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Morning sports fans,
Some time ago I wrote that volatility will be back…..and it sure is..yesterday we saw an impressive Chinese PMI sparked rally, as the Chinese number beat expectations…no one should really believe these numbers but what the hell..anyway the banks and even the miners frolicked in the bullish blue surf only for the overseas markets to crash down on their heads this morning…the world was a soggy place overnight as the US dollar continues to climb higher, Zombieland looks stuffed and now not even US takeovers can help them (US Treasury clamping down on ‘inversion’) and positive US figures last night kicked the interest rate rise question back into the park…all up I still believe that we should see more downside to our market and the rally of yesterday was an aberration…does show how the shorts panic though…Iron and other commodities still on the nose, so only positive is the falling Aussie…
Expect to see the market fall back today as reality bites…heading back to 5350 by weeks end and October could get interesting!!!
Idea of the Day-FGX and LYC today
Some weeks ago I was pushing the joys of owning Future Generation Fund….now whilst I was away overseas these babies listed…they are trading at a slight discount to the issue price as these thing tend to do..the joy of this one is that it is cashed up and patient to deploy its lovely moolah…they have a six month time frame to put the money to work…remember they are giving it to some of Australia’s best fund managers and there are no fees….this is a LIC that will be exposure to players that you and I cannot access plus 1% of its assets are donated to kids charities…for those clients that missed out ,and those who were scaled back ,this may be a good time to look at this one…FGX is the code..there are options as well FGXO
And this morning LYC has gone into a trading halt…expecting news of the financing arrangements..fingers crossed…
Remember with volatility comes opportunity….
Things to make me go mmmmm!!!
Call me crazy but I am more worried about Ebola than terrorism at the moment…in Australia our terrorists give themselves up at a police station then get shot! Meanwhile by November there are reckoned to be 21,000 Ebola victims!!! Now I remember my maths from school and pretty soon this will get to be a very large number indeed and if I was a terrorist, forget bombs just persuade an Ebola victim to walk round NY for a day or so!!!now that’s terror!!!Hope ASIO aren’t reading this…
Seems that not only are we fighting against IS but there is another enemy out there…the extremist group called Khorasan…blimey never even heard of this one.
Must be strange for Obama to be bombing IS of behalf of the Syrian Government whom they threatened with all manner of things after using chemical weapons(still waiting for that though)..bombing IS helps Assad defeat the rebels…so maybe they need to bomb Assad just to even it up..getting very complicated..I mean Saudi Arabia is hardly a paragon of virtue to have on your side…
Here’s a great Aussie success story..Invoice2go…now valued at $100m not bad for a bloke that picked up an iPhone 6 years ago… he has come a long way …Central Coast boy too..started working on an app that made invoicing easy for small businesses…seems to have worked….Invoice2go invention is used in more than 50 countries. More than 120,000 invoices are issued through the app every day and the company processes $US10 billion in invoices each year.
New Zealand dairy giant Fonterra’s full-year earnings halved to $NZ503 million after soaring milk prices crimped margins in the group’s non commodity businesses. The world’s biggest dairy exporter had guided for normalised earnings before interest and tax of between $NZ500 million and $NZ600 million.
Since winning the Nobel peace prize in 2009,Obama has bombed 7 Muslim countries. And still can’t quite get over Tony Blair as the UN Middle East envoy! US midterm elections are coming…let’s party…
Liverpool reached the English League Cup last 16 after an extraordinary third round tie saw them beat second-tier Middlesbrough 14-13 in a penalty shoot-out on Tuesday, while Southampton knocked Arsenal out of the competition.
Looks a bit fishy.. Salmon producer Huon Aquaculture will seek to raise $125 million at an initial public offering book-build next week, in a deal valuing the company at close to $400 million.
Telstra has expanded its investment tentacles in Silicon Valley, pumping millions of dollars for a stake in electronic signatures firm DocuSign
We have had Alibaba now high fashion shoe maker Jimmy Choo has confirmed its intention to float on the London Stock Exchange.
This brilliant Rumsfeltesque saying from Tesco Chairman should be in every chairman’s armoury upon finding the skeletons… “Things are always unnoticed until they have been noticed” Der!
I reckon with everything being sold at the moment to punters the government may be a bit late to the party with Medibank…Alibaba eased 3% last night..
The Boss is 65 today…happy birthday Bruce…listen to darkness on the Edge of Town tonight when you get home…great album..
TWO IRISH WOMEN IN A BAR
Two women were sitting next to each other in a bar.
After a while, one looks at the other and says, ‘I can’t help but think, from listening to you, that you’re from Ireland .’
The other woman responds proudly, ‘Yes, I sure am!’
The first one says, ‘So am I! And whereabouts in Ireland are ya from?’
The other woman answers, ‘I’m from Dublin , I am.’
The first one responds, ‘So, am I!! And what street did you live on in Dublin ?’
The other woman says, ‘A lovely little area. It was in the west end. I lived on Warbury Street in the old central part of town.’
The first one says, ‘Faith, and it’s a small world. So did I! So did I! And what school did ya go to?’
The other woman answers, ‘Well now, I went to Holy Heart of Mary, of course..’
The first one gets really excited and says, ‘And so did I! Tell me, what year did you graduate?’The other woman answers, ‘Well, now, let’s see. I graduated in 1964.’
The first woman exclaims, ‘The Good Lord must be smiling down upon us! I can hardly believe our good luck at winding up in the same pub tonight! Can you believe it? I graduated from Holy Heart of Mary in 1964 meself!’
About this time, Michael walks into the bar, sits down, and orders a beer.
Brian, the bartender, walks over to Michael shaking his head and mutters, ‘It’s going to be a long night tonight.’
Michael asks, ‘Why do you say that, Brian?’
Brian answers, ‘The Murphy twins are pissed again’.
Have a great day