Date: Sep 21, 2012
Thanks to PCCW invites us to go to Dr. Tan Kee Wee Talk again.
Usually, Dr. Tan Kee Wee gives the talk only once for the Hong Kong Business Association. But because HKBA has a new elected president, so, they asked Dr. Tan Kee Wee to give another talk this year to talk about the outlook for the next few months.
He pointed out the three culprits of causing the gloom of the economy.
1. EURO break up.
2. Weak China.
3. Trouble US.
Euro is indeed in trouble. If they kick Greece out, then, you will see PIIGS all will be out. By then, EURO will break. Just like last time USSR.
China is not as good as it seems from the surface. Corruptions is main culprit too. There are too many houses build but no body stay. The bridges were build within 18 months instead of 36 months. And this has badly affected the country, the economy. But thankful, the RMB is a controlled currency, so, it stand a better chance to survive.
US printing more money. No good.
Look at the trend, and with all the countries in trouble, the only way to make it work is to let it break. So, every one is expecting that the market will melt down after Oct-Nov, which i quite close to the Mayan prediction, except but this is economy meltdown. He predicts 2013 is going to be a very bad year.
Keep SGD$ he says. US$ and other currencies is going to be bad.
US, China, Gernany holds a lot of gold. :)
So, from now to Oct-Nov, sell sell sell.
Sell stocks, shares. Keep cash.
Sell properties. He predicted the properties will drop by at least 30-40%. Keep cash.
Interest will definitely rose. So, those who has mortgage will need to pay higher interest rate.
From now to Oct-Nov, the market will seem to be like good market, but it is the beginning of the crash market.
2014 will pick up again. so, if you keep cash, and then when the market crash, it is time for you to shop and buy.
By then buy buy buy.
So, year 2013 is the year of correction.
So, good luck!
Billionaires are dumping American stocks in US.
Disclaimer: The above summary are what I understand from the talk. I have limited understanding about economic, and finance. But after hearing the talk, I know exactly what to do.