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Morning sports fans,
Another nothing night overseas as we await the Fed meeting…talk is maybe they will speed up the Taper…Interest rates to rise sooner rather than later as well perhaps…still we shall see…still feel cautious though…the growth seems to be way more anaemic than everyone has hoped for..Interest rates are set to rise at some stage and valuations are pretty ritzy..probably explains why the IPO market is hot as they look a little cheaper in comparison. Mergers and takeovers continue to add froth and bubble to the market..
The big news yesterday was the placement of Shell’s Woodside shares…shame the small retail punters didn’t get a look in…shame the company is now spending cash and tax credits on buying shares off Shell…shame the special dividends won’t be forthcoming and shame they won’t have as much money to spend on expansion plans..still apart from that …what have the Romans ever done for us eh??
So today expect a modest rise in the markets but the Shell deal coupled with all the IPOs at the moment will ensure volume remains muted and no huge money inflows..apart from waiting for FOMC …and war watching.
Things are getting worse in Iraq, Ukraine and still Gold goes nowhere…
Maybe this is the reason..you spend a fortune digging it up only to shape it into bars and bury it again…brilliant!
The Queen inspects the BOE gold vault.
Idea of the Day
After digesting the ISU meeting from a few days ago ,I remain positive on this one..They have huge opportunities going forward and the online/sales follow up distribution model seems to be a good one and well respected ..especially given their push into energy…remember the days when the door knockers would come round and try to get you to change your plan..well that is toast..can’t do it anymore so iSelect has become the digital door knocker..
The ad campaign will also be tailored more to the serious side and less eccentric..shame I liked the ads..but these guys are growing up..it’s been a tough baptism of fire going from private quirky to Public scrutiny…has been hard work but I think the new guy is on the right track..very focussed and energised…I remain a fan…
No divs for a while and they have to sort out how they provision the trail fees and also they have funded a business called NIA which runs a Health fund Health.com.au …the commission has been given back to NIA to fund it and taken as a loan..currently around $30m which again needs to be sorted but the assets and the business are growing fast..
Worth a look at around 1.10…
Things to make me go mmmmmm!!
Now I know we all complain about our health system but yesterday I walked into the local medical centre ,saw a doctor within 5 minutes ,into have an X-ray within 5 minutes and no cost..how good is that!!!Just a Medicare card and a signature…would happily have paid 7 bucks!!
Love the World Cup…’Ron Nil Do!!Classic…
Solly Lew has nearly 10% of DJS…going to be an interesting meeting as the South Africans clear the latest hurdle with shareholder approval from Woolies shareholders…
LNG has been a superstar performer..how high can it go..three, count them three US hedge funds are wading in!!
US rallied last night but then it usually does on a Tuesday.
In the US, the CPI rose 0.4% last month, the largest increase in more than a year, with food prices posting the biggest rise since August 2011, rising 0.5%.Apparently there are 40m people in Poverty in the US ,the World’s richest country…not sure QEIII is doing it for them…
It’s amazing before the GFC the debt was carried by corporates…now its carried by the governments…see the chart below…
Think Japan may one day be a problem? You betcha!!!
Japan will start debate today on a bill to legalise casinos, hoping to get it in by the end of the year and boost tourism.
Here’s a n interesting fact Nevada produces more gold than South Africa and Chile combined!!
And finally…this is a laugh out loud one today..enjoy…
Melbourne Zoo had acquired a female of a very rare species of gorilla.
Within a few weeks, the gorilla became very cantankerous and difficult to handle.
Upon examination, the Zoo veterinarian determined the problem.
The Gorilla was on heat…
To make matters worse, there were no male gorillas of the species available.
While reflecting on their problem, the Zoo management noticed Graham, a big Kiwi lad & former All Black, responsible for fixing the Zoo’s machinery.
Graham, like most Kiwis, seemed to be possessed with ample ability to satisfy a female of any species.
So the Zoo administrators thought they might have a solution.
Graham was approached with a proposition. Would he be willing to have Sex with the gorilla for $500?
Graham showed some interest, but said he would have to think the matter over carefully.
The following day, Graham announced that he would accept their offer, but only under three conditions:
‘Fust,’ he said, ‘I don’t want to have to kuss’er.’
‘Sicondly, you must niver, niver tull anyone about thus.’
The Zoo administration quickly agreed to these conditions, so they asked what his third condition was.
‘Wull,’ said Graham, ‘You gotta give me another week to come up with the $500.
Have a great Wednesday
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