Quote:
Originally Posted by macker
If you take the TSX for example the recovery has actually been steady. Relatively speaking it hasn't been too high too fast. Look at a 1 year chart http://investdb.theglobeandmail.com/..._listing=TSX-I The market obviously has a long way to go to get back to where it was 1 year ago. It is a slow and steady climb up the wall of worry... |
Markets have recovered about 20% of the 50% downturn in Canada and that's probably a fair value since talk of "depression" has given way to talk of "end of recession."
To go back to where you were at the lowest moments would imply you would have to reconstruct the vast uncertainty and feeling of impending doom that existed at the time . . . . . good luck with that.
At the end of any bear market, there is a period of what I would call "easy money" where the mood suddenly changes and the first days are euphoric if not a little unbelievable.
We've gone through that period.
The headlines - the lagging indicators - are gradually starting to confirm what the leading indicator - the market - has been trying to say for the last five months.
It's also interesting that most global markets, in Canadian dollars, have provided negative returns this year, largely because of the Canadian dollar. If you weren't overloaded in Canada, you were behind the ball.
Cowperson