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Less global liquidity = Lower stock price ?
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eric2007
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21-Aug-2007 11:50
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Hi Just want to have some opinion from others. In the last few years the market has gone up a lot because the world was supposedly flushed with liquidity. Now that some of this liquidity has been unwound and even wiped out due to massive deleveraging, does that mean that the "fair" value of stocks would be lower than before the correction that began end of last month? If so, what do you think should be the short-term sustainable value for the STI index? Somewhere closer to pre-2006, mid-2006, early 2007, or still mid-2007, or what? |
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