According to a UBS report entitled, “Proceed with Caution,” the year to come should be tackled carefully in terms of investment opportunities. The report identifies potential opportunities and highlights pitfalls to be avoided by investors as the global economy slides further into recession. It also looks beyond the present crisis of confidence occurring the world over and forecasts investment returns for major asset classes and regions. The report indicated it was time to calculate risk, noting “attractive valuations of certain assets must be weighed against the risks stemming from a global recession. We remain defensive overall but recommend increased exposure to corporate bonds.” The autonomy of a price collapse Bernhard Kern, executive director of Investment Solutions at UBS AG, remarked that over the past 129 years the SP 500 has had 44 negatives overall. “Among assets that have taken the hardest blow during the credit crisis are featured oil, followed
