The Aussie market fell 2.1 % this morning.
Our dollar is only 98.5 cents.


[url=http://www.smh.com.au/business/markets/dollar-hits-2012-lows-as-europe-fears-spread-20120518-1yu9v.html Quote:Dollar]hits 2012 lows as Europe fears spread[/url]

[quote]May 18, 2012 - 11:21AM

The Australian dollar slid to its lowest level this year as concerns about Europe's debt troubles spark a rush for greenbacks.

The dollar fell to 98.52 US cents, its weakest point since November 28 last year. It was also buying 78.3 yen, 77.7 euro cents and 62.5 pence.


I'm glad I went into the Capital Guaranteed fund with Aussie Super
back in 2008. I haven't lost any money

yeh what happened to that twirp here who was a financial expert on super funds that kept telling us that we didn't know what we were talking about ? qivktec i think it was.

He will still tell us that you're in it for the long run !! 

To bad if you are retiring now though :(

I'm glad I just came back from overseas.

Sir lastnail wrote on May 18^th, 2012 at 11:43am:

yeh what happened to that twirp who was a financial expert on super funds on here that kept telling us that we didn't know what we were talking about ? qivktec i think it was. He will still tell us that you're in it for the long run !!  To bad if you retiring now though :(

It was verge

Why do ppl think they have lost money when the stock market goes down? If you dont sell then it will still be there when it goes back up. The stock market always goes up and down.

SOB

Sir Spot of Borg wrote on May 18^th, 2012 at 11:59am:

Why do ppl think they have lost money when the stock market goes down? If you dont sell then it will still be there when it goes back up. The stock market always goes up and down. SOB

to bad if you are retiring now though :(

just heard that Spain has slipped back into recession :( Hardly surprising though :(

Sir lastnail wrote on May 18^th, 2012 at 12:06pm:

Sir Spot of Borg wrote on May 18th, 2012 at 11:59am: Why do ppl think they have lost money when the stock market goes down? If you dont sell then it will still be there when it goes back up. The stock market always goes up and down. SOB to bad if you are retiring now though :(

Is that how it works? you take it ALL out @ once?

SOB

Bobby. wrote on May 18^th, 2012 at 11:54am:

Sir lastnail wrote on May 18th, 2012 at 11:43am: yeh what happened to that twirp who was a financial expert on super funds on here that kept telling us that we didn't know what we were talking about ? qivktec i think it was. He will still tell us that you're in it for the long run !!  To bad if you retiring now though :( It was verge

Im the tax expert on how super funds work.

How you invest is you business, but your understanding of the taxation treatment on them has been something Ive had to continually correct, because simply neither of you two understand how that works, but thanks for playing along.

Verge wrote on May 18^th, 2012 at 12:16pm:

Bobby. wrote on May 18th, 2012 at 11:54am: Sir lastnail wrote on May 18th, 2012 at 11:43am: yeh what happened to that twirp who was a financial expert on super funds on here that kept telling us that we didn't know what we were talking about ? qivktec i think it was. He will still tell us that you're in it for the long run !!  To bad if you retiring now though :( It was verge Im the tax expert on how super funds work. How you invest is you business, but your understanding of the taxation treatment on them has been something Ive had to continually correct, because simply neither of you two understand how that works, but thanks for playing along.

Verge,
You owe Nail & me an apology as well as all the readers on Ozpolitics.
In 2008 you told us we were stupid for changing to Capital Guaranteed.
We've done better than all the bunnies who kept their money
in the high risk balanced fund.
All their gains have been wiped out.
Some have actually lost money.

The way Labor is running the economy my only surprise is that it has taken this long for it to happen. 8-)

Doesn't sound serious enough to be termed a crash though.

Frances wrote on May 18^th, 2012 at 1:14pm:

Doesn't sound serious enough to be termed a crash though.

The ASX has lost $100 billion already in May.
It's still diving today.
How would you define a crash?

Yeah. Thats a good question what is defined a "crash"? I have occasionally invested int eh stock market and I have found that over time it usually goes up but thats a lot of time with a bunch of drops along the way.

SOB

It came up a bit but is now going down again.

ASX now at -1.6%.

