As we say Happy New 2010 year, we are deemed to look back at the eventful 2009. We left 2009 with some great winners and some bad losers and the verdict was mostly because of market timing. Winners are those who cashed out at the beginning of the year and invested in march. Investing in the MSCI emerging market index gave a return of 72% YTD and 110% from its March lows. World stocks surged approximately 30% for the year but a whopping 75% from March lows.

On the commodities side, gold grabbed headlines with its late surge and gained 24%. It is considered a good return, but not when compared to the great oil which spiked 75%.

Losers are those who waited a long time to jump back into the market. Realizing the recovery too late would have a huge opportunity cost, i.e. investing in the global stock market in june, just 3 months later after the beginning of the rally would’ve made you lose 50% in potential gains. Others got caught into a black swan event such as the Dubai crisis and the Greek government debt.

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