To begin if you haven’t read Joe Aston’s piece on Gerry Harvey & the impending doom that is facing Harvey Norman then I strongly urge you to do so. He absolutely lines him up & knocks him down re Amazon’s entry to Australia and Gerry’s readiness (and inability) to defend against it. Link below…
Firstly a note on the photo above and no it’s not another drawn out piece on Amazon. It’s the vegan section of a Houston supermarket following the recent floods. When given the choice between starvation and eating vegan Texans appear to be choosing the former. Humans are curious animals. Texans are no exception.
As the threat of nuclear war once again rears its head we reiterate that local risks bear more immediate and higher likelihood of occurrence. It would appear (ex-locally) that everything is a buying opportunity until it isn’t.
As I’ve mentioned so many times before, my dislike of reporting season is immeasurable. It’s a choppy time to be in the markets and a steady hand is needed at all times. How many times have we heard this story?
We thought it prudent to send a note this weekend since the Trump/North Korea situation appears to have moved off Twitter and into the real world. We can’t and won’t predict what exactly will happen in Korea but there are ways to profit & protect capital from the escalation of tensions.
It’s a frustrating thing when writing occasionally funny yet always insightful market commentary that something you’ve been putting together for a week on the unwinding of bond proxies suddenly becomes temporarily moot.
It has often been said the Australian market is made up of banks and miners and little else. The banks are facing headwinds of a housing bubble, regulatory scrutiny & increased taxation. The miners are facing declining oil prices, erratic iron ore pricing and a slowing down of Chinese growth.