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Par Daniel Van Hove, CFA, Managing Director Bellatrix Asset Management S.A.
EQUITIES
U.S. equities had a pretty good year 2010 overall. Despite the negatives (U.S. unemployment and housing hangover, near financial disaster in Europe) and few surprises, like the terrifying " flash crash on 6 May (a 1,000 point drop), investors had all reasons to be satisfied especially if they owned shares in highflying technology stocks, old-fashioned industrials or gold. In many cases, the conventional wisdom was wrong, said Byron R. Wien, a veteran market strategy at the Blackstone Group, quoted in the International Herald Tribune (IHT) edition of 3 January 2011. The typical U.S. equity fund returned nearly 19% in 2010, while the SP 500...
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