February 23, 2010
We are comfortable with the Australian market, but less comfortable with overseas markets in Europe and America, particularly the latter. The latest reason given for market fragility is "the Greek debt crisis". For reasons outlined below we find this a difficult rationale, but the fact that it gets widespread acceptance as a valid reason indicates the fragility and volatility of the economic and market recoveries.
February 16, 2010
We are in day 19 of the current downward retracement. The All Ordinaries has retraced 6.6% since the high of 4981 on 11/1/10 to Monday's close of 4570. The S&P 500 has declined 6.5% from the January high of 1148 on 14/1/10 to Friday's close of 1075.
February 9, 2010
As at 30 September 2009, funds management institutions in Australia had over $1.3 trillion of consolidated assets. However the global financial crisis has triggered a wave of distrust towards the financial services industry, which now faces a review of regulation practices.
February 2, 2010
Once again Australia Day has been and gone and we have a lot to enjoy here in Australia, with a stock market up 46% from the March 2009 lows. Nevertheless our solid growth is unavoidably linked to the new great world power that is China.