Hi Audas,
I have followed this thread. I found you have rejected few calls to tell us your investment positions?
Why?
Let me have a guess?
1. You are well educated - might have a Master or Doctor degrees in economy/finance related area. Probably very tanented in what you are taught.
2. You have missed the ride in the past years in either share market or property market because of your "fear" theory.
3. By accident, you found this forum and wanted to have your influence ---- unfortunately, your voice will be dead soon.
4. You realy lack practical experience -- you read everything possibel but not put into practice. If I were an employer, i would not like to employ you because you are too addicted to what you were taught and refused to see from street view.
Yeah nice - Yes I do have many degrees across multiple fields, my masters is not in finance, although one of my undergraduates was in economics (not commerce).
Family run portfolio extends to 15 acres of approved subdivision property in Australia's première coastal resort, 30 house / apartment urban development in central capital city, pubs, residential property.
Self educated in IT (in between degrees and work have learnt a dozen programming languages, including Chinese) running businesses developing software delivering applications to global pharmaceuticals and marketing companies from schering-plough to Wundermans).
I have been concentrating my work In the UK for the last 4 years where I have gained a much clearer understanding of International implications of market activities on domestic economies - hence my genuine concern for Australians inability to comprehend the intrinsic nature of global markets as an influential factor at home.
I genuinely have no interest in DOOMING people out - I am simply pointing out that external markets hav serious ramifications for Australia, that this downturn is like nothing we ahve ever seen, that there are considerations beyond domestic demand and supply. Pretty basic, honest stuff.
I have absolutely NO DOUBT that those attacking me on thsi forum are doing so as they see negativity as bad for business, as their remarks have almost nothing to do with any consideration for global markets.
The IMF has just issued a devastating body blow to world markets, placing a $6 trillion dollar write down on underlying assets - The Rudd government has gone into over drive pronouncing recession and further stimulus required. The UK has announced a 50% tax bracket. HSBC has announced a second rights issue. The IMF has stated clearly that Eastern European and emerging market pose a considerable threat - these economies were clawing their way out of poverty through western debt - this is going to have to be basically written off -
You will see more US banks closing when the Stress tests are announced (or bailouts extended - some for a third time).
Rudd made it clear, Australian revenues would be down to their lowest levels since the second world war.
But YAAAAAAH the Australian real estate institute said Sydney is going to have a bounce back....two years from now, no chance there could be further falls before then is there.....
Look I don't want to get sarcastic, I don't want anyone losing money or being scared out of the market - my point is that we are heading into further disarray, the economy has no where near finished imploding so just be careful. Don't take this personally, its just the truth.
If you wanted some serious doom and gloom wait till I tell you about the derivatives market, ($563 trillion) or the commercial real estate collapse.....now that is doomy gloomy. But no need to get into this for 6 months - hard enough convincing you people there is global contraction going on.
Negotiated Coal prices were reduced by %60 - you can rack ships up from here to Beijing, its the price that matters.
