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Am I still bearish on equities? Yes. Why buy then? iCapital's NAV is selling for 7% discount , KLCI is around 900. This implies I am buying around around 830. I believe iCapital has taken profit on AirAsia and recent announcement of VADS privatization will allow them to make good profits. Their cash level will be high to take advantage of further market weakness. I can live with a little bit more downside. I will another $ 888 coming in 10 days, so I still have dry powder left.
Clogged credit market is easing (click here) will provide some short-term rebound. I may sell into strength. When ? I don't know, market is fluid, so am I.
hey, this i capital was the first quoted that the US subprime will not cause recession in US..
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