December 20, 2004

Our interpretation of the world, regional and country bourses is a bullish story full of hope. The question is whether the world economy can continue on its growth path without any inflation as well as continuing making progress in the war against terror. The performance of the different bourses suggests that democracy, well defined property rights and market oriented policies are a great elixir for economic well being. In many regions of the world, policies are clearly moving in this direction and that is a bullish story for the world economy.

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