Morning sports fans,

Mixed economic numbers last night from the US eased the Dow back but the action was in the Tech and Biotech stocks as the hot air seems to be escaping faster than Arthur Sinodinos is losing Linkedin Friends!


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Another nothing speech from Obama on what will happen to RasPutin if he doesn’t withdraw from Ukraine. As if that is going to happen…I am afraid Mr Obama you can huff and puff but while Europe needs Russian energy you will never blow my house down.Of course what the west can do on sanctions so can the Ruskies… because South Korean tablets have better information security, the Russian government is switching from iPads to Samsung. That will hurt!

Looks like the IMF though is ready to chuck $15bn at Ukraine to bail them out..where do they get it from …Gold sold off again!!sub $1300 at one stage..

Yesterday in Hong Kong our ‘Man in Havana ”Glenn Stevens gave a speech that seemed to contradict the bluster form Uncle Joe about the state of the Australia…we are turning a corner as the east coast takes over from the west coast….after all Glenn should know what’s going on..chaffeur to work in his ivory tower, generous expense account and invites to all the best parties…a true man of the people..not too much mention of trying to lower the Aussie dollar though and up she went those brochures ready…when it gets to 94 lock it in Eddie!



So after the raging bull market of yesterday a bit of reality….The fact that everyman and his dog is raising money at the moment is a sign …the window will start to close soon as the market focusses on the budget and June end of year selling before picking up again as we head into spring..I remain cautious…when all these companies are asking you for money they must know something the rest of us don’t…some of the raisings have been wonderful especially if you are lucky enough to be on the preferred insto list of handouts..yesterday GEM issued stock at 4.60 and then went to 5 bucks…nice…free this weird or what? …Instos bulked at buying the Sterling Early education group for $ GEM buy it and they tip in $100m to fund it at a higher valuation…then the shares in GEM rally 10%…right…think that makes sense…not!!!

Another raising this morning… Qube Holdings is in a trading halt pending the announcement of the outcome of a planned $200 million share placement to institutional investors….no wonder IPOs are struggling to get off the ground..being crowded out by placements.

Idea of the Day

I remain in the take profits camp…so many IPOs so many placements….Easter is coming don’t be a bunny!!!

Things to make me go mmmmm!!!

Apologies to Man City fans yesterday I got the score round the wrong way!!Doh!

Amazingly Lachlan has done such a bang up job at TEN..seriously…that Dad has promoted him…the Sun King has a new Dauphine..Buy TEN ..sell NEWS!

Citibank fails the Fed test..I mean how hard can it’s like NAPLAN for gods sake..shares punished…and in more bank news Bank of America has been fined $9bn for its part in the mortgage debacle…one way to fund the Fed!

King Digital Entertainment Plc, maker of the “Candy Crush” smartphone game, suffered the biggest decline of a newly listed U.S. company in over four months even after it priced its shares at a discount to its major peers. King’s shares dropped 16 percent to end trading at $19 today.


The Nasdaq Internet index retreated 2.5 percent for a sixth day of losses and is down 11 percent since a high on March 6 amid concern that some social-media and web stocks may have been risen too far too fast….say it ain’t so!!!



Another one bites the dust!!!Mantra Group’s: $400 million IPO has collapsed in disarray. The decision came at the end of frantic attempts by the bankers to salvage what was originally slated as one of the biggest initial public offerings planned for the year. Momentum building for the group’s float, planned for April 24, ground to a halt on Wednesday afternoon, after the offer price was lowered by up to 30 per cent. The bankers also reduced the scale of an equity raise started on Tuesday to $239.1 million, down from earlier targets above $400 million


And another one gone, another bites the dusty! MySale: owner of the high-growth OzSale online retail business, has pulled its slated IPO and will look for a strategic investor to take a stake in the business. In the latest blow for the softening IPO market, MySale has opted to try and progress talks with a number of its larger offshore peers and shelved the listing plans until the business has explored growth avenues in Europe and Asia.




The spot price (not futures speculation-driven) of US Foodstuffs is the best performing asset in 2014 – up a staggering 19%…


Medibank Private: $4 billion prize now looks destined for a float in the first quarter of 2015 rather than the final three months of this year, meaning those on the golden ticket still face a delay before the cash flows.


Brickworks has recorded a slight lift in its net profit, despite higher earnings from its core building products division.The company made a net profit of $56.3 million for the six months to January 31, up from $56.08 million a year ago.


Suspect this rush to raise from everyone will suck the fun out of the bull market…even UK government will be flogging some $4bn of Lloyds Bank….


And good to see the ‘Big Bogan’ back in the news..we have missed you!!



And finally…..thanks Barry…

A man received the following text from his neighbour:
I am so sorry Bob. I’ve been riddled with guilt and I have to confess.I have been tapping your wife, day and night when you’re not around.

In fact, more than you. I can’t get it at home, but that’s no excuse
I can no longer live with the guilt and I hope you will accept my
sincerest  apology with my promise that it won’t happen again.
The man, anguished and betrayed, went into his bedroom, grabbed his gun,
and without a word, shot his wife and killed her.

A few moments later, a second text came in: Damn the auto correct. Sorry,
I  meant “wifi”, not “wife”.

Have a great Thursday





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Have a great Thursday.