This article along with a few others has convinced me the beats are about to get shafted hy the bulls and a massive short covering rally.
A small section of what I received yesterday:
Source: Goldman Sachs.
"7. There is a tidal wave coming for the equity market & it’ll some time soon & will keep going for a while as the instos try to get risk on. Imagine you were a defined benefits super fund in the US & with cash rates at 1% and staying low until 2013, you need to make a decision sooner or later to move out of “underperforming” cash & into something that will make money – you have no choice in this – so these guys could be the first to move, then the
hedge funds who are short & also heavily cashed up go next & then the neutral instos & public will follow.
8. Equities are primed right up for the mother of all rallies over 2012 which could be (as ridiculous as it sounds today to almost everyone) a +20% to +30% rise for 2012. Many will at the end of the year look back & saying it seems so obvious now that with all that what was happening in the world from December 2011 to February 2012 that 2012 was going to be a big one.."
tea anyone, page-30
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