What a surprise! The Greek tragedy of yesterday has not turned into contagion and another stock market collapse and that’s why I used the bullsh–t word yesterday. Don’t get me wrong, the European debt issue is a concern but it has been exaggerated. Greece was always the most vulnerable economy to an event like this […]

The Dow had its worst fall in months after debt ratings on Greece and Portugal were downgraded. This is such bullsh-t and is typical of the day-to-day market traders that exploit bad news to make money. Long-term traders should take these days as buying opportunities. Greece and Portugal are nothing economies, which have little economic […]

Talk of another correction is sneaking into commentators' columns but the bull rally continues with US earnings surprising on the high side, underlining that a disaster is coming fraternity are wrong for now. On Wall Street shares went to a 19-month high and they had put in eight weeks in a row on a rise […]

The country’s most important bean counters, sorry, chief financial officers, are surveyed by Deloitte and here were the interesting findings: Two-thirds of Australian CFOs predict a slow and stable recovery 28 per cent predict a quicker ‘V’ shaped recovery 65 per cent of CFOs are finding credit easier to access 93 per cent expect lending […]

With the Goldman Sachs story — no, drama — now spreading from Wall Street to Germany and the UK, the next local question has become — could it become an Aussie issue? And this comes as Nouriel Roubini is up to his usual tricks of spreading fear to try to make his predicted ‘disaster movie’ […]

One of my guests on SWITZER on the Sky News Business Channel last night was apologetic for being a cautious investor right now suggesting it didn’t make for interesting TV. I corrected him and it did make great TV — the lessons were a ripper as well as a must adhere to for all investors. […]

Ahead of the May Federal Budget, more economists are now thinking the month could usher in the overdue pause by the Reserve Bank with their rush to the so-called normal level of interest rates. And it therefore makes it timely to see what parts of the Aussie economy are doing well, and those which are […]

Today the market is bound to follow Wall Street’s negative lead following the charging of Goldman Sachs by Securities Exchange Commission. This could be a trigger from left-field that could cause a market correction. My guess is that there will be a sell-off but a not a correction of 10 per cent. The negatives of […]

Another great day for the bulls with Google reporting strongly on Wall Street and the Yanks getting another good economic report on manufacturing. Good bordering on great The Philadelphia Fed said its manufacturing index rose to 20.2 in April from 18.9 in March. This is just another better-than-expected economic report. This follows the Empire State […]

It’s significant that on the day that my old UNSW colleague, Steve Keen, starts his walk from Canberra to Mt Kosciuszko, wearing a T-shirt which reads — “I was hopelessly wrong on house prices. Ask me how.” — Wall Street finished up over 103 points at 11,123.11. That’s five days in a row for the […]

Last night on my program, SWITZER on Sky Business, BT’s chief economist Chris Caton said he thought the S&P/ASX 200 would get to 5250 this year and he has stuck to this number for quite some time. He also said he believed in the US recovery that can make his market index call end up […]

Is the Reserve Bank starting to crack on interest rates? Maybe we won’t we see interest rates go up four more times this year? That was my hopeful conclusion following an interesting comment from Guy Debelle, the Assistant Governor of the RBA to a parliamentary committee yesterday. And it came when new home loan figures […]