CFA Emirates hosts financial markets outlook seminar

Attended by an estimated 57 charter holders and professionals from across the UAE's financial sector, five leading international and regional speakers provided a summary overview on a range of issues which have affected local and global investment markets since the recent economic downturn. They were also given an insight into potential and anticipated prospects for 2010.

Key speakers at the event included:

• Nikolai Nadal, Director, Hawkamah Institute for Corporate Governance.
• Jason Trennet, Managing Partner & Chief Investment Strategist, Strategas Research Partners LLC.
• Tom Keene, CFA, Editor-at-large, Bloomberg News.
• Kurt Schacht, Managing Director, CFA Institute Centre of Financial Market Integrity.
• Bob Luck, CFA, CPA Director, CFA Institute Centre of Financial Market Integrity.

Other topics presented at the event included a global market status report and prospects for recovery, recent government interventions and their impact to date, pending global regulatory changes and the overall implications for portfolio management within specific industries and markets. Important highlights of the discussion included:

• The current recession has differed from recessions of the past, as it has been lead by weak bank profits rather than by weak consumer spending.
• The key challenge, for regulators and governments, in this recession is in addressing both deflation and inflation.
• Predictions were made for a 'square-root' shape recovery pattern emerging in the near future instead of a 'V' or 'W' shaped recovery.
• The panel advised on going long on equities, commodities and short on bonds.

Yacoub Nuseibeh, President CFA Emirates, said:

"We are all aware of the many upheavals that have happened across the world's markets over the past year or so. This has had an incredible impact at every level and across every market in every country. But as we continue to assess the immediate challenges, as economies begin to recover, we can also start to look at lessons learnt and to see what real opportunities exist moving forward."

He concluded, "Our financial markets outlook seminar is an annual event where we bring some of the finest minds to the UAE as part of our ongoing commitment to develop thought leadership and to inform and educate our members. Being a CFA charter holder means attaining the ultimate investment professional qualification in the investment industry. In hosting events like this seminar throughout the year, the CFA Emirates society is continually looking to be the most respected, impartial and most knowledgeable and professional source of advice and comment on all investment matters."