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Morning sports fans,

Another fabulous weekend of football and a insipid lead from the overseas markets to kick off our Monday.Few things to look at today …the ‘Secret’ Solly plans for DJs and we have flash manufacturing data from China later this morning.

rinaldo

 

Iron ore was up but last weeks on again off again bullishness will continue as we tread water…I remain convinced we are stuck in a rut with some downside potential…Its summer time in Northern Hemisphere…Wimbledon and Tour d’France coupled with the football will ensure some late nights early mornings for a while to come…so no reason to get too excited about the market…

The IPO frenzy continues,anecdotally punters are now bidding for issues blind as the fear of missing out is palpable.Not sure that is a healthy sign but for the time being no one will rock the boat until we head into the Fed’s exit in September…October could be interesting!!

Expect another quiet day with a positive bias after Friday’s rout,following on Thursday’s huge surge..bit Duke of Yorkie for me..it’s a traders market..buy and hold left the building a while ago..

Up 10 today back to 5400…

Idea of the Day-Childcare costs soar-Buy AFJ

Now you know I have been a big fan as has our analyst on GEM although am happy to be neutral on them having had such a huge run but Johnny com lately Affinity Education are trading at a significant discount to the leaders…why?Cos they are new and untested and have to prove they can run the business..but isn’t it worth the risk when costs are up to $170 a day!!

funny-children-safety-sign-s-6709

 

Things to make me go mmmm!!!

Seems the Chinese have embraced the IPO bug with the average 43% gain in IPOs on listing proving irresistible….they have then gone on to be up 85%!!!Forget property… get me set!!

Talk in the papers about TEN being a takeover target..seriously? You would have rocks in your head I reckon..

Talking of media,I remember the days when Fairfax used to have news in their papers..I think the clue was in the title..Newspapers…now it is all high profile commentary..anyone else noticed this…not a skerrick about the ongoing disaster in the Middle East…still an article from Amanda Vanstone..much better…much cheaper than real journalists and overseas correspondents…

Telecommunications carrier M2 Group may acquire Australia’s fourth-biggest electricity and gas retailer Lumo Energy to boost its customer base and product range in a deal that could be worth nearly $300 million.

General Electric overcame the last hurdle for the $17 billion purchase of Alstom’s energy assets as shareholder Bouygues SA (EN) agreed to sell a stake to France, enabling the U.S. company to seal its biggest acquisition ever.

Now I know the property market is red hot but not everywhere..house up the street from us had yet another open day on Saturday and no one came…new agent and still no one came…lots for sale too…sellers seem to be flooding the market..and even a commercial building sold for $500,000 less than they wanted 6 months ago!!!Not all property it seems is gold…still in Fairfax’s interest to keep pumping the stories up as advertising drives their market..

Not sure the US strategy is working in Iraq as more cities are overrun and the Iraqi army melts away..there is even a hashtag now from ISIS #bringbackourhumvees…Obama has countered with #wewantourblackhawksback…this looks like the first civil war waged on social media too…

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Caught up with a bunch of very smart ex MaBank colleagues on Friday for lunch…was waxing lyrically about the wonderful disruptive lunches we have been holding…its inspiring..makes you want to go and run out and create a start up…even more so when a young girl of 22 has stared a company raised $5m for a 25% stake and is taking on the world..not sure they teach that initiative at school…great stuff..exciting sector…lunches a huge success…massive turnout..

Was reading on the weekend how Childcare now can cost $170 a day…now equipped with a humble calculator that works out at 850 bucks a week..are you mad!!!$40,000 a year to send you child to childcare…the fees at Shore are cheaper!!!How does a family with two kids even contemplate it..that would be $80,000 post tax ..now I know the government chips in but only up to 7500…leaves a big hole..no wonder the consumer isn’t spending!!!!Still makes GEM and Affinity attractive…

And finally….

 

At breakfast, the husband says to his wife, “What would you do if I won the Lotto?”

“I’d take my half and leave you”, she says.

“Great”, he says.  “Here’s $6.  I won $12 yesterday!

Stay in touch.”

 

Have a great Monday

 

Clarence

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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.

Get a Global take on things at www.ntmarkets.com

Get a Global take on things at http://www.ntmarkets.com

 

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