Pretty much everybody agrees with that longer term view, and that Australia will benefit if the govt has not allowed for our heritage to be sold overeas. The issue for those who entered the market over the last 2-3 years is whether to hide or keep getting bashed on the head, and possibly overwhelmed by a tsunami if things really go bad in the next 1-3 years. So far the market has given up 2 years worth of gains, and this hurts, especially those who use borrowings. These investors do not have to worry about capital gains tax because they have lost all or most of their gains.
It is about capital preservation for us and the potential to buy back in at lower prices versus just hanging in in the hope that the business your invested in does not collapse.
