Greetings from Europe

Given that I’ve just arrived in Brussels (centre of the ECB and EU negotiations!) I thought it would be appropriate to list every single risk possible for the markets

    1. Spain delaying its turnaround and asking for more bailout funds
    2. China slowing down further
    3. India slowing down further
    4. Civil Unrest in the Middle East spiking oil prices contributing to further decline in the global economy

Any one of the above could trigger an equity sell off, but in the end valuations and earnings are the name of the game and with the SET sectors such as bank, telco’s, tourism still performing well and the energy sector having underperformed massively this year any pull back would be short term in nature. Then again next year there is no added benefit like we had this year with the cut of corporate income taxes so best to keep a close eye on everything.

Management Trades 10.09.12 to 14.09.12

Notable Transactions


SAT – Director accumulates shares in the company, no surprise, SAT is one of the main beneficiaries of the automotive growth trend within Thailand as both domestic consumption and exports have done very well this year


MINT: O__o, owner sells 1 bil baht worth of shares…

TUF: There has been constant selling over the past 2 months by management, directors, major shareholders in TUF. Nothing dramatic or heavy but still its a never a good sign.