Morning all,

I will make this pretty brief today as I have been in a presentation for KAR this morning..onwards and upwards as today we will recoup yesterday’s losses.back towards 5450 and onwards to 5600 by Xmas…bear in mind tough that we have rallied 5.3% in two weeks!!!Since Kev13 took the reins….sorry about the pun…and then lost the election the market has moved from 4650 to 5450!!!Pretty impressive..go those banks…

I suggested on TV today that you “buy the banks and die with the banks”..with their cash flow and dividends there is probably never a great reason to sell them! Just keep taking the money…Most investors will I suspect pass their banking shares on to their kids..the only ones that really get stuck in to selling them are the hedge funds who believe that the end of the Australian housing market is nigh! well you got that wrong..anyway buy and die!

Idea of the Day

It is getting harder to find things to buy as we enter stratospheric territory so it’s easy to get carried away..the easy money has been made and from here it gets harder..if you are long enjoy the ride ..if you are still looking at putting your money to work be careful …all boats do rise but not at the same pace and when the tide goes out and it will then some will be left high and dry..

Things to make me go mmmmm!

Good to see Uncle Fester talking the AUD down…all he can do…no more rate cuts..and why do they need another 9bn dollars in reserves in case of an emergency…didn’t we have a GFC .. and what did they do then..not much really..talked a lot!!as you can judge never been that impressed with our glorious RBA..

UK is looking at issuing Islamic Bonds..maybe they got auto correct or spell check wrong on that one!!

You can now join a club in Dubai and Abu Dhabi that gives you your own gold plated road to drive on…you have to have the right car and be male of course..but you can go a whole 10ks faster…not sure my 15 year old Polo would qualify!

Amazing takeover battle emerging for the cheese makers!Now the Japanese have entered the fray…reminds me of Ludovicki a few years ago

Once one of the World’s richest men …  Eike Batista, whose sprawling petroleum empire was once valued in the tens of billions, is set to file for bankruptcy tomorrow.Brazilian Nathan!

Worryingly one of the architects of the current economic answers, Eugene Fama, a renowned economist and Nobel prize winner, has suggested that unwinding the Feds balance sheet and QEIII is no biggy…no biggy..you are kidding aren’t you!!!These guys are priceless..apparently it’s a neutral event…all I can say is dream on!!!

Couple of things on the horizon…The Chinese PMI ..the Plenum..whatever that is..suspect we will all be armchair experts on Chinese Plenums in the next month or so…and the fact that the US is now locked into free money forever!

Also going to be fun watching RBA try to talk down the dollar…it all depends on the US dollar Glenn ..we are just a life raft bobbing around on a global ocean of free and floating money!

 

And finally….the best comeback line ever!!

Police work must be entertaining as well as dangerous.

Recently, a female police officer arrested Patrick LAWRENCE, a 22 year old male, who was caught fornicating with a pumpkin in the middle of the night. The next day, at the Horsham Court (Victoria, Australia), LAWRENCE was charged with lewd and lascivious behaviour,… public indecency and public intoxication.
LAWRENCE explained that as he was passing a pumpkin patch on his way home from a drinking session, he decided to stop. “You know how a pumpkin can be soft and squishy inside… well, there was no one around for miles – or at least I thought there wasn’t anyone around…” he stated.
LAWRENCE went on to say that he pulled over to the side of the road, picked out a pumpkin that he felt was appropriate to his purpose, cut a hole in it and proceeded to satisfy his pressing need. “I s’pose I was really into it, you know?” he commented with evident embarrassment.
In the process of doing the deed, LAWRENCE failed to notice an approaching police car and was unaware of his audience, until Senior Constable Brenda TAYLOR approached him.
‘It was an unusual situation, that’s for sure,’ said Senior Constable TAYLOR. ‘I walked up to LAWRENCE – and he’s just banging away at this pumpkin…’
Senior Constable TAYLOR went on to describe what happened when she approached LAWRENCE… “I said; ‘Excuse me sir, why are you having sex with a pumpkin?”
“LAWRENCE froze, and was clearly very surprised that I was there, but then he looked me straight in the eye and said, ‘A pumpkin? Shit – is it midnight already?”
The court (and the magistrate) could not contain their mirth.
The Geelong Post wrote an article describing this as ‘The best come-back line ever…

Have a great day

Clarence

XXX

 

Any financial product advice contained in this email is general financial product advice only and does not take into account any one person’s objectives, financial situation or needs. Therefore, before acting on any financial product advice in this email, you should consider, with or without the assistance of an independent adviser, the appropriateness of the advice, having regard to your objectives, financial situation and needs.