Wayward
Please set me straight - is the ASX200 going to get back to around 4400 or lower? What says you?
On my understanding of fundamentals I can not see why our sharemarket should be around 5200, except as a result of a yield chasing exercise by overseas and domestic investors. We should not forget that since the market peaked in November 2007 several large companies have been lost from our market (eg Fosters) that in combination elevated the index, and what is now left is a rump based on a very lopsided economy heavily dependent on commodity prices. Ultimately the banks are now just a leveraged play on real estate which in turn is leveraged to trade flows and the inflow of population which is not doing much real economic activity (I do not count retail and govnut jobs as being of much benefit nationally).
loki
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WaywardPlease set me straight - is the ASX200 going to get back...
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