Given the stellar rise of our market, this is the 'correction we...

Given the stellar rise of our market, this is the 'correction we had to have" (excuse the cliched term). The growth of our market has been (and still is) underpinned by a massive resources / commodities demand. Nothing fundamental has changed in this area.

This is nothing like the tech boom / bust which saw unrealistic stock valuations based mainly on irrational hype.

This kind of shakeout is a 'natural phenomonon' in strongly rising markets - and is, in fact, quite healthy.

Those who have not witnessed this kind of thing are apt to panic and "sell eveything", thus crystallising losses and being out of the market are unable to partake of the inevitable rebound / recovery.

The worst thing to do, imo, is to be swept along by the doomsayers (most of whom have gone short) who attempt to convince the gullible that the economic sky is falling in.

Rest assured - this is not a 1987 or a 1929 crash scenario. It is just a temporary adjustment as the Chinese and Indian growth story is fact, not fiction. The resources boom with be with us for quite a while yet (in my oinion)