I began this comment determined to try and sort out which of the various wild moves and reactions in the markets were due to the Zuma effect, the amazing bouncing dollar, the futures close out event, inflation worries, holiday indifference, or other mysterious yuletide forces. I soon realised that firstly, it would be an impossible task and secondly no one is really that interested. There have been numerous sightings of a bear in a Santa Claus suit, but he hasn’t yet appeared out in the open. It does, however, look as if December will not be the best month of the year for the JSE. Nevertheless, the year’s overall performance will still be much higher than inflation, showing once again, that it is important always to have a reasonable fraction of one’s investable assets at work in the share market.
But this is getting all too serious and businesslike. It is Christmas time, the offices are almost empty, the fridges are full and I hope your family (well, the ones you like anyway) is gathering around you. Please enjoy a very happy, safe and peaceful holiday.
James Greener
21st December 2007
