June 1, 2010 – Refrain: I’d Rather Have a Poke in the Eye with a Sharp Stick than Buy Equities

(SPECIAL MARKET TIMING ISSUE)

Featured Trades: (EWM), (EWP), (EEM), (EWY), (EWZ), (FXI)
ISHARES MSCI MALAYSIA INDEX
ISHARES MSCI SPAIN INDEX

ISHARES FTSE/XINHUA CHINA 25 INDEX
ISHARES MSCI BRAZIL INDEX
ISHARES MSCI SOUTH KOREA INDEX


4) Refrain: I’d Rather Have a Poke in the Eye with a Sharp Stick than Buy Equities. I’m feeling pretty good about my January 4 blandishment that I’d ‘rather get a poke in the eye with a sharp stick than buy equities’ (click here for the call). Those tireless data collators, my friends at the Bespoke Investment Group (click here for their site at http://www.bespokeinvest.com/ ) have produced the table below of global stock index performance showing that  only one, Malaysia (EWM) with a 4.09% gain, is showing a positive return so far during 2010. Imploding Spain (EWP), the next PIIG to fall, you know, where the ‘rain mainly falls on the plain’, was down an awesome 32.4%. My favorite ‘canary in the coal mine,’ Shanghai (FXI), is off 19%, while former wunderkind, Brazil (EWZ), has taken a 13% hit. The Euro block countries have taken it on the nose because a 17% plunge in their pathetic excuse for a currency has exacerbated their returns to the downside. Leaderless and demographically plagued Japan is missing 5.31%. The neighbor to saber rattling North Korea, South Korea (EWY) lost 8.5%. I love all this action because eventually it will lead to a replay of the great long side emerging market (EEM) plays we saw in 2009.

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