How to avoid picking lemons in this scary stock market

Warren Ingram, Financial Adviser at Galileo Capital, helps us get smarter about stock choices during these tough economic times.

We're almost living in a dual personality world where everything is either great or its terrible. When we are in a situation like this just exercise a litttle bit of restrain, and be alittle bit cautious of overreacting in any direction be it positive or negative.

Warren Ingram, Financial Adviser at Galileo Capital

Ingram says the reason he is concerned about the state of the world outside of South Africa right now is that a lot of the immediate future of stock markets direction is going to be dictated to be central bankers.

In Europe people are literally storing cash in safes rather than in banks because it is going to cost them money to do so.

Warren Ingram, Financial Adviser at Galileo Capital

Ingram is seeing opportunities in the resources sector.

I think its too early to call the recovery in the resources sector completely, but if you listen to the CEO of Glencor for example, saying that at least he thinks we have reached the bottom of the cycle, then it doesn't take much from there for things to turn on a sustained basis. A soon as we get that little bit of demand then I think the opportunities are there.

Warren Ingram, Financial Adviser at Galileo Capital

Listen to Warren Ingram explaining the value of buying bank shares. Her says they are well prices and the returns are good. He also takes a look at the rand's recovery and says it is an important trend to watch.

Look at the gold price as an indicator of where the rand will go.

Warren Ingram, Financial Adviser at Galileo Capital

He is a cautious about moving too fast off-shore right now.

What I would be really careful of doing is committing a lump sum off-shore at these levels. But I think the rand needs to get a bit stronger before I'd be putting a lot of money out of the country but I think it's one to watch right now.

Warren Ingram, Financial Adviser at Galileo Capital

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