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The Masked Tulip

The Relief Rally In The Bear Market Is Close To Finishing

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(Has the market hit) bottom yet... Are you talking about S&P or are you talking even about Asia?

When I said we have not seen the bottom, I was talking about economic fundamentals, or economies. I don’t think we have seen the bottom in terms of some of the key asset prices. For example, housing in the US, I don’t think we have seen the bottom there. We certainly haven’t seen the bottom in Europe yet.

In term of the S&P, as a house CLSA, our view would be it probably peaked somewhere close to that 1,000 number, very close to that at the moment. And then, if that is the case, you would probably be picking numbers around 500-580, something in that sort of vicinity.

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