Australian Sharemarket, Ben Bernanke, cba, Charlie aitken, commonwealth bank, CPU, crash, diggers and dealers, ECB, essex Lion, Future Generation, Future Generation Investment Fund, Geoff Wilson, gold, Interest Rates, iron ore, Mario Draghi, marmota, stock, Whitehaven Tinkler coal bid cash
Morning sports fans,
Geopolitical risk continues to dominate at the moment as Ukraine and Gaza take centre stage..these events still have capacity to escalate further to the detriment of the world..unfortunately the West has relied on the US policeman for far too long and they seem to have taken a somewhat less costly and more distant view of things happening in a far off foreign land..this seems to be the Obama Doctrine…Golf,holidays and don’t get involved too much…
Market at a six year high yesterday as it eked out gains with TLS and the banks providing the impetus…expect a modest pullback today but everyone is in the “Buy the Dips” mode so no great risk being priced in…Interestingly one of the industry Stalwarts in funds management presented to us last night(see below) and he was pointing out that the market does not offer great value at the moment..expensive..and given the risk from world events maybe it’s not time to chase things.
Idea of the Day-New Fund of Funds Future Generation Investment Fund (LIC)
Here is a great new product that allows retail investors access to a range of the country’s top fund managers like Paradice,Bennelong and others. It’s called Future Generation Investment Fund. It has a great pedigree with Geoff Wilson the main driving force behind it..it’s a fund of funds..they take your investment and put it into a range of other funds..now it has two main attractions..most of the funds it is investing in cannot be accessed by retail investors either they are so successful they are closed or wholesale punters only and the other huge plus is the Future Generation fund has no fees..every fund manager has waived their management fee and performance fee as has the Future Generation but it gets better the fund is donating 1% of its assets eyarly to charity so a investor gets access to some great fund managers, gets a free ride and 1%goes to charity every year..mostly kids charities..so you can feel really good about this investment..They are raising between 15-200m bucks for the fund and being part of the WAM and Geoff Wilson stable will be well marketed and well run…this one looks a winner…fully franked divs to come down the track…so if you want an investment that generally outperforms, has no fees and does sick kids some good this is a winner..I am happy to send more details if interested but would highly recommend it for broad equity exposure ..no international just Aussie.SMSF special!!
Things to make me go mmmm!!
Memo to self ..do not try to juggle a carving knife..really, really dumb!!
Addicted to Newsroom…
Newcrest getting sued from investors over last years’ profit downgrade..gotta love a class action
Love the guy who paid for his ancient Chinese cup on Amex..that will do nicely..he paid $39m for a cup but got 422m award points!!!Or 28m frequent flyer points…will be a full time job just redeeming them!!!
Tonight I am giving a keynote speech to the Investor Roadshow run by Symposium at the Establishment.If anyone wants a copy of the slides let me know..that is when I have done them!
The flow of money out of China continues at a pace…it is reckoned that $10bn will find its way into Australian scheme on the back of the VISA 188 which allows rich people to effectively buy residency provided they put in money and a bind…some months ago Canada cancelled a similar scheme and so they are all headed here… 82 granted in the 12 months through June, compared with just four in the program’s first seven months.1000 people have appled so far almost all from China..banks too are getting looked into as foreign buyers continue to be the big drivers of the property market here and around the world..looks like after they have made their, sometimes ill gotten, gains the Chinese want to get their money out to somewhere safe..
Herbalife shares fell the most in three months after billionaire Bill Ackman vowed to show Enron Corp.-like fraud at the seller of supplements and weight-loss shakes. Herbalife’s stock fell 11 percent to $54.02, marking the biggest one-day decline since April 11. The shares had tumbled 31 percent this year…..there is a big webcast from Pershing Square tomorrow to justify their short call on the stock.
Today’s scary chart from the US..the length of time the unemployed remain unemployed!
The UK has opened a criminal investigation into the FX fixing scandal…so far the regulator has managed to get no convictions for market rigging so it’s time for the Serious Fraud Office to get in there…
Ringing the …Bell Potter Securities has once again taken a scythe to its resources division, laying off two analysts as the broker continues to cut costs. Must be a sign!!
It’s on… Bieber Gel is here…Australian consumers will be among the first in the world to try out new virus-killing condoms, poised to hit supermarket shelves in the coming months, after biotechnology company Starpharma received regulatory approval from the Therapeutic Goods Administration. Starpharma has teamed up with condom and glove maker Ansell to launch the antiviral condom under the LifeStyles Dual Protect brand.The technology is called Viva gel..but I prefer Bieber Gel..
Only three weeks to go before my attempt at the City to Surf…would love to raise more funds so here is the link again if you feel generous this morning…https://city2surf2014.everydayhero.com/au/henry-2
We need to send Julie Bishop and her Death stare over to Russia that will sort out RasPutin…
Have a great day
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