The great investor takes the temperature on the entire market (since he does so much in the distressed space)
- Mood of the market was not overconfident or pessimistic and they were under-owned. Currently, interest is modest. Equities do not have too many overly bullish commentators
- Bonds, people were not bullish but were forced to go further up the risk curve to take on more risk
- FED did a great job making people retake risk taking
- People overpaid for bonds and treasuries
- Investors should see the words “languishing” as an opportunity meaning things are “getting cheaper”
- Emerging market gotten cheaper relatively cheaper to developed and worth a look
- Secondary and Tertiary real estate in non-core city. He does not feel strongly using REITs to play the real estate
- On having colleagues or trusted people to control your emotion in boom times so that you don’t get overconfident
- Things come back, people overestimate fear
- Full transcripts here.
Latest posts by Kyith (see all)
Thursday 1st of August 2013
Yes, agree with him, market always come back, so weak price is a sign to buy rather than a fear factor to sell.
Thanks for the article.
Monday 29th of July 2013
though unrelated here, I would appreciate your answer regarding my question on SingPost. I am surprised to read, in its annual report, that the Group CEO Dr Wolfgang Baier got paid S$1.25 million, in addition to share option worth S$435K. That is much more than the total remuneration of all directors put together, including Chairman Lim Ho Kee. Do you know the logic of this remuneration structure?