The trend is no friend

Earnings projections for ASX 200 companies is for a lift of just 5%, and the trend is downward.

PORTFOLIO POINT: Anaemic growth among ASX 200 companies, with a trend to the downside, gives Australian investors little reason to be excited by equities.

The reason the Australian sharemarket has lost its status as a safe haven was spelt out in a recent survey: 90% of all profits for the ASX 200 companies in 2010-11 were generated by the big four banks and the major resources companies.

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