Bad news. The momentum of bonds has once again overtaken the momentum of stocks. Now is the time to ensure that your portfolio is not overweight stocks, and it may be wise to consider overweighting bonds. Bonds look attractive, as does gold, but the greatest momentum lies with Hong Kong stocks (EWH). 

My fair market estimate for the TSX has fallen quite a bit, and I assume that means corporate earnings have been disappointing. I know that’s the case for at least one of the companies I own. The economic outlook isn’t particularly rosy.

Market Outlook November 12, 2012

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