The last quarter was dominated by images of popular unrest in Greece aimed at the government’s austerity program demanded by the Germans. As we have been saying since the beginning of the century, we have doubts that the Euro can continue to exist under its current form.
“The market is climbing a wall of worries” and the first quarter of 2011 is the ultimate example. After a brief correction triggered by several unexpected events – Tunisia, Egypt, Libya, Bahrain, the earthquake in Japan and the ensuing tsunami followed by “nuclearophobia” from the resulting damaged nuclear power plants - the market continues to shrug these off and resume its climb since March 2009.
As expected, 2010 turned out to be a fairly good year, considering that 2009 was a great one. The US market advanced 15% (in US dollar terms) and the Canadian market by 17.6%. Since the bottom of March 2009, North American stock markets have advanced on average 63%, to the disbelief of many doomsayers who were predicting the end of the American economic dominance.
Fundamentals of investing
2011 was a good year for those who hid in longer term government bonds and gold. For nearly everyone else, it was a year to forget.
Ulysses: an inspiration in investing
The correction we had been waiting for finally arrived, taking the S&P 500 down roughly 20%, enough to be qualified (theoretically) as a bear market.
American debt, European conflicts...
The last quarter was dominated by images of popular unrest in Greece aimed at the government’s austerity program demanded by the Germans. As we have been saying since the beginning of the century, we have doubts that the Euro can continue to exist under its current form.
The market shrugs off a wall of worries
“The market is climbing a wall of worries” and the first quarter of 2011 is the ultimate example. After a brief correction triggered by several unexpected events – Tunisia, Egypt, Libya, Bahrain, the earthquake in Japan and the ensuing tsunami followed by “nuclearophobia” from the resulting damaged nuclear power plants - the market continues to shrug these off and resume its climb since March 2009.
2010 turned out to be a fairly good year...
As expected, 2010 turned out to be a fairly good year, considering that 2009 was a great one. The US market advanced 15% (in US dollar terms) and the Canadian market by 17.6%. Since the bottom of March 2009, North American stock markets have advanced on average 63%, to the disbelief of many doomsayers who were predicting the end of the American economic dominance.
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