TRIMBROKER (TRIMBROKER)
Markets  |  January 09, 2013 16:18:54

The stock market is dead. Long live the stock market.


iPoint.cz With a new year on the stock market is always coming even expectation of price targets for each stock indexes at the end of the year. This analytical zápolenie has a long history, and although the majority of analysts is not right, nothing shall prevent them from making a new year again published the other estimates based on a number of variables, the result of which is always one number, a standard higher than a year previously. And investors im wrong forecasting always forgive, lead events such as the restructuring of Greek debt or commitment to the ECB bond buy troubled countries could not be expected.

If however we look at the stock market as a whole, we find that its attractiveness and dynamickosť last-time decreases and the attention has been receiving mostly bonds. Not tie the state, about which I hear most often as a large bubble, but a corporate bonds. Bonds with lower quality because after two years earned himself an investor most of all the main groups of assets. Surpassing even the shares of small companies. Does this trend tends to continue in the future? Probably.

The stock market is still coming less and less and so the companies from shares, once najatraktívnejšieho market at all, only existing market shares Apple, marked by multiple Flash overflows and also the Wall Street becoming a paradise for high-speed business systems HFT.

In 2012, the company acquired an initially globally úpisoch shares, thus IPO, len 112 billion USD, which is the least since 2008. In Europe, the IPO volume was one-third compared to 2011, half are in Asia and the U.S. for the same level can thank Facebook flax decision to enter the stock market.

But this is not a new trend. Who between the years of 1980 to 2000 on average in the U.S. they went to the exchange companies, 311 per year from 2011 to 2009, this figure dropped to 102 This decrease was most prominent view in small firms. There have decreased the number of companies which wish to go to the exchange to 29 of 165

Where can we find the reason of this development? High-regulation of listed companies is probably just one of the reasons.Rather, we look at the trends in private-equity companies which aggressively skupujú Prospective small businesses that would in other circumstances could be listed and also on acquisitions from large players on the market. Firms like IBM and Google skúpia year dozens of companies, thereby reducing the number nominated for the IPO.

London is also an example of which is the number one objective for the company from Eastern Europe that wish to enter the stock market. While in 2002, was on the stock market in 1531 the companies by the end of 2012 was their 936th flax

In private hands is so much available capital, the prospect that the company did not need a search thousands of investors in the stock market, but through various investment clubs and Said private-equity firms will find several partners without much effort.

A good example of this trend is Facebook. While the company has grown aggressively and every year an investor could expect to earn hundreds of percent, at the time of placing the stock market was at its peak of forwarding and end investors remained the eyes alone to cry. This means that the market is gradually becoming výkladiskom only to companies that already have the largest growth stage in a row.

So it means that the stock market is dead? Definitely not. Len Needless to rely on the fact that the shares the investor will effortlessly rake in the next 10 years. Active portfolio management and also behold diversification in bonds and commodities becomes apparent over the next years as the correct way.

Author: John Benaki | TRIM Broker, as | Trading on exchanges TRIM Broker


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