Another year had ended for the stock market, the Philippine Stock Exchange index (PSEi) gains 4.68%, a bit better compared to -12.76% loss in 2018.
At the beginning of 2019, when PSEi hit an all-time high at 9,078.37 on 29-Jan-2019, almost all in-house Trading Participant’s Analysts were more bullish and even said that PSEi will close above 10K before year-end. In fact, most fund managers were confident that the consensus earnings were in an upward trend and seen CAGR (compounded annual growth rate) growth earnings uptick for 2nd half of this year. Again, as usual, they’re all wrong.
I have been in this market for over 4 decades, and for me, only one thing is certain that in each loss there is a gain, as in every gain there is a loss. In which I referred to as a high profile gambling and like any gambling, there is always a clear winner and loser and the winner takes it all.
DISCLAIMER: I'm not a Certified Financial Planner. Published herein is my personal opinion and should not be construed as a recommendation, an offer, or solicitation for the subscription, purchase or sale of these securities.
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Hoping for a prosperous 2020!!!