Thanks a lot HLL for your summary, always very much appreciated! Hopefully there won't be much of carnage on ASX today.
On a side note, just read an article on SMH about SMSFs: Self-managed super all the rage (but make sure it's for you) http://www.smh.com.au/money/planning/selfmanaged-super-all-the-rage-but-make-sure-its-for-you-20121023-282fb.html
Was surprised by this line at the end of the article:
From a cost point of view, people with small balances (under $200,000) might find a self-managed fund hard to justify.
I can't believe the media still tells all this lies about running costs of SMSF and that it doesn't make sense to have one with balance below 200k. eSuperfund is around for years, has only $700 early fee, provides most of the investment options, and yet no one mentions them.
I had a meeting with "investment adviser" 2 years back and he was surprised to find out about esuperfund, as he tried to convince me that running costs are around 5k a year. Unbelievable that people who supposed to know everything about it are still in the dark.