Bobby. wrote on May 18^th, 2012 at 12:54pm:

Verge wrote on May 18th, 2012 at 12:16pm: Bobby. wrote on May 18th, 2012 at 11:54am: Sir lastnail wrote on May 18th, 2012 at 11:43am: yeh what happened to that twirp who was a financial expert on super funds on here that kept telling us that we didn't know what we were talking about ? qivktec i think it was. He will still tell us that you're in it for the long run !!  To bad if you retiring now though :( It was verge Im the tax expert on how super funds work. How you invest is you business, but your understanding of the taxation treatment on them has been something Ive had to continually correct, because simply neither of you two understand how that works, but thanks for playing along. Verge, You owe Nail & me an apology as well as all the readers on Ozpolitics. In 2008 you told us we were stupid for changing to Capital Guaranteed. We've done better than all the bunnies who kept their money in the high risk balanced fund. All their gains have been wiped out. Some have actually lost money.

Get your hand of it Bobby, I gave no such advise, and even more interestingly I wasnt even a member here in 2008, and you would have no clue what so ever what my name was at yahoo.

Once again, you fail to let the facts get in the way of your pathetic little story.  What a sad life you live.

Sir Spot of Borg wrote on May 18^th, 2012 at 12:14pm:

Sir lastnail wrote on May 18th, 2012 at 12:06pm: Sir Spot of Borg wrote on May 18th, 2012 at 11:59am: Why do ppl think they have lost money when the stock market goes down? If you dont sell then it will still be there when it goes back up. The stock market always goes up and down. SOB to bad if you are retiring now though :( Is that how it works? you take it ALL out @ once? SOB

well the way it is going you'd probably be better off to cut your losses and run ;)

Sir Spot of Borg wrote on May 18^th, 2012 at 1:34pm:

Yeah. Thats a good question what is defined a "crash"? I have occasionally invested int eh stock market and I have found that over time it usually goes up but thats a lot of time with a bunch of drops along the way. SOB

The doomsayers as always are jumping on this as a crash.

This aint no crash, at least not yet. 1987 was a crash. 2008 was a crash.  This is a drop.

Doctor Jolly wrote on May 18^th, 2012 at 2:51pm:

Sir Spot of Borg wrote on May 18th, 2012 at 1:34pm: Yeah. Thats a good question what is defined a "crash"? I have occasionally invested int eh stock market and I have found that over time it usually goes up but thats a lot of time with a bunch of drops along the way. SOB The doomsayers as always are jumping on this as a crash. This aint no crash, at least not yet. 1987 was a crash. 2008 was a crash.  This is a drop.

With losses of 100 bill wiped off the market this month alone and considering the piddly returns from super funds this may as well be a crash !!

As of this time ASX200 is down by 2.4% !!

Will there be a last minute rally at the close of the market today ?

Mattyfisk wrote on May 18^th, 2012 at 11:44am:

I'm glad I just came back from overseas.

I think you are alone with that sentiment...

Verge wrote on May 18^th, 2012 at 2:34pm:

Bobby. wrote on May 18th, 2012 at 12:54pm: Verge wrote on May 18th, 2012 at 12:16pm: Bobby. wrote on May 18th, 2012 at 11:54am: Sir lastnail wrote on May 18th, 2012 at 11:43am: yeh what happened to that twirp who was a financial expert on super funds on here that kept telling us that we didn't know what we were talking about ? qivktec i think it was. He will still tell us that you're in it for the long run !!  To bad if you retiring now though :( It was verge Im the tax expert on how super funds work. How you invest is you business, but your understanding of the taxation treatment on them has been something Ive had to continually correct, because simply neither of you two understand how that works, but thanks for playing along. Verge, You owe Nail & me an apology as well as all the readers on Ozpolitics. In 2008 you told us we were stupid for changing to Capital Guaranteed. We've done better than all the bunnies who kept their money in the high risk balanced fund. All their gains have been wiped out. Some have actually lost money. Get your hand of it Bobby, I gave no such advise, and even more interestingly I wasnt even a member here in 2008, and you would have no clue what so ever what my name was at yahoo. Once again, you fail to let the facts get in the way of your pathetic little story.  What a sad life you live.

Verge,
Yes sorry it was you  - about 2 years ago who gave the bad advice to stay in the balanced fund.
It was Longweekend who carried on in 2008.
I wouldn't expect him to apologise but as you're the sort
of guy who turns left when he boards an aircraft I expect more from you.

