Disclaimer

Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. But I can't by law give you advice, and I do make mistakes. Remember: the unexpected sometimes happens. Oddly enough, the expected does too, but all too often it takes longer than you thought it would, or on the other hand happens more quickly than you expected. The Goddess of Markets punishes (eventually) greed, folly, laziness and arrogance. No matter how many years you've served Her. Take care. Be humble. And don't blame me.

BTW, clicking on most charts will produce the original-sized, i.e., bigger version.

Monday, January 20, 2014

The All Ordinaries Index longer term

When you're in the middle of a soggy market it's easy to forget the longer term performance.

Once again, on a log scale, so a percentage move at 2000 is the same distance on the chart as a percentage move at 5000, even though the number of "points" is not the same.  Also, as per usual,  click to get a bigger chart.

In 2007, the market went "too far" above its longer term trend, and therefore had to fall "too far" in 2008/2009

Yet the long term trend is clearly up.


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