capitalization:        4,385M
EPS:            0.76
PE:                27.961

Value74.69    
Change0.030     
% Change0.040

Conclusions

75.17 is the 2010 High and we are not far away.