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Morning sports fans,
Fair is foul and foul is fair again as Zombieland gears up to do something…really are we going through this again…seems it wasn’t that long ago that the Japanese were pumping in more yen than they knew what to do with and now China has joined the prop it up party with a rate cut…things must be bad out there in the real world..it does seem like the only places where this massive money printing and zero rates have worked is in the US and the UK…despite 6 years of stimulus in the Zombie zone nothing..nada..nix..and Japan has been at it for decades..China is no stranger either..anyway despite the Japanese intervention our market fell from 5600 back to under 5300…so we have more problems here than we are giving ourselves credit for!!The Mid Year economic statement will show the true extent of the horror!!!
Anyway today is all about Medibank let’s face it..the much hyped, long awaited Government Xmas present is upon us and all the stags will be rubbing their hands together in glee as they gather round their screens at 12.00…it is sure to be a ‘success’ for all concerned…demand has been huge ..scale backs a plenty…will be interesting to see..I suspect that there are a number of slippery finger funds that have sold the ASX200 down as a hedge against their holdings TBA in Medibank..as they unwind the Medibank they will buy back their ASX leaders…have a feeling that’s why the bounce was so huge yesterday…the moves in the Iron Ore price hardly justified 10% moves in FMG for goodness sake!!!Anyway we seem to have underperformed the world as this float has sucked out liquidity and forced funds into hedges..after all that is what a hedge fund is supposed to do …have a long/short position that minimises the market risk…
Idea of the Day
You know what..if you can get 240 for Medibank I reckon it’s a great deal…20% profit…take the money!! Could be completely wrong in a months time but we will see..
Things to make me go mmmmmmm!!!
Seems the 30% fall in the shares of Cardno may drag out some predators for the stock…..seems advisers have been appointed just in case though…
Uranium miner Paladin Energy is to raise $205 million to address debt issues and in the process has further strengthened its ties with China. The Africa-focused miner, whose shares last traded at 38c, yesterday revealed a list of measures to recapitalise the company, including a placement to a unit of Chinese private equity firm Hopu Investments.
Looks like Godfreys will soon be on the ASX boards in December with a market cap of $110m …really…seems a lot for a shop that sells hoovers…anyway we need at least one shop that does this as retail abhors a vacuum.
A $250-million development in the city centre all but sold out on the same day it went on sale in Sydney and two cities in Asia.Of the 220 off-the-plan apartments in the Sydney by Crown development at 161 Clarence Street, the developer said “95 per cent” sold within four hours on Saturday.
Maybe these are connected….Foreign exchange services group OzForex has lifted its first half net profit by 26 per cent to $11.98 million.The result was built on growth in client and transaction numbers.The interim dividend was 3.5 cents, fully franked.
Lots of predictions in the press today about the bonanza of tech gifts this Xmas…let’s hope so ..retail could do with a push..suspect the MYEFO will put paid to that though..not expecting retailers to have a good Xmas at all..maybe good sales after though!!
In economic data a gauge of German business confidence unexpectedly rose for the first time in seven months. The German IFO business climate index improved to 104.7 in November.
Meanwhile in the US they have surely gone mad…a poor black kid is shot dead by cops for carrying a fake gun …yet in some states people openly walk around with semi-automatics in full view…Texas I am looking at you!!
US Defence secretary has resigned…Chuck Hagel gone…maybe he will be needed in Ferguson as the US Grand Jury appears to have reached a decision on whether to prosecute the cop who shot the unarmed black teen ….could be a big night in Fergustan..
Good to see the French say one thing and do another…speak tough in sanctions but happy to complete the second Russian warship they are building on time and on budget!!
Seems that the Fed and Bill Dudley in particular is having a tough time in front of a Senate Committee justifying the Feds east stance on regulations and its treatment of Goldman Sucks…these guys will be seriously in the spotlight going forward..
It’s Thanksgiving this week in the US..don’t be a Turkey…Obama looking more and more like one though…or a lame duck ..
And finally…cos I know you love this section!!!
A few years ago robbers entered a bank in a small town.
One of them shouted: “Don’t move! The money belongs to the bank. Your lives belong to you.
Immediately all the people in the bank laid on the floor quietly and without panic.
This is an example of how the correct wording of a sentence can make everyone change their view of the world.
One woman lay on the floor in a provocative manner.
The robber approached her saying, “Ma’am, this is a robbery not a rape. Please behave accordingly.”
This is an example of how to behave professionally, and focus on the goal.
While running from the bank the youngest robber (who had a college degree) said to the oldest robber (who had barely finished elementary school): “Hey, maybe we should count how much we stole?”
The older man replied: “Don’t be stupid. It’s a lot of money, so let’s wait for the news on TV to find out how much money was taken from the bank.”
This is an example of how life experience is more important than a degree
After the robbery, the manager of the bank said to his accountant:
“Let’s call the cops and tell them how much has been stolen.”
“Wait”, said the Accountant, “before we do that, let’s add the $800,000 we took for ourselves a few months ago and just say that it was stolen as part of today’s robbery.”
This is an example of taking advantage of an opportunity.
The following day it was reported in the news that the bank was robbed of $ 3 million.
The robbers counted the money, but they found only $1 million so they started to grumble.
“We risked our lives for $1 million, while the bank’s management robbed two million dollars without blinking? Maybe it’s better to learn how to work the system, instead of being a simple robber.”
This is an example of how knowledge can be more useful than power.
Moral: Give a person a gun, and he can rob a bank. Give a person a bank, and he can rob everyone.
Am on Sky at 12.00 talking all things Medibank..remember peeps it is an insurance company not a healthcare provider!
Have a good day