Global stock markets are in a multi-year bull-market and nominal prices are likely to appreciate for several more months. In our view, we are currently amidst a normal multi-week consolidation phase and most stock markets are likely to stage a sharp year-end advance. Look. We know that the developed economies are in trouble and they [...]
As rebounds in corporate profits go, recent history is probably about as good as it gets… Source
The Wall Street Journal reported last week that, for the first time in three years, foreign investors are increasing their holdings in the Japanese stock market. Data released by the Tokyo Stock Exchange shows that foreign ownership of Japanese shares rose to 26% for the year that ended in March, up from 23.5% a year [...]
U.S. equity markets seem now to be manic depressive. One day’s fear and loathing of U.S. financial markets and Eurozone collapse are followed be decent manufacturing numbers and at least the estimates of stronger consumer spending and corporate earnings. The bullish reversals seem most to be focused on educational and business services, computer parts, and [...]
Investors headed back into the currency markets Friday feeling more confident in the global recovery, after US GDP for the fourth quarter of 2009 held at 5.6%. The combination of good US growth, a possible solution to the Greek debt crisis, and the passage of Obama’s healthcare overhaul had investors almost giddy as they put [...]
The commercial real estate crisis may be the most anticipated crisis in history. But just because it’s widely anticipated doesn’t mean that the crisis won’t be destructive for REIT shares. Since most REITs are richly valued, the slow-moving commercial real estate crisis will ensure that future returns disappoint. Consider the valuation of REITs versus the [...]
Yesterday, the Dow was down 150 points the last time we checked it. And this morning, Asian stocks are falling again. China’s stock market has fallen below its 200-day moving average – a bad sign. Is this a little correction in the long upward climb of stock prices? Is it a pause in humanity’s march [...]
The Dow fell slightly on Friday. Oil ended the week at $77. The dollar went nowhere. But gold rose to a new high – $1,146. Whatever else may be going on, there’s a real bull market in gold. It’s a bull market that began ten years ago. If you’d bought stocks then, you’d have about [...]
