Bear markets are never fun

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By Shaun le Roux

Equity markets around the world are struggling. Most markets are down in 2008 and are not significantly above their lows earlier this year. The Shanghai Composite in China is more than 50% down on its October 2007 high.

Equity markets have had to grapple with a […]

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US Stock Market – Muddling Through the Fundamentals

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A shrinking economy bodes ill for corporate earnings and current indications are that the S&P 500 Index’s earnings could be down by as much as 30% to 40% in year-ago terms by the end of Q2 2008. The key to assessing valuation levels, however, is to get a grip on the forward numbers. This post analyses this aspect and concludes that it would be irrational to bank on above-average returns from these valuation levels. A muddle-through outlook seems to be what the US stock market has in store. […]

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Inflation Bang!

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Source: Tom Toles, The Washington Post, June 17, 2008.


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Xenophobia – a different perspective

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By Cees Bruggemans

As a foreigner of longstanding in this country, I have some interest in the phenomenon that got a burning man on the front page of the New York Times and Financial Times last month, in addition to numerous local papers.

What’s going on?

It has been a […]

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Fitch revises South Africa’s credit rating

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By Kevin Lings

Fitch Ratings has revised the outlook for South Africa’s long-term foreign currency rating of ‘BBB+’ from Positive to Stable.

According to Fitch, “the revision of the outlook reflects a reassessment of South Africa’s medium-term potential growth prospects as supply side constraints have become more visible in 2008 and […]

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