London, United Kingdom (PressExposure) October 29, 2009 -- "Zen International" analysts are said to be concerned at the current vogue for talking up the US economic recovery. Sources close to the Asian-based investment house say the analysts reportedly slammed mainstream commentators in a scheduled email to clients.
The email apparently suggested that "Zen International" couldn't fathom why said commentators were constantly being surprised by negative statistics when jobs were still being cut and home foreclosures were still increasing.
One of the sources cited recent news that US consumer confidence "unexpectedly" fell in October as a premium example of the herd mentality pervading sectors of the investment industry. The source added that investors needed to come to terms with the fact that the US consumer is tapped out and that the rally in equities bore no relation to what was going on in the real economy. "Zen International" has advised its clients to avoid the US equity space until such time as the markets have corrected "significantly" as prices are at unjustified levels.
Analysts at the firm reportedly accept that stock markets inevitably look forward by a year or two but they feel that expectations of a solid and sustainable return of consumption within that time frame was unrealistic and suggestions to the contrary was misinformation that could prove damaging to investor wealth.