little happiness over Philippine Stocks

Unexciting year
2008 has proved to be rather unexciting. Everyone is gloomy. Business is slowing down, oil is getting more expensive, and the dollar is falling. A more curious addition to the sad news is that food prices are going up.

Little upward movement
What I find very sad about our market's performance for 2008 is that even when all the good news of growing profits came in, our stocks tracked global markets and didn't really move up.

Foreign Influence
Domestic demand seems to be stable but since foreign buying accounts for about half of the activity in our stock market, there is still an umbilical cord to foreign markets. Generally, the world has been reacting to wall street and wall street's lead has been downard.

Unconventional Wisdom
Still, I remember my favorite quote from Warren Bufett: "Be greedy when everyone is fearful and be fearful when everyone is greedy". Follwoing that I'd still avoid investing in Philippine Real Estate and keep adding positions in Philippine stocks. If I could, I would even purchase U.S. Real Estate at foreclosure sales. :)

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