Have to say either we are incredibly intelligent investors in...

Have to say either we are incredibly intelligent investors in Oz, or incredibly dumb ones.

Again we lead the market negativity stakes, with year to date bourse up 4.6% - bottom of the 8 countries highlighted in this table.

ytd		2012	2011 y/e
7.4%	US SPX 500	1,350.50	1,257.61
5.4%	US 30 DJIA	12,878.28	12,217.50
15.0%	Germany 30	6,728.19	5,848.78
6.0%	UK 100	5,899.87	5,566.77
7.9%	France 40	3,375.64	3,127.56
7.1%	Japan NI225	9,052.07	8,455.35
4.6%	ASX200	4,242.80	4,056.60
13.5%	Hang Seng 40	20,917.03	18,434.39
6.9%	Shanghai	2,351.86	2,199.42

Would have to think that our perspective of the global economy is 'glass is half empty' whereas elsewhere a 'gass is half full' trading approach seems to be the order of the day.

As for the XJO, well if it wasn't for the banks and the big miners, there wouldn't have been much if any growth in the index for many a long year.

[figures are my own calculations, based on an analysis of ASX listed companies 2004-2011]

Since 2004 - only 1 in every 2 companies from the top 500 has seen share price growth;

Since 2006 - only 1 in 4 such companies have witnessed a growth in their share price;

Since 2008 - only 3 in 5 companies have seen any share price increase;

And in 2011 - only 2 in 5 companies saw their stock price higher than where they left it 12 months previously.

Hardly an inspirational environment for long term investors or overseas parties [especially given foreign exchange].


And where next for our bourse? I guess a large part depends on Greece, which looks less and less likely to surprise to the 'upside' with each passing day.
The country which gave birth to democracy looks like it is the first to mourn its death.

Some kind of resolution and stability here, however, should see a move up for all markets, and ours especially since it is lagging so far behind all others thus far. Perhaps back above 4500...

The failure to hand over the $130billion bail out, will likely see stock markets lose their 2012 sheen and again fall out of favour [at least in the short term]. Below the 4000 level and into Martis territory...??