Equity market outlook gloomy
Investors could witness share market rallies of up to 50 per cent next year, according to the chief investment officer of Platypus Asset Management, Don Williams.
Williams said the next bull market “is a long way off”, with the market now pricing in an Australian recession and the potential for the real low to hit during calendar year 2009. And while much of the bad news has already priced in to many sectors of the market, there is the potential that the low in financial stocks has not yet been reached.
Williams is of the view that “no government or central bank intervention will help Australian shares” and that the current market low is likely to be prolonged, lasting “much longer than 12 months”.
But there is the opportunity for market rallies of up to 50 per cent next calendar year, Williams said.
As such, his group is staying fully invested to take advantage of any rally or recovery.
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