I was driving to work this morning listening to the esteemed ABC local radio. Just before I turned into my office they were discussing the stock market. Now normally I don’t have too much to consider when this topic comes up. My family has invested wisely; we expect to see a downturn one year in every seven and mostly we we are conservative investors and are not willing to risk our hard-earned money. In fact, the investments we have will probably be passed on to our children and their children…
It’s nice to have security.
As the share market boffins were in conversation, one of them commented that if the Australian share market dropped another 150 points the fall would wipe out every single gain that was made in 2007. Sobering! BUT, I hardly raised an eyebrow. Maybe this year is the downturn that our adviser has been predicting for the past 10 years.
That’s all and good for me but how does this prediction affect others? Maybe we’ll open this subject up on the ABC Business Blog. Whatever the case, here is an updated article that just arrived at my desk. For anyone trading with the ASX it should be of interest.
Australian Share Market Extends Losing Streak