Wow, this has been an amazing ride up so far. The Australian market is at 4200 for both ASX All Ordinaries and ASX 200. I remember last time I wrote this heading the market charts were on the slide down and there was a brief touch during the US presidential elections. Well, it’s encouraging to see it back to this important level. Hope it stays that way in the coming months.
Entrecard, a blogging community and a network with innovative advertising concept, has been sold by its founder Graham Langdon to Los Angeles based ZipRunner Inc.
In an interesting article, available at Vanguard’s site, Jackson’s personal investment commentator James Stewart writes about the state of recently deceased pop celebrity. Although he earned hundreds of millions throughout his career and made good business decisions, earning assets now worth billions, his financial position at the time of his death was $500 millions in debt. This situation even made him rehearse going back to work in order to repay some of that debt. Interesting read.
Nouriel Roubini, the New York University economist who accurately forecast the bursting of the housing bubble and the resulting economic contraction, has become famous for his pessimism—he has been the gloomiest of the doomsayers. Which is what makes his current outlook surprising: Roubini believes that the Obama administration’s policy makers—and especially the much-maligned Tim Geithner—have gotten a lot right. Pitfalls may still abound, but he is now projecting an end to the recession, and he sees growth ahead.
This, to me, definitely marks the end (R.I.P.) of the global financial crisis. Hopefully, we will not see anything like this during our lifetime again. This was my first experience in the markets (started in Australia in January 2009) and it has not been a pleasant one. Hopefully it gets better from now on.
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