So 2010 is over and I think the most important thing about the year was that the world didn't end as many doomsayers would have had us believe it would.

The key features of 2010 for me were;

• Double dippers have gone all quiet. Make no mistake they'll be back at some stage in 2011 - but really their argument needs some serious boosting.
• Hyper inflation is still a million miles away, if at all.
• Gold still flatters only to deceive. Yes gold had about it's 7th green year in a row gaining 28% in US$, but once again SA investors got shafted as it gained only 14% in Rands while the ALSI did 16% (excluding dividends).
• The real precious metal winners where Silver +82% and Palladium +95%, nobody was talking about them at the beginning of 2010.
• The local market did all right adding 16% with most of that gain coming in the last quarter of the year.
• Capitec continues its crazy run adding 118% for the year while Famous Brands added 91%.
• Local indices all closed green; Top40 +15%, ALSI +16%, Fini15 +10%, Indi25 +24%, Resi20 +11%
• The ALSI is just shy of the all time high of 33,233 set in May 2008.
• US indices are all at multi year highs.
• Europe has seemingly worked out how to save countries that are on the brink of debt default. Sure it is still messy and the media get all frothy every time and we'll see more in 2011 - but a default looks very unlikely (and yes I had thought we would almost certainly get an EU country default).

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