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UAE stocks are best investment bet
DUBAI — Buying UAE-based stocks is the best investment for the next decade, according to Peter Cooper, editor of the newly-launched financial comment website ArabianMoney.net.
On the back of a the recent rally on UAE-listed stocks, which appears to have lost its steam following a dire end of month trading day on April 30, Cooper suggests that a ‘big reversal’ is looming.
“If you own stocks, sell them,” said Cooper as the second edition of the newly-launched e-newsletter hit subscribers’ inboxes.
“ArabianMoney predicts a big tumble, simply because the market has rallied so high and for so long. Reality is now catching up.” He suggests that the economic recovery is sustained by artificially low interest rates and is really much weaker than stock prices indicate: “Interest rates are going to go up and that means lower equity prices,” he said.
Cooper’s ArabianMoney says get ready to buy long on the right UAE stocks when the market bottoms out, perhaps as soon as this summer or certainly by the autumn. Meanwhile, keep a sort rein on US treasuries. “I am convinced that the investment opportunities for the next decade are in the Middle East and Asia.” —muzaffarrizvi@khaleejtimes.com
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