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WATCH
He likes the Royal Bank of Scotland, and thinks that this bank will be "in a bit of a dogfight" with the RBS consortium over the ABN
If they win the bid (25% chance) then he feels they will loose their focus.
If the don't win the bid, he feels they may become a takeover target themselves which will spike the stock.
banks
HOLD
The problem with the YEN is that the Japanese investors have little faith in their own economy, due to low interest rates. (for example Japan government bonds are offering less then 2% return, and bond yields are lower then any other major market.)
The fundamentals of the Japanese economy is not that bad, so it shouldn't be weak, but it is because so much of the domestic money is going abroad.
Nothing wrong with Toyota. The only problem with Toyota is the YEN, as well as concerns with the US.
Fundamentals are fine.
Automotive
PARTIAL SELL
European Utilities have been strong performers for the last 3 or 4 years. Interest rates are starting to move up, which raise the question of if they can continue as they have been.
From a fundamental point of view, it's likely that these utilities will do well.
These are defensive stocks, so it might be smart to move some money out, take some profits.
electrical utilities
