Investment Outlook - December 2010

Hi,

Our last issue for the year ending 2010.

Some highlights:

• The bond market saw losses in November
  and has underperformed equities since
  October. There are signs of a gradual shift
  away from the bond market into equities.
  This should see the former consolidate in the
  following months.
• There is presently a heated debate about
  whether the bond market has reached an
  inflection point and whether the multi-year
  rally we have seen has ended. There are
  some who fear that bonds are not the place to
  be at this moment.

You can download this issue here.

Take this opportunity to wish all my clients a
Happy and Prosperous New Year in 2011!!!