The market is rife with opportunities for savvy traders despite the financial downturn, according to economic expert Mark Skousen.

Skousen, who founded the Global Financial Summit, which took place at Atlantis Paradise Island last week, said traders could strengthen their porfolios through targetted investments in growing sectors.

Natural resources such as copper have potential, according to the professor, who is a former president of the Foundation of Economic Education.

“The mining industry is in a much better position to make money for shareholders,” he explained.

Skousen’s other tips included the energy sector, real estate, foreign stocks and bonds and financial stocks.

“Mid-Western banks seem to be the place to be, the sweet spot, when it comes to investing,” he told attendees at the summit on Friday last week, emphasising that opportunities did exist for those who were willing to diversify their portfolio and adapt to the volatility of the markets.

“We have some real winners here. If you diversify your portfolio you are going to do really well.”

Skousen also attempted to allay fears over the financial crisis in Europe, saying: “The market is tired of [the downturn in] Europe. It is not dropping any more. There is not the panic selling like there was in the past.”

“I am optimistic. I consider myself a survivor in this business and my goal is to go with the signs of the times.”

cboal@dupuch.com