In a post in Oct 2014, I noted down some of the predictions of some of people working in the finance industry for the rest of the year. So this post is to see how true their predictions are.
UOB Asset Management chief investment officer for equities and multi-assets, Mr John Doyle:
" Given the cyclical pickup in demand, we are overweight on the technology sector, which continues to benefit from rising corporate expenditure and the IT upgrade cycle that has been suppressed so far due to prior uncertainties" -Re-read the sentence a few times and still don't quite understand what he means.
"Mr Doyle is most bullish on US stocks and neutral on Asian markets." S&P500 up 5% from 1967 to 2059, iShares MSCI All Country Asia ex Japan ETF remains at 16.
"Singapore market will likely remain range-bound in the quarter ahead" STI up ~3% from 3253 to 3365
OCBC Investment Research head, Carmen Lee:
"As such, for the Singapore market,..., we expect the typical year end lull period to persist"
In addition, OCBC Bank economist Barnabas Gan gold price will drop further for the rest of the year while Mr Lim Say Boon, chief investment officer of group wealth management and private banking, believes gold "is likely to be trapped sideways over coming months" iShares Gold Trust (IAU) almost flat at end of 2014 at USD11.53.
For the fun of it, I'll give my take: Equities worldwide, especially the US market will suffer a drop and gold will rebound. I'll revisit these predictions towards the end of the year. I'm totally wrong.
So based on this post, will you put more trust in the professionals in their future predictions? I'll leave it up to you to decide.
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