Sir lastnail wrote on May 18^th, 2012 at 2:59pm:

Doctor Jolly wrote on May 18th, 2012 at 2:51pm: Sir Spot of Borg wrote on May 18th, 2012 at 1:34pm: Yeah. Thats a good question what is defined a "crash"? I have occasionally invested int eh stock market and I have found that over time it usually goes up but thats a lot of time with a bunch of drops along the way. SOB The doomsayers as always are jumping on this as a crash. This aint no crash, at least not yet. 1987 was a crash. 2008 was a crash.  This is a drop. With losses of 100 bill wiped off the market this month alone and considering the piddly returns from super funds this may as well be a crash !! As of this time ASX200 is down by 2.4% !! Will there be a last minute rally at the close of the market today ?

We''ll see Nail.
I wonder if BHP will get to $20 again?

Greece downgraded to ccc.

$A  at a new low.  98.01

weren't you all bitching about the high AUD last week?

Sir lastnail wrote on May 18^th, 2012 at 2:59pm:

Doctor Jolly wrote on May 18th, 2012 at 2:51pm: Sir Spot of Borg wrote on May 18th, 2012 at 1:34pm: Yeah. Thats a good question what is defined a "crash"? I have occasionally invested int eh stock market and I have found that over time it usually goes up but thats a lot of time with a bunch of drops along the way. SOB The doomsayers as always are jumping on this as a crash. This aint no crash, at least not yet. 1987 was a crash. 2008 was a crash.  This is a drop. With losses of 100 bill wiped off the market this month alone and considering the piddly returns from super funds this may as well be a crash !! As of this time ASX200 is down by 2.4% !! Will there be a last minute rally at the close of the market today ?

S&P/ASX200      4046.5      down arrow      -110.9

You have to admit it's a big drop.

Bobby. wrote on May 18^th, 2012 at 3:15pm:

Verge wrote on May 18th, 2012 at 2:34pm: Bobby. wrote on May 18th, 2012 at 12:54pm: Verge wrote on May 18th, 2012 at 12:16pm: Bobby. wrote on May 18th, 2012 at 11:54am: Sir lastnail wrote on May 18th, 2012 at 11:43am: yeh what happened to that twirp who was a financial expert on super funds on here that kept telling us that we didn't know what we were talking about ? qivktec i think it was. He will still tell us that you're in it for the long run !!  To bad if you retiring now though :( It was verge Im the tax expert on how super funds work. How you invest is you business, but your understanding of the taxation treatment on them has been something Ive had to continually correct, because simply neither of you two understand how that works, but thanks for playing along. Verge, You owe Nail & me an apology as well as all the readers on Ozpolitics. In 2008 you told us we were stupid for changing to Capital Guaranteed. We've done better than all the bunnies who kept their money in the high risk balanced fund. All their gains have been wiped out. Some have actually lost money. Get your hand of it Bobby, I gave no such advise, and even more interestingly I wasnt even a member here in 2008, and you would have no clue what so ever what my name was at yahoo. Once again, you fail to let the facts get in the way of your pathetic little story.  What a sad life you live. Verge, Yes sorry it was you  - about 2 years ago who gave the bad advice to stay in the balanced fund. It was Longweekend who carried on in 2008. I wouldn't expect him to apologise but as you're the sort of guy who turns left when he boards an aircraft I expect more from you.

I have never gave advice on what is the best vehicle in super to use.

I have happily said I am a fan of superannuation, and have advocated largely for self managed funds, simply because I dont like fund managers.

I have never once said which type of investment in super to use be it balanced, cash, Oz only or growth.

As for someone who turns left at the aircraft, you have got me wrong again.  Ive never sat any more than 5 rows from the back of a plane.  Its a weird thing I have, but I know for a fact they dont ever back into a mountain.

Anything else about me you would like to get wrong today.

Bobby. wrote on May 18^th, 2012 at 3:15pm:

Sir lastnail wrote on May 18th, 2012 at 2:59pm: Doctor Jolly wrote on May 18th, 2012 at 2:51pm: Sir Spot of Borg wrote on May 18th, 2012 at 1:34pm: Yeah. Thats a good question what is defined a "crash"? I have occasionally invested int eh stock market and I have found that over time it usually goes up but thats a lot of time with a bunch of drops along the way. SOB The doomsayers as always are jumping on this as a crash. This aint no crash, at least not yet. 1987 was a crash. 2008 was a crash.  This is a drop. With losses of 100 bill wiped off the market this month alone and considering the piddly returns from super funds this may as well be a crash !! As of this time ASX200 is down by 2.4% !! Will there be a last minute rally at the close of the market today ? We''ll see Nail. I wonder if BHP will get to $20 again?

