Dear %%first_name%%,
Local stocks are copping it today after the bad US jobs numbers dragged sentiment even lower. The market was down by almost 10% in May, which means we’re entering the correction zone and we’ll need Europe’s leaders to get their house in order so that we can avoid a crash. In the meantime, let’s hope the Reserve Bank of Australia is smart enough to cut rates tomorrow.
In today’s Switzer Super Report, we welcome a new expert, Geoff Wilson from Wilson Asset Management. He kicks off his first column with an introduction to Listed Investment Companies (LICs), which he’s found to be a ‘superior investment’. Our chart of the week uncovers when the buying opportunities in this dip will emerge, while our weekly broker wrap of stock buys and sells has five new companies rated buy. Plus, we give you the heads up on how to save on your private health insurance, and we fill you in on the Tax Office’s final ruling on borrowing in your SMSF.
Hang in there, it’s going to be another bumpy week in the market. All the best.
Sincerely,
Peter Switzer
You have four weeks until the end of the financial year to get your self-managed super fund in order. Make sure to read through Andrew Bloore's checklist of things you need to complete now to make sure your tax return is as tax effective as possible.