Yes thanks everyone for the insights.
The broker friend of mine puts most of this poor Aussie market v the U.S market (which is booming) down to one thing. The Aussie dollar. It makes Aus really expensive to invest in, a heap of cash has gone overseas(U.S) where their market is booming largely on the back of their weak currency.
Think about it, their housing market is still crap, upemployment very high, just, almost out of the woods regards recession and their stock market is hitting record highs. We have a minerals boom here high house prices, low unemployment and our market is crap.
The currency is the only answer, big money has gone overseas for bargains.
Dont know what PEK can do about this but it is a very big factor looming over Aussie stocks and especially hitting the specs.
Cheers Tretch
Ann: Ngualla Project Update , page-58
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