DO THINK TANKS TANK?

Dear Filipinos, all over,

May 24, 2016; PSEi closed at 7356.72; Philippine Daily Inquirer reported remarks from UK-based think tanker Oxford Economics warning our newly elected president that “rough talk will turn-off investors”.

May 29; PSEi closed at 7411.68 at weekend; WAWD, storyteller, and tracker of future history, responded by saying “ma’am, I respectfully say I don’t think so, investors are smarter than you think”. Putting money (or beer) to its mouth, WAWD placed a bet for 3 bottles of beer that our stock market will perform better in three months.

On July 22, almost three months after the elections, and almost two months after WAWD placed the bet, PSEi closed on high volume, at a 14-month high of 8102.30, hovering close to its all-time high of 8127.80. We don’t know if Oxford Economics took the bet, but if it did, would WAWD have won the wager? It looks like it did!
Beer, or even just the thought of it, could not be sweeter than this.

Cheers and bottoms up!
--Bob Calida
WAWD July 24, 2016