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Hello Crazy Fans,
Normally, at this happy time of year, I'm nearly always pretty bullish about the year to come. And, indeed, looking back at my early January contributions to this modest column over the last 8 years, I find that optimism usually comes in spades.
I fear I can't be so cheerful this time round, though. This is not because there is certainty about a downturn in 2008. If that was the case, the Footsie would have already started a mad descent.
But uncertainty will possibly mean that the Footsie will hang around at its present level - or thereabouts - until there is more evidence of a coming recession - if indeed there is going to be one.
So I expect January to be rather a quiet month. Though there will be huge drops one day, it will be followed by a balancing momentum on the next day. Result: stalemate.
This is not a good situation for share shifters of the more energetic sort. But on the other hand, I for one, feel the need for some stability after a pretty turbulent year.
Personally I did not do as well as I normally do in 2007. Northern Rock saw to that. Together with some other UK banks.
But oil stocks rose on the whole and cancelled out a lot of the pain. However, I hope 2008 will be better for me, as I like a reasonable lifestyle, even if materialism is not a priority as it was in my wicked youth.
I hope you all have a Happy New Year. On the whole I think recession will be avoided and there will be opportunities to make a few bob. But what do I know? God bless!
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