Coming back to the basics

In this article from the Financial Times, the chief of the JPMorgan Chase has announced uninviting prospects in the year ahead. Mr Dimon has predicted deterioration of the economy in 2009, with the rising worry that shares on both sides of the Atlantic will have fallen, that banks might need more capitalization and consumer retail will sag further. JPMorgan, which has fared better than its rivals, has just reached break-even in its 4th quarter results.

Mr Dimon has told the FT that JPMorgan was prepared for an expected deterioration in consumer-oriented businesses but added that if things were to get worse than expected it would have to cut costs again. He further added that the bursting of the credit bubble would force the banking industry to refocus on its traditional businesses of advising on deals and lending to companies and individuals.

With the current state of affairs, more and more industries are going back to the fundamentals of economic principles. We at Assetton have always believed in the value of REAL PHYSICAL INVESTMENTS that follow REAL ECONOMIC PRINCIPLES that yield REAL SUSTAINABLE RETURNS. We offer the best wine, art and land investments that will give you the safest and timeless investment vehicles that ensure no such deterioration that banks and indices report these days.