I am glad to hear that buddy. In the long term our banks will be...

I am glad to hear that buddy. In the long term our banks will be OK I believe. It doesn’t matter if you are in the waiting room. The dividends will still come, and even if they are lower, it will still be better long term than money in the bank I believe. And you still have cash to average down when the time is right. No matter what happens over the next twelve months, this will pass.

Red in the US. The banks got particularly sold down. Though it did come back a fair bit at the end. DOW was down around 900 points at one stage but looks like it will finish down around 250. The US banks are down around 4-5%. So yes, should be good for BBOZ on Monday. What is more worrying for the the market is the 10yr yield on US bonds. It dropped by a whopping 25% or so to around 0.7% at time of writing, from 0.93%. That is out of keeping with the 1% drop in the DOW. Things that make you go hmmmm. I will have to ponder on that one. Gold price went meh..

I am looking around and the ASX stocks are on sale! Lots on discount compared to a few weeks ago. So many that it is actually making me dizzy trying to keep an eye on them all. NAB is 22.00 for example. 22 bucks! But how low can they go? Who knows. I am starting to smell fear out there, but panic selling hasn’t set in yet imo. Not yet. Maybe a few more weeks, maybe not. I must say a few of them are annoyingly resistant to the downdraft. TCL, TLS, COL, APA are you listening? CODB! Don’t fight the tide. Come (back) to pappa.......

On a side note, looks like the NSW government are going to sell the remainder of Westconnex. It will have to be around 9 billion. TCL will have to do a CR if they want to try to buy it. Not a great time to be asking for money. Could force its SP to drop. Or maybe everyone’s spare cash will pile into it and keep the SP high. Who knows. Don’t you just love Mrs Market!

Back to looking at stocks on sale. The volatility is huge though. That is why I am thinking timing the entry into individual stocks might be too hard, and it might just be easier to load up on the index. I could always leverage by buying STWSWA, instead of STW. Could be boring, but effective.

Have a great weekend buddy. Enjoy the outdoors if you can, because winter is coming.