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2009
Wed1318 6 June 2007 and very nice to have Olivier d'Auriol back
Tue 19/12/2006 Dear David, Dear Diana,
Lucie and I will be in Gstaadt after Christmas and we will not be in Montreal. Thank you for kindly think about my possible presence.
At this last Wednesday of the year some of you will make some forecast for
2007 and you will probably remind them of the forecast they made a year ago for 2006.
Here are the forecast made a year ago by some highly regarded institutions:
2006 European GDP growth +2.75%. The European Central Bank forecasted +1.9%
2006 Swiss Share Index(SMI):>b>+16% as of today. UBS forecasted -17%, Lombard Odier Darier Hentsch forecasted -3%
2006 S&P500: +14% as of today. Bloomberg consensus survey forecasted +6%
2006 S&P Europe à ce jour. S&P Clive McDonnel forecasted -7% Etc.
And of course a very few analyst were right, but they are rarely the same ones to be right every year...
Merry Christmas and a happy new year to you all.
Olivier
D'AURIOL ASSET MANAGEMENT S.A.
Member of the Swiss Association of Asset Managers\
C.-F. Ramuz 111 - 1009 Pully, Switzerland
Tél.: +41 21 711 0170 - Mobile: +41 79 607 8860
Email: olivier@dauriol.ch - Internet: www.dauriol.ch
Olivier d'Auriol see:Wed1191.asp, CEO of Olivier d'Auriol Asset Management SA ("The Mother of all Funds of Funds"), will again be with us this week and Jacques Clément will also be with us to give his overview of the North American economy; Jacques also plans to devote part of his review to China's economy. In anticipation of a focused discussion of the North American and world economies, we have done our homework, - including one or two off-topic stories that may capture your imagination -, which we offer below in preparation for what should be a most interesting evening in the company of experts.
David and Diana Nicholson
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Andy Nulman 
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