Financial Foot In Mouth » recession

We’re Still in a Bull Market

admin — Tue, 29 Nov 2011 16:02:10 +0000

During the following quarter, according to “The Daily Telegraph” (01/10/2011) the FTSE 100 suffered its biggest quarterly fall in nine years in the third quarter as mounting fears over a second global recession drove the index down 13.7% and wiped £212 bn. off the value of shares.

The last time the index fell so sharply was the third quarter of 2002. The poor three month performance was echoed among European markets, with the CAC 40 in Paris down 25.1% over the third quarter and the DAX in Germany 25.45% lower.

According to “New Model Adviser” (04/10/2011) “the U.K officially entered bear market territory on 9 August when it hit 4,855.35, some 20% off its February high of 6,091.33.”

We believe this to be a forecasting faux-pas and a worthy winner in our Hall of Fame! Can we let this comment go unnoticed or does it deserve our acknowledgement? Recognition merited!

U.K. Equities to Rise as Much as 20-25%

admin — Wed, 19 Oct 2011 11:05:23 +0000

In the event, the FTSE 100 started this year at 5899.94 and, as I write on 15 December 2011, it stands at 5428. We are all looking forward to the 1650 point end of year rally over the next few days so as to avoid any embarrassment at Schroders, and no doubt Mervyn King will now be able to enjoy his Christmas pudding with the knowledge that his worst fears about a “double dip” have been unfounded.

Gordon Brown on the City of London Bankers

admin — Thu, 18 Aug 2011 20:23:48 +0000

Yes everyone, it’s our favourite politician, Gordon Brown, (remember “no return to boom and bust?”) for the comment he made way back in his 2002 Mansion House speech.

What Recession?

admin — Mon, 22 Nov 2010 09:18:12 +0000

“The Federal Reserve is not currently forecasting a recession.” (Ben Bernanke, again, on 10 January 2008)

Not an unreasonable statement, disregarding widespread toxic financial instruments.