Another record close in the US will propel us higher. Money is pouring into US mutual funds at the fastest pace in 13 years! Greed is taking over. No one wants to miss out. Here there is still some scepticism about the sharemarket as the volumes have been very weak considering .seems that housing is the place everyone wants to be..I know I am a broker but why wouldn’t you borrow money to buy a liquid asset that you can hedge, sell easily and cheaply, gives you a great yield and capital appreciation and you don’t have to worry about tenants and trashing the joint…its shares peeps..good old fashioned shares..anyway at some stage punters will be dragged screaming and kicking back in to the market and see the attractions…maybe I am preaching to the converted …
Good night on the SPI and the Aussie dollar is looking wobbly after the RBS jawboning success of the last week..looks like we may get sub 90 cents in eth next week or so..will be a help to the Iron Ore guys where the underlying is holding remarkably firm…still like the Iron Ore plays..BHP and AGO my faves…suspect we will push through 5350 today but big funds are still transfixed by the avalanche of IPOs that are coming on before Xmas…
Idea of the Day
Saw lots of companies last week…saw one called On The House..OTH…interesting play..they have developed real time data bases of property transactions primarily through their provision of back office systems for the agents..they are now looking to leverage that information to property buyers arming them with better real time data..looks to me like a no brainer for REA to buy them and fold them in top their operation..stock has run a bit but for those with a tech bent may be worth a look..speculative but easy to see the end game in this one..
Things to make me go mmmm!
Seems the honeymoon is well and truly over for the new Abbott Government..actually I do not even remember any honeymoon at all…just the sounds of silence…worked for a while but looks like he is having some troubles now he has to communicate and decide stuff…rather than just which lyrca to wear for his bike ride..bring on Malcolm!!
Still trying to get my head around the whole Bitcon thing…its money Jim but not as we know it! Only 21m Bitcons in existence…Gold 2.0 perhaps?
Thanksgiving Thursday..don’t be a turkey!
Happy belated 50th to Dr Who..loved the episode last night..
Interesting that mega bear Hugh Hendry a noted Scottish contrarian has thrown in the towel and has got bullish..everyone else is making money and he has been stuck in the slow lane …so he is now a bull..can’t fight them forever Hugh! See more here.
Well done the Irish for nearly ruining the All Blacks perfect season…
Mesoblast: Co. says at least 4 programs in phase 3 trials in 2014.
BIS Industries: is expected to list on the ASX next month. Sources close to the company saying the shares will be priced in a range of between 10.9 and 13 times net profit before amortisation. Powertrans had supplied the dual-powered road trains used in BIS Industries’ off-road load and haul service offering, the company said.
Congratulations to Australian cricket team for their performance..gonna be a long summer for this little POM!!!
And finally…..I know this is the only thing most people read…
“As good as this bar is,” said the Scotsman, “I still prefer the pubs back home.
In Glasgow, there’s a wee place called McTavish’s.
The landlord goes out of his way for the locals.
When you buy four drinks, he’ll buy the fifth drink.”
“Well, Angus,” said the Englishman, “At my local in London ,
the Red Lion, the barman will buy you your third drink after you buy the first two.”
“Ahhh, dat’s nothin’,” said Paddy Sheehan, the Irishman. “Back home in me
favorite pub in Galway, the moment you set foot in the place, they’ll buy you a drink,
then another, all the drinks you like, actually.
Then, when you’ve had enough drinks,
they’ll take you upstairs and see dat you get laid, all on the house!”
The Englishman and Scotsman were suspicious of the claims.
“Did this actually happen to you?”
“Not meself, personally, no,” admitted the Irishman,
“but it did happen to me sister quite a few times.”
Have a great day today…
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.