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   Investment Thoughts - Capital Markets

Chasing paper tigers
Beware the rallying bear. In January 1998, when Asian markets had halved from their July 1997 peak, flows into regional funds also turned positive (...). But those who got in then lost about a third of their money before markets finally bottomed in early September.

 

 

"Back then, the proportion of assets held in cash in Asian-focused funds also peaked at 17 per cent - five times higher than current levels. Other indicators, such as price/book value, are scarcely more tempting now. So far, real estate is the only sector marked down to the lows reached during the last recession."

 

Story Link

 

 

FT,24.03.2009

24.03.2009


 

Themes

 

Asia

Bonds

Bubbles and Crashes

Business Cycles
Central Banks

China

Commodities
Contrarian

Corporates

Creative Destruction
Credit Crunch

Currencies

Current Account

Deflation
Depression 

Equity
Europe
Financial Crisis
Fiscal Policy

Germany

Gloom and Doom
Gold

Government Debt

Historical Patterns

Household Debt
Inflation

Interest Rates

Japan

Market Timing

Misperceptions

Monetary Policy
Oil
Panics
Permabears
PIIGS
Predictions

Productivity
Real Estate

Seasonality

Sovereign Bonds
Systemic Risk

Switzerland

Tail Risk

Technology

Tipping Point
Trade Balance

U.S.A.
Uncertainty

Valuations

Yield