Dear %%first_name%%,
Let’s forget about that very boring debate last night for a minute and have a good hard look at the market. September can be a dodgy month for stocks in the US, while October is the least favourite month for Australian shares. It doesn’t matter what stage of the cycle we’re in, I’m always on guard at this time of year.
Read some of the things that might go wrong in my analysis below. But I still believe whatever happens will only be short-term, so – buy the dips!
Also in the Switzer Super Report today, don’t miss our reporting season rundown, where James Dunn details which companies are announcing earnings this week and what it could mean for your SMSF’s bottom line. Paul Rickard writes a very interesting article on hedge funds and when and how to add them to your portfolio.
Property guru Margaret Lomas explains why it’s important not to get caught up in the property frenzy, and our weekly auction statistics highlight just how warm the property market is actually getting. Rudi Filapek-Vandyck discovers some good news for financials out of reporting season – IRESS and Henderson get upgrades – and do you know what Bitcoin is? We reveal all below.
Sincerely,
Peter Switzer
Did you know there is a virtual currency – also called a cryptocurrency – out there called Bitcoin that aims to transcend borders and paper. This morning, one Bitcoin was trading at $113.50, after trading as low as $US15 early this year.
There are 11.5 million Bitcoins in existence, but there is programed to be 21 million Bitcoins created, after which the total number will remain unchanged.
It has no central authority and is open-source but it is gaining in recognition, which could partly be a result of the Winklevoss twins, made famous through the Facebook movie, announcing their intentions to launch a Bitcoin ETF last month.
It is also gaining credibility after a US Federal judge last week announced that Bitcoin investments met the definition of a “security”, which enables the US Securities and Exchange Commission to pursue a case against an operator of a Bitcoin ponzi scheme.