Richard Harris of Quam Asset Management has expressed his frank opinion on global markets and US in particular and is speaking positively on the state of affairs in U.S. His views are appended below and we quote:
“Actually the US news is probably the best news of all, because it shows that the whole of the world isn’t necessarily in recession. To a certain extent, I do feel that we have probably seen the lows in a cycle already. I know that’s a brave thing to say, but it means I am more bullish than bearish. The first quarter is indeed going to be difficult still for China and maybe for India as well because demand is slowing and these things take little time to come down and turn around. So I am quite cautious for the first quarter. I still think we have got a floor under the equity markets because they are so cheap. But I think we have to be pretty cautious. I wouldn’t expect anything except for a fool’s rally maybe till about March-April.”
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