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This was how bad 2008 was: Sell NOW and WHAT next?
Panic never is a wise friend:
  • REAL ESTATE ...Down by 15% to 50% (and more) depending upon the country.

  • ICELAND...Bankrupt...Oct.2008 nationalizes banks; turns to International Monetary Fund for help.

  • BALTIC DRY INDEX...Down 90%... a leading indicator of shipping rates & global trade.

  • JAPAN (NIKKEI)...Down 81%... from all time high of 38,957 on December 29th 1989.

  • RUSSIA (RTS & MICEX)...Down 77%... exchanges shut down several days to stem panic.

  • CHINA (SSE)...Down 72%... from all time high of 6,029 0n October 16th 2007.

  • KOREA (KSE)...Down 68%... from high in May 2007.

  • ARGENTINA (MERVAL)...Down 64%... moves to take over $30 billion in private pension funds.

  • INDIA (BSE)...Down 60%... since January 2008.

  • TURKEY (ISE)...Down 59%... from high in November 2007.

  • HONG KONG (HANG SENG)...Down 55%... past 12 months.

  • ITALY...Down 53%... past 12 months.

  • BRAZIL (BOVESPA)...Down 52%... from May 2008 peak. Trading suspended 5 times in 3 weeks.

  • FRANCE (CAC)...Down 50%... from June 2007.

  • GERMANY (DAX)...Down 50%... year to date.

  • GREAT BRITAIN (FTSE)...Down 47%...from all time high of 6,930; now “officially” in recession.

  • MEXICO (IPC)...Down 47%...since June this year.

  • AUSTRALIA (ASX)...Down 45%... from all time high of 6,829 on November 1st 2007.

  • U.S.A (DJIA)... Down 46%... to 8,154 on Oct.10th 2008 from 14,198 on Oct.11th 2007. Interesting that the American market (where this crisis all began) is down less than so many others...but not surprising really with the U.S. Fed prepared to monetize as much debt as necessary to avert a Financial Armageddon.

  • OIL...Down 54%... after peaking at $139 in June 2008. OPEC Nations hastily cut supply.

  • COPPER...Down 50% from July 2008 high.

  • NICKEL...Down 62% year to date.

  • $- GOLD...Down 20% +... from high of $1,010 on March 17th 2008.

  • € - GOLD…UP to STABLE

  • £ - GOLD...UP

  • ZAR – GOLD…UP

  • AUSSIE – GOLD…UP

  • For BONDS the answer is function of the currency and the inflation rate of that currency. The general rule is that they are a LOSS.

  • CASH was worse than BONDS - except for the lucky YEN  holders. The general rule is that they are a LOSS because of the Negative Real Interest rates. Remember, Paper money is debt...

  • The Dollar gained 10 % against the Euro.

  • The Yen was the strongest currency and was up both against the Euro and the Dollar.

 

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