Morning all,

Running very late today as have been in a TLS briefing..still like this one but fair to say nothing new..overnight we saw smaller losses overseas as good economic news brought Tapering closer…considering that everyone is bullish not sure what the next catalyst for the Santa run will be…anyway looks like the US is edging closer to sorting out its debt ceiling and in Canberra GI Joe has reached a deal with the Greens!!!to have an unlimited credit card limit…you go Joe…expect a small up day but did get yesterday wrong so what do I know…maybe lower Aussie will help as will gold price rise and the Iron Ore stocks…

Idea of the Day

AGO…still great value given the price and outlook for the rusty stuff!Yesterday’s sales deal will also help things along but $154 Aussie ore is pretty good…

Things to make me go mmmm!!!

Iron Ore continues to push higher as the Aussie dollar slips below 90 cents briefly..what’s not to like$154 in Aussie dollars

Dick Smith came on and settled at the listing price…couple more today with Veda and Lifehealth…both around lunchtime.

Santos: has taken away some of the concerns about near-term production downgrades with an upbeat assessment of onshore and offshore exploration ground with potential to supply export and domestic markets. CEO David Knox sent the company’s shares down in early trade yesterday after he told a packed Sydney investor seminar that 2013 production would be down more than 1 million barrels of oil equivalent from guidance given seven weeks ago, partly as customers that on-sell gas wait for better prices. But a fleshing out of the company’s growth opportunities had the shares in positive territory by the end of the five-hour briefing and finished the day up 11c at $14.41.

Fairfax Media: has sold off its holiday accommodation website Stayz for about $220 million, as it continues to offload some of its more profitable online assets to support its newspaper businesses.

Pinterest is currently valued at more than 3 billion dollars even though it has never earned a profit.

Twitter is a seven-year-old company that has never made a profit.  It actually lost 64.6 million dollars last quarter.  But according to the financial markets it is currently worth about 22 billion dollars.

Right now, Facebook is trading at a valuation that is equivalent to approximately 100 years of earnings, and it is currently supposedly worth about 115 billion dollars.

By the end of 2020, IDC expects there to be 212 billion products — from rice cookers to cars — connected to the Web globally. Related technology and services are forecast to generate $8.9 trillion in worldwide revenue by that time, up from $4.8 trillion last year. So expect the drumbeat of marketing for connected devices, variously called the Internet of Things or M2M (machine-to-machine) technology to only get louder.

And Hugh Hendry who is one of the perma bears has thrown in the bear towel and now thinks that in this market Bitcons could go to $1m!!!He now doesn’t care about fundamentals only if it is trending…bless!

Yesterday Charlie Aitken, who writes for far more people than me, wrote that out of the 1044 resource stocks on the market here ..only 14 pay a dividend…never has so much money been sunk into the ground for such little result except to keep a bunch of professional Perth directors in fast cars and big houses!!Maybe the current malaise is a great thing to sort out this shambles…they need to lift their game or maybe just punters should just not fund them!!

And it appears that ‘Caveat Emptor’ does not translate into Chinese very well…the CITIC massive Iron Ore project in WA has finally started shipping ore after a huge blow out in costs of $8bn and 4 years late….now loading at Port Palmer I believe…

And finally…no matter how late I know the only thing most read is the joke!!!

BOB & THE BLONDE:

Bob walked into a sports bar around 9:58 PM.

He sat down next to a blonde at the bar and stared up at the  TV.

The 10 PM news was coming on.

The news crew was covering the story of a man on the ledge of a large building preparing to  jump.

The blonde looked at Bob and said,

“Do you think he’ll jump?”

Bob said,

“You know, I bet he’ll jump.”

The blonde replied,

“Well, I bet he won’t.”

Bob placed a $20 bill on the bar and said,

“You’re on!”

Just as the blonde placed her money on the bar, the guy on the ledge did a swan dive off the building, falling to his death.

The blonde was very upset, but willingly handed her $20 to Bob

“Fair’s fair.  Here’s your money.”

Bob replied,

“I can’t take your  money.

I saw this earlier on the 5 PM news, so I knew he would jump.”

The blonde replied, “I did, too, but I didn’t think he’d do it again.”

Bob took the money.

Have a great Thursday

Clarence

XXXX

 

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.

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