[/caption]
After writing yesterday's Blog about my view and strategy for 2010, I thought I would just bounce my views off a few market players to see how they were feeling about 2010.
My first stop was "Dr Doom" - Marc Faber. We met at an investment seminar in July organised by SIAS and shared similar views about the market. I remember two key messages from Dr Faber.....BUY GOLD and AVOID US Treasuries. He told me that we still shared similar views about 2010, ie more modest gains for stocks in 2010. The key risk remains one of when Central Bank and Government intervention will be curtailed.....some say second half of 2010 while others 2011. The second risk is one of corporate earnings disappointment because this rally has been pre-emptive. Earnings in June 2009 were forecasted to shrnk by 30% for Singapore but the second half of 2009 - analysts upgraded this to growth of 48%.....that is a 78% swing.....which means that some forecasts could be overdone. I have also noticed more broker downgrades over the last few weeks either from shares running ahead of earnings of earnings momentum not matching the pace of stock gains. Read more...[caption id="attachment_2428" align="alignright" width="150" caption="Photo by filtran"][/caption]
After writing yesterday's Blog about my view and strategy for 2010, I thought I would just bounce my views off a few market players to see how they were feeling about 2010.
My first stop was "Dr Doom" - Marc Faber. We met at an investment seminar in July organised by SIAS and shared similar views about the market. I remember two key messages from Dr Faber.....BUY GOLD and AVOID US Treasuries. He told me that we still shared similar views about 2010, ie more modest gains for stocks in 2010. The key risk remains one of when Central Bank and Government intervention will be curtailed.....some say second half of 2010 while others 2011. The second risk is one of corporate earnings disappointment because this rally has been pre-emptive. Earnings in June 2009 were forecasted to shrnk by 30% for Singapore but the second half of 2009 - analysts upgraded this to growth of 48%.....that is a 78% swing.....which means that some forecasts could be overdone. I have also noticed more broker downgrades over the last few weeks either from shares running ahead of earnings of earnings momentum not matching the pace of stock gains. Read more...
[/caption]
After writing yesterday's Blog about my view and strategy for 2010, I thought I would just bounce my views off a few market players to see how they were feeling about 2010.
My first stop was "Dr Doom" - Marc Faber. We met at an investment seminar in July organised by SIAS and shared similar views about the market. I remember two key messages from Dr Faber.....BUY GOLD and AVOID US Treasuries. He told me that we still shared similar views about 2010, ie more modest gains for stocks in 2010. The key risk remains one of when Central Bank and Government intervention will be curtailed.....some say second half of 2010 while others 2011. The second risk is one of corporate earnings disappointment because this rally has been pre-emptive. Earnings in June 2009 were forecasted to shrnk by 30% for Singapore but the second half of 2009 - analysts upgraded this to growth of 48%.....that is a 78% swing.....which means that some forecasts could be overdone. I have also noticed more broker downgrades over the last few weeks either from shares running ahead of earnings of earnings momentum not matching the pace of stock gains. Read more...
