Without hopefully any big surprises, the All Share will now stumble along to the end of the year with a modest 1% for the month and a totally unexpected 30% or so for the year. Compared to the giants of the emerging markets clan this performance was quite measly but it is right in line with the big boys like the Dow and the Footsie. Ex-Federal Reserve Governor Sir Alan must have again annoyed his successor by pointing out that the wealth increase created by this market gain has easily outstripped the stimulus package that Dr Bernanke has been promoting. Americans, he claims, are once again rolling in the green stuff and are ready to resume their mission to spend the whole world rich. I shall wait to see how this one pans out. There’s a vital point missing there somewhere I think.
I do not, however, need to wait to wish the loyal readers of Tidemarks a very merry Christmas and a healthy and happy New Year. To my clients – thank you for your support. To my friends – may we see more of each other in 2010. To all the other readers who are not in either of those two categories – why not?
Even the boere in the English team were looking roasted out there on the Centurion pitch yesterday. Five day cricket is the real thing.
James Greener
18th December 2009.
