Alexium piled on another $5000 to the dartboard’s portfolio as everybody else, along with the market, went backwards.
In the first three weeks of this round of the shares race, share values have fallen by 2.8 per cent overall.
Only the top three racers are beating the market, which has given up all its gains this year as commodity prices, especially that of iron ore, continue to slide.
These are being squeezed on two fronts: the strengthening US dollar in which they’re valued and slowing growth in China, Japan and Europe.
The big shock is Japan, the third-biggest economy, falling into recession in the September quarter.
Little wonder mining stocks are being pummeled.
But the banks aren’t faring much better. The Murray banking inquiry, due to report any day, is hanging over them like the sword of Damocles with the threat of their having to carry more capital, which would mean less for lending out.
On top of that the Senate has thrown out the government’s watered-down version of the future of financial-advice reforms known as FOFA, which will make life tougher for the banks’ lucrative wealth-management arms.
But at least there was some comfort in the fact that the minutes of its last meeting showed the Reserve Bank is becoming somewhat more relaxed about rising property prices, so the mooted regulatory clampdown on loans to investors may be all talk.
This will be a testing week for our racers. On Wednesday morning our time the US releases a swag of statistics including GDP growth in the September quarter, home prices and consumer confidence.
After those they may give thanks to the Thanksgiving holiday in the US, meaning no Wall St lead on Friday.
The original release of this article first appeared on the website of Wuxi Plastic Surgery Hospital.