Credit Suisse' report on 13 Sep listed 5 stocks as near 2008-9 P/B lows. These are SingTel, Capitaland, Olam, ComfortDelgro and SMRT. Do I rush headlong in? I don't think so.
Why? Because it is my personal belief that the stock market has begun a bear phase. Such phases last a while, and I am prepared to see the stock markets fall even further before venturing into it. Any rallies between now and then will be for unwinding, rather that adding positions.
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