The enormous financial stimulus packages created a unique boost to financial markets this year. Low interest rates may have also driven money into equities. It was simply a year of incredible returns for anyone who was buying at the beginning of this year. Everything went up and a lot. But 2010 will have more differentiation as the reality of the debt sets in. Governments will be finding an end to printing money, zero interest rates and trillion dollar packages as well as consumer schemes. Investors will have to be selective. CR Capital is recommending that our clients stay the course of emerging market hallmark equities especially in Financials, Energy and Materials but it will be tougher sailing in 2010. We will have to carefully watch our average prices. guard cash and have the guts to build positions if one of our stocks sees some downward volatility. Buyers partied in 2009. 2010 will take skillful sailing.
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