Get rich quick!
Read an article on how the ASX recovered from its low of less than 3000 points in March 2003 to its high several days ago of 5000 points. It's take about 2 years for its bull run. Now it seems like we might start to have a bear market.Was talking to some people and the general feeling I've heard is that the market is slowing down. It's not helped by some shares which had stellar performances over the past year, only to see a good percentage of that growth reverse in a couple of months. A prime example is Macquarie Bank. Only in December, it was trading at around AUD $68, 69, even 70 on a good day. Now it's hanging around the high 50s, low 60s mark. A difference of about $10... if only I'd sold mine in December hehe. What has changed in Macquarie's business model? Not much. Sentiment towards the company has changed. No longer is it the darling, daring Aussie company making millions in fees. Somehow its business model has become unsustainable and investors have started dumping the stock since December for this very reason. Only time will tell whether this is true.
Telstra's another example. Around August, September 2005, the buzz was about Telstra 3, the total privatisation of this telecom company. Many colleagues of mine bought a bucket of Telstra shares, anticipating a rise in the market price when T3 is approved by the government. This, however, has not come to pass as yet. The share price was previously hovering around the 3.80, 3.90 mark, and it did break the 4.00 mark for a while. It has now plummeted back down to 3.68, possibly nearing the 3.50, 3.40 price it went down to last time.
I didn't get into the sharemarket the last time it dipped. Laziness and study kinda prevented me from really looking into it seriously. But now, the need to get rich quick is pushing me to consider other money-making (or losing) channels.
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