The concept for this article has been unashamedly stolen from Warren Buffet although it has been given an an Australian flavour. He expounded the US version in a speech in 1984 commemorating the fiftieth anniversary of the book Security Analysis by Benjamin Graham and David Dodd, the bible of value investing. He called his speech “The Superinvestors of Graham-and-Doddsville”. Its about successful investors and I’m calling it “The Flipping Orangutans”. Let me explain.
The NASDAQ and S&P 500 finished 0.03% and 0.38% higher, extending their winning streak to five sessions. US Inflation data reassured the markets the Fed would start cutting rates next month. The Dow advanced 243 points (+0.61%). Up 303 points at best. Down 28 points at worst. Small firms Russell 2000 eased 0.52%, and the VIX dropped 12.53% as sentiment improved. Treasury yields were mixed.
ASX 200 gave up its gains to be up only 15 points to 7866 (0.2%) after being skewered by jobs data and iron ore prices in Singapore. Economic data showed the jobs market was still tight despite the headline number rising to 4.2%. Iron ore slid again in Singapore on Chinese steel news, BHP fell 1.0% and RIO was off 3.6%, including its dividend. FMG down another 2.9% with MIN falling 3.0%.
ASX 200 gave up most of its gains to be up only a modest 15 points to 7866 (+0.2%) after being skewered by jobs data and iron ore prices in Singapore. Economic data showed the jobs market was still tight despite the headline number rising to 4.2%. Iron ore slid again in Singapore on Chinese…
The NASDAQ and S&P 500 finished 0.03% and 0.38% higher, extending their winning streak to five sessions. US Inflation data reassured the markets the Fed would start cutting rates next month. The Dow advanced 243 points (+0.61%). Up 303 points at best. Down 28 points at worst. Small firms Russell 2000 eased 0.52%, and the VIX…
The rally continues.
Sold 2% weighting in APM yesterday.
Adding AD8 if the price is right.
BHP – Winter is Coming!
CBA – Too Exxy?
ASX 200 rose another 24 points to 7851 (+0.3%) as iron stocks fell hard on Asian price falls. BHP, RIO and FMG dragging the index back from 7910 high. BHP down 2.8% and FMG crashing 4.6%.
Wall Street closed higher overnight, hitting a two-week high after soft PPI data reinforced bets of rate cuts in September. The S&P 500 climbed 1.68%, clocking its biggest four-day rally this year, led by tech stocks. Starbucks was the top-performing stock in the index, rallying 24.5% after appointing Chipotle head Brian Niccol as chairman and CEO. The Dow Jones ended near session highs, finishing 409 points higher (+1.04%). Up 436 points at best.
Every results season, for the whole month of February and again in August, it is the job of broker analysts to analyse the stocks that announce results, and it is purgatory. Poor brokers. Here’s why.
Lots of results including the CBA’s which are a bit better than expected. Still in cash wondering where that sell off went.
