Morning sports fans,

Bit sad when you walk into a meeting with a company thinking it was going to be about nuclear enrichment and instead it’s about Beds and Kitchens!!!Bit late to back out as you realise you are in the wrong meeting…still I know a lot more about beds now so it’s not all bad!!!Nothing about enrichment though!!!

 

draft_lens15853831_1290818765funny-kitchen-gadgets

 

So with an hour gone, better late than never I guess…No US last night…it’s the end of Summer officially over there so the big boys head back to Wall Street and the serious work begins…big question how is the market going to feel once Janet has left the building..ok I know rates will be low forever but the free money will start to dry up…does appear though the US is the one bright spot in the global economy …Japan struggling,China continues to wallow and Zombie is looking worse and worse as sanctions bite…maybe its part of Obama’s cunning plan(that and improve his five wood) to bankrupt Europe with sanction against the Russian to allow the US businesses to flourish and pick over the remnants..the US has form in this after all, late to two world wars!!!

 

Expect a wishy washy sort of day as we await the RBA this afternoon who will continue to sit on their hands..and will for some time to come..nothing to see here so move along…the big macro event is going to be the ECB meeting on Thursday when we get to see Supermario’s fiendish plan…good luck with that…Anyway as reporting season is now officially over, the big themes of cost cutting and increased dividends is great for short termism…not much new investment going on but then why would you bother against a poisoned political backdrop in Canberra or a brown envelope developer climate in NSW…won’t be long before every Pollie in NSW will have been to ICAC…still Eddie not in Jail or been charged though…

 

Idea of the Day (AFJ) Baby GEM!!!

 

I have long been a fan of Affinity Group …think of them as the baby GEM…this one has been stellar…GEM have just killed it in the childcare market and AFJ are using the same business model..they are a little way behind them in terms of numbers and share price but they are heading in the right direction…105 centres as opposed to GEM which has 349 in Australia and 18 in Singapore…I am happy to recommend AFJ as a buy going forward…prefer to buy in low 120’s but might be wise to get some on board…

 

For all those that applied for the Future Generation Fund,there was such overwhelming demand that we got scaled back…for those waiting for the stock to come on 15th September…they still have an old code for the time being but the name will change on listing and the code is FGX

 

 

Things to make me go mmmmmm

 

30 years ago today the Milperra Bikie massacre…

 

Macquarie Group’s banking and financial services team is the frontrunner to acquire ING Direct’s non-branded mortgage book.Seems to be the only area of growth in banking..that and compliance…

 

Wilson HTM and Shaw Stockbroking have canned their potential merger plans. Wilson yesterday revealed that “despite positive and cordial discussions with Shaw … the parties have resolved not to pursue further dialogue in relation to a proposed transaction”

 

I have a question…..why does the Ukrainian defence minister issue update through his facebook page!!!! ………“The country’s military will take on Russia’s “full-scale invasion,” Defense Minister Valeriy Geletey said on Facebook today, a shift away from the government’s earlier communication that focused on an offensive against insurgents.

 

From my mates at www.zerohedge.com….Singapore’s Sentosa Cove (the man-made island resort billed as Asia’s Monte Carlo) is eerily silent as the billionaires seem to be staying away with prices down over 20-30% in the past year. New mortgage business is down over 40% as “the rential can’t even cover the mortgage anymore.” As one analyst notes, “the tables have turned,” adding rather ominously that, “The way prices have fallen, it’s as if there is a global financial crisis.”

 

And finally…just a couple of quickies….

 

After both suffering from depression for a while, me and the wife were going to commit suicide yesterday. But strangely enough….once she killed herself I started to feel a lot better. So I thought…Sod it….soldier on.

 

I woke up last night to find the ghost of Gloria Gaynor standing at the foot of my bed.

 

At first I was afraid……..then I was petrified.

 

gayneo

 

Clarence

 

XXXXX

 

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