Yesterday the US markets rallied strongly after Tim Geithner gave the markets a glimer of hope. He said the US banks had enough capital or access to enough capital to see them through the downturn Today the IMF has come out and said the global bank write offs may be larger than expected.
Is MR Geithner too optimistic and are the IMF forecasts too negative?
Interesting to see that LVMH the French Luxury goods may consider spinning off its Moet Hennessy brands to Diageo.
Are luxury goods stocks a better investment because of the quality of brands and ability to maintain pricing?
Recently PPR's brand Gucci had an increase in sales for that brand.
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