Correspondence: Eureka Live and celebrating FoFA

One member looks for more information on movements in the markets, while another applauds the FoFA reforms.

Market moves

Eureka Report publishes three times a week, but I would like to see commentary on movements in the market published more often. That way, less experienced readers can gain some insight as to what drives the market higher/ lower.

DE

Editor’s response: Thank you for your letter. Eureka Report has recently launched Eureka Live, which can be found on our homepage. Eureka Live delivers up-to-date market commentary and news items each business day. I think you will find this a very useful tool to help interpret market moves.

Sir Alan?

Alan, as one of the very earliest subscribers to Eureka Report, I would like to extend my sincere congratulations to you for your victory in the long campaign you pioneered and led to remove the rip-offs prevalent in the finance industry. It has taken a while and the determination of the Opposition does no credit to the reputation of the banks and other wealth managers. In England I am sure you would be rewarded with a knighthood or even a seat in the House of Lords, which I know you would decline!

All the very best for the future,

Alan Read

Seeking advice

Is there a vested interest in the way questions about self-managed superannuation funds are answered?

I am intrigued that questions from those aged over 65 on issues regarding Centrelink and DVA pension tend to be answered with 'seek advice from a professional'.

Surely the primary advice should be 'go discuss with the financial advisers at Centrelink/DVA' and maybe follow up with advice from a professional.

BM

Editor’s response: Thank you for your letter. The advice given in Eureka Report is general in nature and we encourage all subscribers to seek professional advice that is specific to their situation, when required. Of course, subscribers can avail of the financial information service that Centrelink offers if they so wish.

Where is the bull market?

In Clifford Bennett’s latest article, Riding high in a grand bull market, he says that the market is nearly always wrong. How right he is.

As a retired bank manager, having seen and helped many people get rich, being in the right sector at the right time, I have since tried to do that with my super fund.

I saw the GFC coming in 2007, so lightened up stocks including Bow Energy (just before they then went through the roof).

Even after going partly to cash though, my portfolio was still down 50% within about a year.

I have stocks like Beach, Linc and Karoon, and a couple of gold explorers that have all discovered bonanza assets, but their prices have gone nowhere or down.

Technology stocks, like Tissue Therapies Ltd, have been on the cusp of bonanza commercialisation, but thwarted by corruption, I believe, in European certification procedures.

The bottom line is that my portfolio is swamped in red ink. But even the index is still well below the peaks of 2007, so where is this great bull market?

TB

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