英文版里昂证券牛年风水指数研究报告2009-CLSA-Fengshuibook.pdfVIP

Feng Shui Index Year of the Earth Cow 恭 风 喜 水 发 指 财 数 Your monthly guide to the Hang Seng Index How will you fare? HOW NOW, BROWN COW? ear of the Bull? Hardly. And as for this being the Year of the Ox, it’s more likely to be remembered as the Year of the Axe. The reality is that most of Y2009 will be a Cow of a year, by name and by nature. A few months back, when markets were crashing faster than Niagara Falls, one of our analysts remarked, not entirely in jest, that not only had investors given up on fundamentals, they’d even come to despair of the arcane waverings of chartists. It had reached the point, the analyst reckoned, where investors were pretty much only taking calls from their feng shui advisors. What better time, then, to breathe the vital lifeforce back into our much-missed and disconcertingly popular CLSA Feng Shui Index, which over the years has been the bane of sensible analysts and investors by correctly calling the market uncannily often on the basis of not much more than wind, water, a bunch of fanciful farmyard animals and frequent recourse to spirits. This year, the divining duties of our venerated Wicked Witch of the East fall to Vonnie Chan, ethereally assisted by her market-mystic brace of Wand-bearers, Alex Cheuk and George Chan. So, what has 2009 got in store for us? Well, despite it THE CLSA FENG SHUI INDEX FOR 2009 +5 +4 +3 +2 +1 0 -1 E -2