Dear %%first_name%%,
After spending most of my two-hour morning walk working out what to say about the big loss in the US overnight – at one point the Dow dropped 458 points – I’ve come to the conclusion that it’s buying time.
That’s exactly what happened in the US too when everyone dived back in to make sure the Dow closed down just 173.45 points.
It’s the overdue correction I’ve been talking about for months but I know it’s a little bit scary for many investors – including me. On paper you’re losing money and that never feels good! I think it’s time to be courageous and add to your portfolio while prices are cheap. Of course, they may go lower but the thing is, they’re not going to stay there! So remember, fortune favours the brave.
Joining me in this call today is Charlie Aitken. He’s put it in capital letters for emphasis but now’s not the time to get more bearish. It’s a good time to get back into companies like Telstra.
Also in the Switzer Super Report today, we have Ron Bewley explain how his yield portfolio is going during this market correction and Paragem boss, Ian Knox, talks about his fund in My SMSF. Geoff Wilson joins us with some companies to buy on a lower US dollar and in Buy, Sell, Hold –what the brokers say, BHP and Tabcorp get upgrades.
Tony Negline explains why you should really consider starting an aged-based pension this year and we have an exclusive update on the global and Australian art markets from Al Bailey.
The government is about to release the Medibank float prospectus and we answer queries about this, and the banks, in Questions of the Week. We’ll also have an in-depth analysis for you as soon as the Medibank prospectus becomes available.
Sincerely,
Peter Switzer