Location: Taipei J.P. Morgan Office Investment Strategy Meeting Join
Travel note summary: I was testing some trading strategy programs until midnight last night. This morning, I headed to the J.P. Morgan office opposite Taipei 101 to attend their 'Investment Ideas for 2012' Taiwan Analyst Day. Several analysts covering the Greater China market took turns presenting. The morning focused on the tech industry, followed by a video meeting on China Strategy at noon. The afternoon covered emerging markets and other sectors like energy, transportation, finance, and consumer goods. The general conclusion aligned with our firm's house view: the economy is likely to bottom out around March–April or the second quarter next year. For Taiwanese stocks, besides global fundamentals, foreign investors are particularly concerned about the election results in January. Overall, their outlook wasn't overly aggressive or conservative—they expect a recession in Europe but not as severe in the U.S., and China, though affected, should still maintain over 8% GDP growth. Mixed news is reflected in the recent volatile market swings. In summary, while stock valuations are low, there isn't enough reason or mom…
