why no one is buying australian stocks

I read and re-read various reasons of why our market has not performed....
In a nutshell my take is this:


Any overseas investor must see our currency as rightly priced before they would buy into our market. It appears that most overseas funds feel our currency is very overpriced. So if they were to buy our stocks there is a very real possibility they could lose up to 10% of their capital if our currency fell back to 90c level...this would have to be offset by having huge gains in the share prices to compensate...the other side of the coin is those same overseas fund managers think we are over valued, so they in fact are selling our stocks...they did not need to make any increase on their purchases, because they have made money on the appreciation of our currency, so they are selling our stocks and converting back to usd, so lack of major buying and actual major selling has made our market the laughing stock.

Once our dollar falls ,again we will see renewed buying as the stocks will be cheaper to buy once currency conversion happens..now back to my red wine...