The businessmen doing business on rumor

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VietnamNet English - 35 month(s) ago 2 readings

The businessmen doing business on rumor

VietNamNet Bridge – EVN Telecom’s simcards, which were unsalable, have unexpectedly skyrocketed on the information that EVN Telecom would merge into Viettel. The frozen real estate market suddenly became hot on the rumor that the capital city would expand towards the north. Rumors bring big money to some businessmen, and misery to others.




The owner of a motorbike shop on Hue Street in Hanoi earned hundreds of millions of dong just within two months, thanks to the rumor that old-version Air Blade would be scarce and more expensive.

At the time when Honda Vietnam planned to market the new version of Air Blade, Huong, the owner of the shop, bought old-version Air Blade in big quantity, because she believed that when old-version Air Blades get scarcer, they would be more valuable. Huong made a right move in the deal: the speculation of old-version Air Blades helped her earn a lot of money just within a short time

Huong related that she heard at a small tea shop that when manufacturers stop making a model, people would hunt for the model on the market, thus pushing the prices up. The same thing once occurred with SH 2008 or Spacy models, and might happen with Air Blade.

Therefore, Huong decided to use all the money she had to buy Air Blades for reselling.

Just one month later, Air Blades, as Huong anticipated, became more and more expensive with the price jumping from 47 million dong to 57 million dong. Meanwhile, the new-version of Air Blade was sold slowly, despite the lower price at 40 million dong. Making a profit of 10 million dong for every motorbike, Huong pocketed 200 million dong just after two months.

Rumor also brought fat profit to real estate speculators. The real estate market, which was quiet several months ago, suddenly heated up on the information that the capital city would expand towards the north.

People rushed to hunt for the land plots in the north of Hanoi, hoping that when the area becomes a part of Hanoi, the land price in the area would skyrocket. The land price soared by two folds or three folds just within a short term after people heard that a lot of hospital, research institutes, universities and junior colleges would relocate to the suburbs.

Direct of a real estate firm has admitted that he pocketed big money thanks to the rumors. He spent money to buy the land plots located far from the center and then waited for the land price to increase on the rumor about the development of the new land area. The information of this kind always makes the prices increase, which means the great opportunities for him to buy the land plots he bought in the past for profit.

Thang, the owner of a car showroom, also said that he has been living on rumor, especially the rumor on the tax policy changes. He said that car dealers once made big profits in 2008, when the Ministry of Finance changed the tax policies 4 times just within several months.

However, in fact, not every businessman can make fat profits from rumors. Nga, a clothes trader, said that she arranged capital to buy winter clothes for retailing soon, because she feared that the products would be very expensive this winter. However, in fact, it is still hot, though it is now November already. As a result, winter clothes remain unsalable, while Nga does not have more money to invest in other fields.

Right after hearing that EVN Telecom would be merged into Viettel, simcard dealers have raised the prices of EVN Telecom’s simcards with the “lucky” prefix numbers of 096. If EVN Telecom falls into the hands of Viettel as rumored, simcard dealers would make fat profits. However, if EVN Telecom becomes a part of Hanoi Telecom or VTC, they would incur the loss of up to one billion dong.

Hai, a simcard dealer, said that he has bought a lot of EVN Telecom simcards, which he will sell later when the official decision about the merging of EVN Telecom into Viettel is announced. “Neck or nothing,” Hai said, adding that this is really a risky deal, but if businessmen do not take venture, they would never succeed.

Source: VnExpress

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