Morning all,

Gonna be short and sweet as I have to go to a CBA presentation!

Last night the Miltary action in Syria took a bit of a set back with the UK Parliament voting against it..so it looks like the US and France are on their own…no reason that they can’t do it all by themselves but does not have quite the same PR look..apparently  Obama said that his job is protect US National Interests so he is happy to go it alone if necessary..while he talks big I think the risk of a strike is receding big time…

The other big event last night was the US economy which was revised up to a GDP of 2.5%…good number and will ensure that the Tapering happens sooner rather than later…Zombieland gained but commodities fell on the UK vote news and the US gave up most of its gains to finish only slightly better…so expect a quiet end to the week.Oil and Gold down ..copper got thwacked so resources to struggle a little..

Idea of the Day

We are still piling up the risks and I would recommend having some insurance in the months to come…

Things to make me go Nooooooooooooooooooooooo!

Not Rolf Harris too…there goes another Childhood icon…’Tie me Kangaroo down sport’ will never sound the same again!!

Sports bet has already paid out on election betting..it’s all over Kev13..obilaration I am afraid..banished to the twilight zone…the biggest downside though is Christopher Pyne! How I hate that man ,let me count the ways!

Xero, the cloud-based accounting software developer, is a fifth of the way toward its vaunted one million customer mark as it makes inroads into the Australian market.

The Wellington-based company crossed the 200,000 customer number, adding 7000 in the last month and doubling its paying clients in 13 months, it said in a statement on Friday. Of that, Xero has built up 75,000 customers in Australia, up from 51,000 at the end of March.

iSelect has posted a mixed inaugural result, missing revenue forecasts in its prospectus and warning of potential ongoing pressure on sales fees. The comparison website company floated in June, iSelect yesterday posted revenue of $118 million for the year to June 30, up 5.5 per cent but below its prospectus forecast of $121.6m. Earnings before interest tax depreciation and amortisation, excluding the costs of its initial public offering, rose 10 per cent to $26.5m, slightly higher than the $26m forecast. Net profit rose 3.4 per cent to $13.4m and the company confirmed calendar year EBITDA of $30m, excluding IPO costs.

Perpetual says Equity markets are approaching a ¬“tipping point”, where confidence will be restored, volatility reduced, and more money will enter equity funds, Perpetual boss Geoff Lloyd said. Posting a more than doubling of ¬statutory net profit to $61 million for the 12 months to June

Vodafone Group Plc (VOD)’s planned sale of a stake in Verizon Wireless would mark its second deal topping $100 billion, giving the British carrier another shot at transforming itself and compensating investors who suffered a decade of writedowns. A sale of the 45% holding to Verizon Communications Inc. (VZ) for about $130 billion would be the biggest transaction ever after Vodafone’s 2000 takeover of Mannesmann AG, which led to years of losses and tens of billions in expenses.

Some of the fastest growing job sectors in the US says a lot about their economy…Skin Care, Personal Care, Human Resources, Coaches and Scouts and personal Financial advisers!

US Government is technically in default as its debt is not greater than Congress allows…more wrangling to come in September.

Currency crisises hits emerging economies around the World as the US starts to pull its money back home…Indonesia latest to put up interest rates! Brazil yesterday…

And finally…..thanks Hans…

After being married for 50 years, I took a careful look at my wife one day and said, “Fifty years ago we had a cheap house, a junk car, slept on a sofa bed and watched a 10-inch black and white TV, but I got to sleep every night with a hot 23-year-old girl.

“Now … I have a $750,000 home, a $45,000 car, a nice big bed and a large screen TV, but I’m sleeping with a 73-year-old woman. It seems to me that you’re not holding up your side of things.”

My wife is a very reasonable woman. She told me to go out and find a hot 23-year-old girl and she would make sure that I would once again be living in a cheap house, driving a junk car, sleeping on a sofa bed and watching a 10-inch black and white TV.

Back on Sky TV this afternoon at 5.30pm!!!

Have a great weekend

Clarence

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