Ireland’s exporters had a torrid time predicting exchange rates last year. 2011 saw the Euro begin the year against the dollar at 1.29 on Jan 7th. By April 29th it had reached an incredible 1.48, before sliding back to 1.27 as on Jan 14th 2012. Against sterling it started at 87 pence on Jan 7th, peaking at 90 pence on July 1st, before dropping back to 82 pence on Jan 13th 2012.
Those gambling on a recovery in Irish Banks fared worse. On Jan 14th 2011, for example, Bank of Ireland began the year at 26.6 and following a share split (1:10) on Oct 14th, now stands at 5.05.
On the upside however, access to Irish financial data grew throughout the year with the steady improvement of Google finance. Even by Google’s standards, the breath and integration of the information is quite simply staggering. And doubtless, even in this beta form, only beginning to be exploited by the next generation of entrepreneurs, who have traditionally been badly served in this department.
It won’t tell you anything about companies such as Quinn Wind Energy or sea turbine makers OpenHydro -because they are’t listed, but presumably it’s just a matter of time before even activities of below radar companies are somehow integrated into the overall package.
What then for Google finance? Well they’re working on 3,700 ideas and 38,000 votes according to their blog. But trading shares would be a good start. Only Google, one suspects, would dare deliver a world class service at an appealing and reasonable price for the small investor and young entrepreneurs, to a country as small as Ireland.
Then Irish environmentalists and entrepreneurs, big and small, can put their money where their mouths are – and invest in Irish and global renewables with the backing of reliable information.
I have a vision of the future, chum…