Quote:
Originally Posted by Peter Ward
I disagree.
The ASX all-ords will be back around 5900 by years end.
Many Oz stocks are already paying 6-8% fully franked......it won't take long for the market to realize the $A is oversold and there is intrinsic value in many Oz companies.
I suspect the current manipulation of the $A is to get these assets even cheaper.
|
The ASX won't be rallying 15% from here over the next 4 months, but typically what we see when the Aussie is low is an increase in company takeovers by well funded overseas entities looking at our cheap assets. That's an area where money can be made. Then spend the profits on Astro gear!
Greg is very close to the money. Since the dollar was floated, you could throw a dart at it around 75 cents. It trends around that value, and often the trend goes further and lasts longer than anyone predicts.