Herewith my letter. There is much more I could have added but letters have to be brief. Of the UK bank lending to business, over 80% is for construction with over 80% of that construction being in London and over [...]
News and views: Worst rebound ever (from another Euro zone fix)!
Market rebounds are certainly suffering from diminishing returns as witnessed by the rally of the 11th June 2012 which petered out by lunchtime. Some stocks are looking attractive but with political and sovereign concerns from Syria to Spain looking dire and growing economies slowing down. In my opinion valuations will remain fickle and volatile. Thus, I’m build-up some reserves and my watch list too. Timing and temptation are hard to get right never mind getting the research done.