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Published on: Friday, February 27, 2009

Richard Cripps, the chief investment officer of the US-based Equity Compass Strategies, thinks a rally is at hand! And get this, he told CNBC that he thinks the Dow Jones Index could go up 50%! On the local front CommSec says new business investment soared 6% higher in the December quarter, underpinned by an 11.5% lift in spending on buildings. CBA/CommSec had forecast a 2% rise while all other economists had tipped a decline. Businesses now expect to invest $98.1 billion in 2008/09. While the result is predictably lower than the previous estimate by 4.4%, it’s still 14.3% higher than a year ago. This is good news for commentators like me who have been arguing that we COULD miss out on a recession! 


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