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Morning sports fans,
I couldn’t believe my eyes last night when the US first quarter GDP was revised down …2.9% down!!!Biggest fall since the Great Depression in 2008…of course it’s the weather to blame..doesn’t winter come every year to the US….analysts hate to be made to look stupid so they try to explain it away…all of them were so wrong….not sure things are that healthy and this is despite the Fed chucking over $3 Trillion at the economy…now of course the market took it in its stride and rose..I was expecting to wake up and the Dow down 300!!!But no …it was the snow so it doesn’t count…bit like all these companies writing off money and they say its non-cash items…so nothing to worry about at all…really?I remain very cautious and probably even more so now…Mid East problems just getting worse and pretty soon Iraq will be a new ISIS controlled province..Baghdad drinking water under threat now…they will be surrounded soon..US seems to be happy to watch it play out…300 Military advisers are going to solve something that 170,000 in 2007 couldn’t …must be a battalion of Chuck Norris’s…
Idea of the Day
I have been on about Kathmandu the other day …at least they bounced a bit..probably a bit more to come but already up from $2.85 to nearly $3.00.target $3.20 then sell again.
I was on the Telly yesterday and a viewer phoned in for my opinion on where to invest $300,000…and would/should he buy the banks..now I have a simple philosophy on the banks..’You Buy the Banks. you die with the banks’..they are a set a forget type of trade ..great yields and a protected species in this country…but he asked about other stocks and I suggested that the days of just buying stuff and holding were over..you need to be on top of things and trade them to an extent..we see wild gyrations in stocks when they announce surprises..with so many industry analysts looking at these companies how do they surprise? I suspect they don’t actually talk to the companies!
So to the $300,00…patience was my mantra…there is frequently the FOMO(fear of missing out) and that force is strong in a punter..greed is good..but sometimes and I reckon this is one of those times it pays to be patient…everyone is so ‘ho hum’ about things at the moment…and by September the Fed will be gone..Europe is still Zombieland and Japan has problems mounting (casinos are the answer it seems) and China is built on rickety foundations for sure…so remember as they said in Trading Places…”Buy Low Sell High..fear that’s the other man’s problem!”
Interestingly punters are so very keen on IPOs and tech start ups as they offer opportunities that the established companies don’t perhaps?
Things to make me go mmmmm!!!
Last night I downloaded the highlights of Suarez’ career. Didn’t take long it was only 3 megabites.
Must be in a parallel universe..US GDP and the market goes up and Clive Palmer standing next to Al Gore!!
Rupert’s girl gets a not guilty verdict.
Love this..Turkey had an export problem..not enough people buying their stuff…so the Finance minister had a brainwave..flog 200 tonnes of Gold to Iran….problem solved…massive investigation now for the former minister…will make the NOTW look like an honest business!!
Seems Telstra has some competition now as iiNet has flicked the switch on its free, public WiFi network in Adelaide and is now lobbying other city councils and state governments to complete similar rollouts in Sydney and Melbourne in a move that could threaten Telstra’s designs on building the nation’s largest WiFi network. Looks like Mobile wars are heating up as Dick Smith cements a deal with Vodafoney to sell their next generation service through the network..looking for 50% growth…not likely…
Harry Triguboff’s latest project in North Ryde is a huge winner, selling all 213 apartments before its launch today.
Aristocrat (ALL) In talks to buy VGT in the US for ~$1b..issue coming…
LLC sells its Bluewater centre in the UK…good price too…have they timed the UK property market?
First day yesterday for the new Westfields..SCG and WFD…seems they like the international one (growth) don’t like the domestic one(Low growth)…legal challenges too looming form investors unhappy with the split…think that boat sailed..
Full marks for the PR guys getting the takeover story in the press yesterday for Treasury Wine as they wrote off another huge amount of non cash items…gonna try the same with my own personal balance sheet..
Nice graphical look at the fear and greed cycle…from the gentlemen at www.zerohedge.com
Spotted from one wag…Here’s a thought…“If the complete collapse of the US economy doesn’t send the S&P to new all-time highs, nothing will.”
Stockbrokers awards tonight so likely to be a little dusty in the morning…I have always said go out with the boys come in with the men!!May be a boy tomorrow!!!
Ethel checked into a motel on her 60th birthday and she was a bit lonely.
She thought, “I’ll call one of those men you see advertised in phone books
for escorts and sensual massages.”
She looked through the phone book, found a full page ad for a guy calling himself Tender Tony, a very handsome man with assorted physical skills.
Flexing in the photo, he had all the right muscles in all the right places.
Thick wavy hair, long powerful legs, dazzling smile and six pack abs. Ethel felt quite certain she could bounce a sixpence off his well-oiled buns ….
She figured, what the heck, nobody will ever know. I’ll give him a call.
“Good evening, ma’am, how may I help you?
Oh my, he sounded sooo sexy! Afraid she would lose her nerve if she hesitated, she rushed right in.
“I hear you give a great massage. I’d like you to come to my motel room and give me one.
No, wait, I should be straight with you. I’m in town all alone and what I really want is sex. I want it hot, and I want it now. Bring implements, toys, rubber, leather, whips, everything you’ve got in your bag of tricks.
We’ll go hot and heavy all night – tie me up, cover me in chocolate syrup and whipped cream, anything and everything, I’m ready!
Now how does that sound?”
He said, “That sounds absolutely fantastic!
But you need to press ” 9 ” for an outside line.”
Have a great Thursday