Buy and hold? Rubbish

Salomon Smith Barney argues that Asia is meant to be traded.

Han Ong, Salomon Smith Barneys Asia strategist, is advising fund management clients to dive into Asian stocks across the board in expectation of a boom fuelled by US interest rate cuts. And the reason to go out on a limb He has concluded that a buy and hold, strategy, the paradigm of sensible long-term investment, just doesnt work in this part of the world. So you might as well flit between sectors and cycles.

Ong has crunched stock earnings-per-share EPS numbers for the past seven years and found that the average Asian company has badly compensated shareholders and providing no EPS growth right across from Hong Kong to Taiwan and Korea to...

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