Its that time of the year when you sit back and take stock. Of the year gone by and plan ahead for the one that is to come. 2010 was in a way a great year. The Indian stock market nearly scaled back to previous all-time highs before giving up some of its gains to catch its breath.
International financial news was dominated by the PIGS (no not the animal variety, but the countries of Portugal, Ireland, Greece and Spain). The domestic economies were on the verge of imploding for these countries. They are still not out of the woods, the problems are now known (atleast I hope so!!) and steps are being taken to bring their economies back on track.
Throughout the year we saw tension between US and China on the currency front. Going by past record, that is one problem that is not going to be sorted out any time soon.
The commodity cycle seems to have reversed in the last 12 months. A lot of commodities including rubber, copper, zinc, steel, gold and silver scaled new highs or are tantalizingly close to their old highs. This may continue and oil may also join the party. The consumption boom in India and China is not going away anytime soon, so commodity prices in my opinion will remain in an upswing in the future.
2010 was an interesting year overall. I am sure 2011 will bring in its own share of ups and downs. It promises to be an interesting year for me as I formally start my portfolio management initiative.
Wishing all a great year ahead :-)
Happy New Year.
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