Corey Ribotsky Update

Storm economic impact on the population by level of openness to multinationals, regulatory and social protection of the country ‘Kherson is the last major city on the Dnieper River before it drains water into the Black Sea. Despite some people who opened the spring in shorts and shoes, light, Kherson is nothing spa. In each city the communist Ukraine was assigned a task to a service economy streamlined to the extreme: it corresponded to Kherson shipbuilding, manufacture of paper and the construction of agricultural machinery. (Redirected from Convertibility Law) Domingo Cavallo, finance minister of Carlos Menem that momentum Convertibility
The Convertibility Law of the Austral (Law N 23928) was enacted on March 27, 1991 by the Congress of Argentina, during the government of Carlos Saul Menem, under the initiative of then Minister of Economy Domingo Cavallo, and was in force for 11 years.

According to her, was established from 1 April 1991 a fixed rate of exchange between the currency and the U.S. at a rate of 1 (one) U.S. 10,000 (ten thousand) Southern, which would later be replaced by a new currency, the Convertible Peso, also at fixed value of U S 1. Main objective was to control hyperinflation affecting the economy at that time. It also demanded the existence of reserves in support of the currency in circulation, thus restricting the monetary emission to increase the National Treasury. The period in which the hard convertibility law was popularly called “The One to One”, in clear reference to equal dollar weight.
Initially the law, together with market opening measures and other orthodox economic policies, had an apparently beneficial effect on the course of Argentina’s economy: the country restore stability and credibility with international capital, while inflationary horror ghosts and recalled that the hyperinflationary crisis of 1989. Argentina had very low levels of inflation throughout the period in which this law was in force (approximately 10 years), something rare in the country’s economic history.
The cheap price of the dollar, along with measures to open markets, facilitate the import of goods and services from other countries. Many people have debts in dollars, and the government of Carlos Menem benefited electorally from this situation, as during the electoral process could introduce an element of pressure as the consequences for those people that the dollar increase in price. This situation was named as “Voting shares”, in reference to property acquired through purchases in installments.
However, the extension of these policies over time is highly detrimental to the economy as a whole, especially in the long term: the inability to deliver money from the state, causes the gradual fall-deficit only in a tremendous increase external debt. Moreover, the overvaluation of domestic currency, which imposed such a law potentiate the effects of the violent economic openness, the negative trade balance, and devastating to the weak local industry.

This year, 2009 marks the 10th anniversary since the launching of the first direct investment fund at the NIR Group, based in Roslyn, New York. With the perspective of ten years behind him, Corey Ribotsky discussed today’s unsure market and his strategies as Managing Member and Head Portfolio Manager to cope with the special stresses of investing now.
One of the main focuses of the NIR Group in the past has been PIPE investing. According to Ribotsky today’s environment for PIPEs has been “the best I’ve seen in 15 years of investing in this space.”

Believing that it will be beneficial to create a trade group for the PIPE investment space, the NIR Group has been active in beginning such an organization.  “It is something that we have talked about quite a bit over the years with other players in this strategy but it never really transpired,” explained Ribotsky.

The goal is to create a group soon which will be made up of a membership of investors involved in the PIPE space, as well as service providers such as lawyers and accountants and others who also play an important role in this investment strategy. Although the NIR Group itself is really only involved in the micro and small cap market, the group will most probably include those in the mid to larger cap markets. This would tend to include placement agents, broker dealers, investment banks and others.

The phenomenon was attributed to the deterioration in the credit and the cooling of the economy. Softline Consultores says that the growth of profits of the banking system is a minimum profit of the banking system from January to April amounted to 1.999 million strong bolivars (about 929.7 million dollars), surpassing the 4.6 gains for the same period anus past reported one of the main premises of financial analysis. However, Softline Consultores said that growth is minimal with respect to the 47.1 rise in profits in 2008 compared to the same quarter of 2007. There is also the opinion, and analysis have appeared in many important meetings and papers, that the macroeconomic indicators are systematically manipulated by governments in order not to lose popularity, and this could facilitate the emergence of political budget cycles in the euro area, or make the population has taken measures to meet its power with complete transparency would be unpopular. On the other finds were not sufficiently dealt with the “psychological effect” of the changeover on prices, understating this is prevented so that the correct discrimination of them. (See Reference 1)
Thus, since the updating of wages is based on the CPI, than the opinantes is manipulated to give a figure lower than the real, The result, according to this view, was a net transfer between the poorest towards the rich, and it is speculated that the effect was allowed to take place, or at least tries to cover up through pressure on the media not to discuss the item, or to discredit those who do so. The famous financial analyst Jim Puplava, admits in a recent article that exists worldwide, by all governments (especially the looks of the United States) a situation in which intentionally creates a “statistical manipulation aimed at control the government deficit and create an illusion designed to calm the markets and distracted from a reality where inflation is growing. ”

Alternative investment firm, The NIR Group, LLC.,  headed by head portfolio manager, Corey Ribotsky, focuses on investment strategies that are structured to produce returns in all market environments all the while mitigating risks.

The N.I.R. Group initially focused its investment strategy on direct investments in small/micro-cap public companies that showed emerging growth, in addition to distressed and developmental stage businesses.
View more info on the NIR Group page here.

Opening their new Singapore office, the NIR Group of Roslyn, New York is heading into the future of global investing in the emerging markets of Asia.

Working directly under Corey Ribotsky, managing member of the NIR Group, newly appointed Shoham Cohen will head up the office in Singapore.

“There are numerous opportunities to replicate what NIR has done so successfully in the U.S. and the investment community is looking for alternative investments that are truly non-correlated and provide consistent absolute returns,” added Mr. Cohen.