He noted that two of the main reasons for this had been the subject of some analysis 10X published early in 2022 (that SA equities were undervalued and that our market hadn’t been distorted by zero interest rates: As US hangover sets in, SA can be glad it missed the party)
Watch: 2022 a year in review with Anton Eser and Lindelwa Skenjana
As for his view on 2023, the Chinese Year of the Rabbit, Eser suggests taking a step back and looking at where we are in the (bear market) cycle. Reminding listeners of the definition of a bear market, Eser referred to the two other bear markets in the last 25 years.
Looking at that context, he said, it looks like we still have a long way to go on this one, even if the market is currently pricing in a soft landing.
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