With 2008 only a few days away I would like to take this opportunity to wish all my readers a healthy, wealthy and Happy New Year.
I personally love the final days of the old year as I see it as the perfect time to get rid of any clutter, as well as giving the house a thorough clean! As in the Chinese New Year, the aim is to sweep away all the bad luck from the old year and clear the way for good luck.
As traders and investors we will need much more than good luck in 2008 as the financial markets will continue to be volatile. In the currency markets I expect the pound dollar and, to a lesser extent, the euro dollar to continue on the downward path which started in mid November. Interesting currencies to watch include the Brazilian real and Singapore dollar.
The euro is continuing its upward trend against the British pound and again i expect this to continue as the British economy begins to slow at an alarming rate with further interest rate cuts and the property market teetering on the brink.
With regard to equities I am following Warren Buffett who is giving the US stock market a vote of confidence by investing once again in US shares. On the evening of Christmas Day while his rivals were still digesting their sprouts, Mr Buffett announced that Berkshire Hathaway was paying $4.5 billion (£2.25 billion) for majority control of Marmon Holdings, an industrial conglomerate owned by the Pritzker family of Chicago.
If you are unable to follow Warren I have added a new page to the main website explaining the best stocks to buy. At the bottom of the page you will find some suggested stocks from my own watchlist, which will be updated on a regular basis. In case you do not feel confident with investing in the real market have a go with the fantasy game on this page – its free and you can win cash prizes!!