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Idea of the Day: The Banks

BANKS It has been a torrid few days for the banks with ANZ cutting its franking from 100% to 70% and WBC cutting its dividend from 94c to 80c and raising $2.0 billion in an institutional share placement at 2532c with a share purchase plan to come. WBC has dropped 6.6% since the ANZ results…

Retirement Today: Non Existence

The question of existence has fascinated students of philosophy for centuries.  In the fifteenth century Rene Descartes produced the famous philosophical conclusion “cogito ergo sum”.  Or in English “I think therefore I am”.  My wife has been thinking a lot of late, particularly about the Tax Office web site.  She’s been talking to them too,…

Why The Big Funds Underperform

The press are carrying articles today talking about the performance of the biggest Super Funds. Here are the biggest 20 funds by size showing the size, number of Members, average balance and growth in member numbers or otherwise. I know there is this generally accepted view that fund managers always underperform and if you look…

Listed Investment Companies

Listed Investment Companies, known as LICs, are effectively a managed fund with the main difference being that they are traded on the ASX like a share instead of being unlisted and traded through the fund manager’s administration system. So for one trade, on the ASX, through an LIC, you can buy a portfolio of shares…

ASX: The Anatomy of Shorting

WHAT IS SHORTING  Each week ASIC publishes a list of stocks that have been “Sold short”. In basic terms it means stocks that have been sold by people who don’t own them. It is not that easy to genuinely short a stock. You can do something similar through CFD accounts, but I wouldn’t deal with…