Grand Angus escapes Doreen's daze
AFTER three weeks as a bridesmaid to Doreen Daze, reader Angus Hutchinson has pipped her at the post in the dash to the finish line. He's finished the financial year in style.
AFTER three weeks as a bridesmaid to Doreen Daze, reader Angus Hutchinson has pipped her at the post in the dash to the finish line. He's finished the financial year in style.The mixed luck of our share racers - half finished in positive territory and half didn't - is rather indicative of the performance of the local market during the past financial year.The ASX/S&P 200 is down 8.5 per cent since April but is still in positive territory for the 12 months just ended. In fact, the local market is 7.1 per cent higher than it was 12 months ago.It's almost like one step forward and two steps back. Or is that two steps forward and one step back?I'm sorry, all this volatility is making me a little dizzy.Angus definitely has a clear mind. His star performer was Foster's Group, which is undergoing a takeover bid from SABMiller. The initial bid of $4.90 a share didn't please the board but there is speculation SABMiller might lift it to $5.50 a share.Such a lift could bring board approval and the stock was buoyed on analyst expectations.Angus's other picks weren't big jumpers - four of them fell during the four weeks - but rose just enough to keep him in front.Even though he had our, and possibly the market's, worst stock in his 10, David Potts moved up a spot last week to finish in sixth rather than seventh place.Richard Pritchard was our biggest loser, thanks to Gunns, Emerald Oil & Gas, Arafura Resources, Narhex Life ... well thanks to almost every stock in his portfolio except for Alkane Resources and BHP Billiton. Better luck next time Richard - you'll need it!Penny Pryor