My investment choices....

Posted by: Michael Mandel on November 12

…if anyone is interested.

Following my usual practice, I regret to inform you that I’ve reduced my investments in domestic equities. I think this play still has another unhappy act to run before the (perhaps) happy ending. But is there an intermission?

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Reader Comments

Venki

November 12, 2009 09:39 AM

Good move, foreign markets are booming also gold looks pretty attractive too looks like there is a central bank buying frenzy going to maintain gold reserves.

huh

November 12, 2009 10:39 AM

who are you?

And why do we care?

Wearsunscreen

November 12, 2009 11:38 AM

He's a chief economist. They sometimes see ahead, or apply history so that they are worth listening to. Like a Jim Rogers but at a magazine. I just bought a block of Verizon because I was thinking different if anyone is interested. But I'm not an economist or anything.

LAO

November 12, 2009 12:52 PM

At the mundane hiccup level, it's easy to imagine tax driven profit taking by the end of the year, maybe for years to come, if there are profits to be found along the way.

At a structural level, I've had little confidence in the domestic economy for about a dozen years -- my timing is obviously not very good. The fact remains, though, that big money drives the market far more than the little guy, and there just aren't that many alternative destinations for it. It wasn't all lost in the meltdown.

If you are quietly implying that a declining dollar is likely to make foreign equities more appealing than U.S. domestic ones, I'm inclined to agree, but it is the possibility of more structural shock that preoccupies me. For instance, it would be nice to know whether EU, Asian, and Latin ROA's have been declining in sync with the domestic declines shown by the Deloitte report. It's probably similar for the EU but not for Asia, however there's too much Asian dollar pegging so the exchange effect is diminished. It would also be nice to be able to get a grip on the unaddressed and unmarketable financial instruments -- one ill-conceived move and everything could go reeling again, globally -- but how can I possibly know?

Kartik

November 13, 2009 07:14 AM

Gold is already peaking.

I too have no US assets. All my money is in energing market equities and bonds. Even bonds give 10% interest in emerging markets.

Resourceguy

November 13, 2009 02:14 PM

Good move, the handwriting is on the wall that in the short run and across the expected U.S. expansion, growth on average will be lower than past decades and past generations. Some of that low growth will result from the forced march of liberal policy bias and some will be longer term effects of accumulated underfunded liabilities baked in the system. America is the new low growth Europe, we've arrived. Does that make the EU socialists happy now? Who cares, the excitement is Asia now and for at least a generation to come. America will now assume the role of bot bellied slow moving world cop living on minimal compensation and trying to look important.

sele mduda

December 4, 2009 04:12 AM

hey there the good place i will advice people to invest their money is tanzania where there is good land that can be carried agriculuture,minerals and game farming.you want to know more?contact over my mail address{suleimduda@hotmail.com}

Amer

January 28, 2010 01:03 PM

Hi Mr M.mandel how are you.i haven't money but i have to work or business.

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Michael Mandel, BW's award-winning chief economist, provides his unique perspective on the hot economic issues of the day. From globalization to the future of work to the ups and downs of the financial markets, Mandel-named 2006 economic journalist of the year by the World Leadership Forum-offers cutting edge analysis and commentary.

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