I just got an email from "the dean" It says something about checking out stocks in Europe.
ATTENTION STUDENTS
Yesterday, Federal Reserve Chairman Ben Bernanke said the "recession is very likely over" for the United States and The Dean will agree that consumer and investor confidence seem to be turning around. The Dean has his eye on the European markets because reports of a third consecutive positive trading day could be further confirmation that recession concerns are slowly fading away.
Economists and strategists such as David Morrison of Global Forex Trading (GFT) also seem to believe this positive turn, saying "There are signs that the U.S. consumer is coming back to life, and that is playing out across Europe."
The Dean has done his homework and has been watching stocks like Inditex (ITX.M), Europe's largest fashion retailer, which has beat out prior estimates this year and is only down 7.6%. That figure represents consumer spending and shows considerably less economic damage than, say, WalMart (NYSE: WMT), which is down more than 16% year to date.
The Dean believes U.S. improvement, seen in fewer unemployment claims, rise in retail sales and the Dow Jones Industrial Average holding around 9600 for over a week could mean further gains for a number of European companies. The Dean wants his students to do their homework and take a look at the European markets. The London Market broke 5100 for the first time in a year, while the French and German markets saw similar restoration reaching 1000 after 11 months.
A Reuters report suggests that gains on Wall Street and in Asia could continue to be mirrored by the European markets. Bloomberg suggests that European and Asian markets have been running as a result of Warren Buffet's Berkshire Hathaway (NYSE: BRK.A and NYSE: BRK.B) buying up commodities and consumer goods.
Gregor Smith, a London-based fund manager at Daiwa Assets Management, suggested that markets could continue to rise because many haven't returned to the markets to buy back in to the rally. Billionaire investor Kenneth Fisher said in an interview yesterday that he believes global stocks are in a "V-shaped recovery" led by emerging markets that will increase for at least another six months. Fisher also said that he believes this rally started in March and could continue for a year.
The Dean believes that there's a lot of dormant potential in the European and global markets and he's clearly not alone. That's why The Dean has plans to travel across the pond to meet with the management team of an upcoming Ivy League Stock Pick.
Be sure you sign up to become an Honors Student to optimized your earning potential and learn about The Dean's Ivy League Stock Picks before the rest of the CollegeStock Community. And remember, The Dean has plenty of toys to give away to new Honors Students!
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This message was sent from The Dean at CollegeStock.com
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