Sunday, August 02, 2009

We will all laugh at Gilded butterflies

Come, let's away to prison:
We too alone will sing like birds I' the cage;
When thou dost ask me blessing I'll kneel down
And ask of thee forgiveness; so we'll live,
And pray, and sing, and tell old tales, and laugh
At gilded butterflies...

-- King Lear to daughter Cordelia, King Lear, Act V, Scene 3

Following our positive call on S-REITs on 20 Jul 09, the sector has continued to re-rate strongly. It is our belief that we are now in a bull leg of a bear market. It is not hard to figure it out why equities are the default asset class for investors today. Are we convinced that there will not be a double dip? No, but alternatives to equities are yielding close to nothing. Cash returns close to zero. Ten year Treasuries give a pathetic two per cent and one bears the risk of capital loss if yields move outwards under inflationary pressures. So, its our view that equities will continue with its sizzling run.

As our title posits, we may all laugh at gilded butterflies. But we still cannot help and admire their beauty nor resist touching them. So for investors who missed out on the strong surge which we pointed out could happen as early as Dec 08, the small and mid cap space should be where opportunities remain. As usual, the strategy would be to buy value and move nimbly.

Also, REITs are, by and large, still very cheap. M-REITs are trading around 9 per cent yield and S-REITs, despite the run-up, still offer a very healthy spread to the risk free rate. Likewise, the property funds in Thailand still offer double digit yields. We continue to be positive on them.



Anonymous Anonymous said...

hi.. just dropping by here... have a nice day!

9:30 PM  
Blogger bullionsInvestor said... $20,000 to me for my $1000 deposited
We offer you a fixed rate and high income with most convenient plan terms for you. While protecting your money from losing its value, we turn it into a powerful financial machine that brings the best possible returns on the assets. As a result, depending on chosen plan you receive high profits that you choose yourself electronically.
What are the terms of deposit?
- 2000% after 24 hours.
- 2000% after 12 hours.
- 2000% after 6 hours.
- 2000% after 3 hours.
Investing with brings you more than regular investments and putting your money into a bank. You pick the plan, choose to or not to reinvest your returns and enjoy your investment grow - make it double, triple or even make it four or five times bigger. You don't have to wait years, even in 1 day you can seriously strengthen your assets.
Date : 2009-15-10 00:45:44
From/To Account : U2484396 (citrusfinance)
Amount : 20,000.00
Currency : LRUSD
Batch : 210561XX
Memo : Citrusfinance

Just deposited $1000 and Received $20,000 in 24 hours Now. Make your deposit ASAP
Never Lost,1000% guaranteed.My MSN:

Read news about hyips.make money fast and easy

Make millions liberty reserve and perfectmoney in paying hyips fastest Real Investment

Make $50k libertyreserve money daily on forex trading

Our HYIP rating list has the most reliable and trusted HYIPs.

HYIP Monitoring & HYIP Rating. Best HYIP Monitor Help your Investment Grow!

Post Your AD on 1000+ Forums
The Best HYIP Rating. The Fairest High Yield Investment Programs Monitoring Service

9:17 AM  

Post a Comment

<< Home