All golfers want that perfect golf swing that they can always rely on. It is a swing that can be used effectively with either a wood or iron. You can tee off and drive with it, adapting to changes in wind and terrain. It is a swing that can get you out of bad situations like bunkers and even water. It is a swing that is as simple as it can get, yet can be versatile and dependable.
That isn't happening though if your swing has slice.
Perfecting that golf swing definitely isn't easy, no
Saturday, December 18, 2010
Friday, December 10, 2010
ECONOMIC INSIGHT
I was lucky enough to be invited to a talk the other day by the top economist at Quilters (investment managers). It was interesting and I thought I would pass on some of the highlights he mentioned:
Gold. You might remember that I was backing gold in March at something over $1,000 an ounce and now it's around $1,400, so that's a tasty return. This economist didn't like gold. Claimed it was a commodity with no real use and that it was like one giant Ponzi scheme - needed a bigger fool to buy it from you! He did admit that some of his colleagues disagreed, but it was an interesting perspective.
Ireland: If the interest on government bonds exceeds 6%, then that government will not be able to afford the interest, let alone repay the capital. Ireland could be paying 8 - 9%. What next?
Euro: Germany can't let it fail, because it's main market for manufactured goods is Europe. So Euro will survive, but there could be some interesting 'tweaks'.
Equities: should perform strongly in 2011 and is a favoured sector, but beware of volatility.
Bonds: underweight. Avoid government bonds or those offering high interest rates - they're not high for nothing.
Cash: Boring. Rates likely to stay low until at least 3rd quarter 2011.
Oil: likely to hit $100 a barrel. Demand from India and China will outstrip savings in the West and demand will exceed supply at current prices.
Currency: Euro down; Sterling flat; US$ up.
National Economies: India and China will continue to forge ahead, but less dramatically.
Interesting insight, but the trouble with economists is that they'll tell you tomorrow why the forecasts they made yesterday didn't happen today!
Be well.
Gold. You might remember that I was backing gold in March at something over $1,000 an ounce and now it's around $1,400, so that's a tasty return. This economist didn't like gold. Claimed it was a commodity with no real use and that it was like one giant Ponzi scheme - needed a bigger fool to buy it from you! He did admit that some of his colleagues disagreed, but it was an interesting perspective.
Ireland: If the interest on government bonds exceeds 6%, then that government will not be able to afford the interest, let alone repay the capital. Ireland could be paying 8 - 9%. What next?
Euro: Germany can't let it fail, because it's main market for manufactured goods is Europe. So Euro will survive, but there could be some interesting 'tweaks'.
Equities: should perform strongly in 2011 and is a favoured sector, but beware of volatility.
Bonds: underweight. Avoid government bonds or those offering high interest rates - they're not high for nothing.
Cash: Boring. Rates likely to stay low until at least 3rd quarter 2011.
Oil: likely to hit $100 a barrel. Demand from India and China will outstrip savings in the West and demand will exceed supply at current prices.
Currency: Euro down; Sterling flat; US$ up.
National Economies: India and China will continue to forge ahead, but less dramatically.
Interesting insight, but the trouble with economists is that they'll tell you tomorrow why the forecasts they made yesterday didn't happen today!
Be well.
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