Thursday, 20 November 2008

If you go down to the woods today...

...beware the four big bears. From low can it go? Quite a bit lower, of course. But I do sense real value in the market. For the first time in two years, I'm thinking about a cautious long of UK industrials with solid earnings. Not US, because of the currency risk. Not banks, because one big problem - like Citi needing a further bailout - could further bomb the sector. Not insurers because I distrust their accounting. And certainly not retail.



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