Word: touati
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Dates: during 2000-2009
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...really should stop looking at what markets do on a daily or weekly basis, because they've become purely speculative. Economic reason has been tied up and shut in the cellar," says economist Marc Touati, director general of research and strategy group Global Equities in Paris. Touati adds that recent developments - including American and European bail out plans for banking and financial systems valued together at over $4 trillion and the drop in oil prices and value of the euro - have given markets lots of reason to be bullish big time. "But they're are acting like spoiled kids throwing...
...produced this week, it might be wise to prepare for markets altering their view of the economic glass as half full or empty almost daily. When investors eventually return to reasoned trading, some observers think, the wider picture won't be as dark as many people expect. Touati notes, for example, the rescue plans, rate cuts, drop in oil prices, and fall of the euro are all positive developments for businesses. The downward pressure on stock prices across the board, meanwhile, suggests speculative markets are already factoring in anticipated declines in company results as the economy slow down. In other...
...Markets always lead us out of recession by anticipating recovery in the same way their fears of economic slowing accelerate the arrival of that very crunch," Touati says. "Right now, a lot of the medicine for a remedy for long-term recovery is already out there, but markets are in such a micro-short-term speculative mode they aren't taking it. That's what has driven share prices of many fundamentally sound companies so low that investors willing to take a risk now will make a killing in the longer term...
...sell-off will end eventually, one way or another. Governments could follow the nerve-racked Russians and suspend trading altogether, in a bid, as Touati says, to stop "markets from sawing off the branch they're sitting on." The more likely solution, Touati predicts, will soon come as "smart and steely investors realize selling now is a sure way to lose, while buying now will determine who the big winners tomorrow will...
...will take courage to break from the herd," Touati continues, "but those who do it first are the masters of the market down the line...