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Morning Sports fans,

 

Good to see that Super Mario is on top of things in Europe…NOT…no change to policy settings as he captains the good ship Concordia…no change in the UK either but Russia imposing sanctions against the west saw nervousness return with a  vengeance…big losses across the board and the price of sleep at night security, Gold rose to $1311….

 

Now I do not often comment on domestic politics(it’s just too depressing) but as we come up to the one year anniversary of Mr Rabbitt being head honcho it is hard to feel very enthused about his leadership…nearly 3% inflation,6.4% unemployment(absolute shocker yesterday) and yet GDP is 3.2%…so at least that is ok…however the government seems to have lost its way..they are struggling to explain even simple policy ideas like Metadata…really George Brandis..is that the best we can do…and Erica Bets latest comments are a great sign too…at least the gelded Turnbull still speaks some sense when he is allowed off the leash…not often though….shame Peta shame..

 

Our market will stumble again today but not as bad as futures would suggest ..expect 20 odd down..slipping below the psychological 5500 level..expecting it to test 5450 next week…results season should be interesting..not sure the real world is doing as well as the ivory tower analysts believe…it’s a tough world out there at the moment..

 

Idea of the Day-Future Generation Fund

 

We have had a great response to the Future generation Fund…this looks like it will be very well supported by the market..I mean who is going to trash a fund set up to give its fees to charity!!!Hard to see it trading at much of a discount…If you are interested in a long term investment for your SMSF or similar vehicle then this really worth looking at …I would strongly urge you to read the prospectus..here’s the link to the fact sheet….and the prospectus is available here

 

To recap.

 

  • Access to some of Australia’s best fund managers (not easy for anyone else, most are closed or just wholesale money )
  • No Performance fee
  • No Management fee
  • 1% of the assets every year donated to Children’s charities
  • Backed by one of the most respected LIC fund managers in the country, Geoff Wilson. Reputation is on the line.
  • Wilson Asset Management have a great track record of communicating to shareholders and keeping a premium in their share price over NTA
  • They will have a lot of cash to invest in a market that is pulling back.
  • Similar vehicle in the UK has been very successful. For beating cancer.

 

If you are looking for long term superior returns, fully franked dividends and a feel good feeling when you invest ..this is for you.

 

We have a priority allocation so let me know if you want me to add your name to the list.

Things to make me go mmmmmm!!!

Horrible headline number on unemployment yesterday…funnily the shocker was buried on page 12 of Rupert’s daily rag today..if this had been labour’s number it would have been front page…or am I just being cynical….anyone some analysts are blaming the ABS for changing the way they are calculating the rate..seems they are actually counting people without a job…unheard of…

 

Another bent NSW pollie…why aren’t some of these people in jail..need to set an example..I mean Eddie walking free still..come on…hardly a good look …

 

Ripper result from RIO last night $5.1bn and hints that it is about to reward shareholders at the final with a bonanza…it’s all about volumes…let’s face it when three companies control 80% of the Iron Ore supply to the world, the iron ore price is exactly what they want it to be…not too hot..not too cold…just enough to get rid of the marginal suppliers but not enough to cause panic…, Rio reported a 21 per cent boost in first-half under­lying profit to $US5.1 billion ($5.5bn), beating expectations of about $US4.7bn as it brought on expansions, reduced capital spending and cut costs…the best thing that happened to these guys is the resource turn down…costs were just rollercoasting out of control..different matter now…

 

A worrying development as Canada announces that it is sending some military equipment to Ukraine…I mean did we really think that RasPutin would take sanctions lying down…will hurt Aussie farmers who don’t need another kick in the gut..they have a enough problems at the moment with feed prices through the roof and continuing drought…we export $900m worth of food stuffs to Russia every year!!!

 

US considering air strikes on Northern Iraq…just love the sound of drones in the morning..it smells of victory…thanks Francis Ford…

 

Number of the  day….-0.2% The contraction in Italian GDP, plunging the country into a triple-dip recession.

 

More numbers… US stocks fell, sending the Dow Jones Industrial Average to the lowest level since April.The Standard & Poor’s 500 Index fell 0.6 per cent to 1,909.57, closing below its average price for the past 100 days for the first time since April. The Dow dropped 75.07 points, or 0.5 per cent, to 16,368.27, close to its 200-day moving average.the Fear index or VIX closed at 16.66…did trade well below 12 for a long time as complacency ruled…not any more..good jobs numbers though in the US will hasten the Fed to raise rates!!!Good news is bad whilst here the jobs number may trigger RBA to cut rates…if it only wasn’t for those pesky house prices and inflation…still no carbon tax should take care of that…

 

Cannot believe that a Russian Oligarch will suffer from the embargo of foreign foods..let’s face it they all live in London anyway..bet they will feel the heat!@!

 

The legacy of the Greek Olympics…

_76804358_athens8_getty

 

 

This is the pool where Michael Phelps won Gold….

 

New Dr Who premieres..I am excited.. quote from Malcolm Tucker to get you in the Capaldi mood

 

“I went to Spain. Mallorca. Went golfing with Stephen Hawking; he lied about his handicap. Didn’t need a golf cart though, I just sat in his lap.”

 

BHP Billiton is considering closing its troubled nickel business, Nickel West, following lacklustre bidding for the asset from a host of international heavy­weights.

 

Want one of these… Martin Aircraft: a New Zealand company with plans to launch the world’s first commercial jetpack in 2016, has now raised more than half the $4.6 million it has been seeking in a pre-IPO capital…

jet pack

Health and safety guys are gonna love this!!!!!!

 

Big article on Woolies in the press today focusing on their Masters business..not looking good….looks stuffed for a while..meanwhile WES goes from strength to strength..their Achilles heel is booze…WOW is hardware…probably easier to get booze right..prefer WES in this environment…

 

And finally….

 

I came out of the chip shop with a meat/potato pie, large chips, coke & a jumbo sausage.

A poor homeless man, sitting there, said, “I’ve not eaten for two days.”

I told him, “I wish, I had your will power!”

 

 

A big thank you to all my friends clients and just everyone for supporting my City to Surf run on Sunday…raised around $1000 for starlight Foundation so it’s going to a great cause….I have honed my training schedule to perfection with my beautiful wife’s birthday party tomorrow!!!Best preparation I find is a long day of entertaining and drinking red wine..should be right as rain Sunday morning….hoping to beat last year’s time or throw up trying…here’s the link for last minute generosity…https://city2surf2014.everydayhero.com/au/henry-2

 

Have a great weekend..on Sky Biz at 5.30 too ….

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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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