This is no advice to you, but if they get to that again I for one will be buying them.

Bobby. wrote on May 18^th, 2012 at 3:15pm:

Sir lastnail wrote on May 18th, 2012 at 2:59pm: Doctor Jolly wrote on May 18th, 2012 at 2:51pm: Sir Spot of Borg wrote on May 18th, 2012 at 1:34pm: Yeah. Thats a good question what is defined a "crash"? I have occasionally invested int eh stock market and I have found that over time it usually goes up but thats a lot of time with a bunch of drops along the way. SOB The doomsayers as always are jumping on this as a crash. This aint no crash, at least not yet. 1987 was a crash. 2008 was a crash.  This is a drop. With losses of 100 bill wiped off the market this month alone and considering the piddly returns from super funds this may as well be a crash !! As of this time ASX200 is down by 2.4% !! Will there be a last minute rally at the close of the market today ? We''ll see Nail. I wonder if BHP will get to $20 again?

I thought they were over $20 last night? Oh well musta seen wrong. They split one time when they were on about 45 and went down to 20. Prolly go back up.

SOB

everyone PANIC!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

:D :D :D

Verge wrote on May 18^th, 2012 at 12:16pm:

Bobby. wrote on May 18th, 2012 at 11:54am: Sir lastnail wrote on May 18th, 2012 at 11:43am: yeh what happened to that twirp who was a financial expert on super funds on here that kept telling us that we didn't know what we were talking about ? qivktec i think it was. He will still tell us that you're in it for the long run !!  To bad if you retiring now though :( It was verge Im the tax expert on how super funds work. How you invest is you business, but your understanding of the taxation treatment on them has been something Ive had to continually correct, because simply neither of you two understand how that works, but thanks for playing along.

As you are a tax expert on how super funds are taxed,I,am not, but I know how the ATO treats Self Managed Super Funds, but could you please explain, how often the funds value their assets; is it monthly, quarterly, half-yearly or yearly.
If a member would currently want to shift some money from one fund to another, or from a growth fund to cash, what valuation would they use.
Any explanation on this subject would be much appreciated.

red baron wrote on May 18^th, 2012 at 1:11pm:

The way Labor is running the economy my only surprise is that it has taken this long for it to happen. 8-)

Red Baron knows nothing. He doesn't even know what an economy is!!!

Sir lastnail wrote on May 18^th, 2012 at 2:59pm:

Doctor Jolly wrote on May 18th, 2012 at 2:51pm: Sir Spot of Borg wrote on May 18th, 2012 at 1:34pm: Yeah. Thats a good question what is defined a "crash"? I have occasionally invested int eh stock market and I have found that over time it usually goes up but thats a lot of time with a bunch of drops along the way. SOB The doomsayers as always are jumping on this as a crash. This aint no crash, at least not yet. 1987 was a crash. 2008 was a crash.  This is a drop. With losses of 100 bill wiped off the market this month alone and considering the piddly returns from super funds this may as well be a crash !! As of this time ASX200 is down by 2.4% !! Will there be a last minute rally at the close of the market today ?

Mate, people are reallocating their resources to buy up big in facebook!

  ::) ::) ::)

red baron wrote on May 18^th, 2012 at 1:11pm:

The way Labor is running the economy my only surprise is that it has taken this long for it to happen. 8-)

Are you serious?

$35 billion wiped off the Australian stock exchange today.

On the back of European woes.

Do you have any idea of what is happening in the European economy? Do you even know there is a Europe? Do you even know there is a whole other world out there?

There you go, a perfect example of island mentality.

Verge wrote on May 18^th, 2012 at 5:29pm:

Bobby. wrote on May 18th, 2012 at 3:15pm: Sir lastnail wrote on May 18th, 2012 at 2:59pm: Doctor Jolly wrote on May 18th, 2012 at 2:51pm: Sir Spot of Borg wrote on May 18th, 2012 at 1:34pm: Yeah. Thats a good question what is defined a "crash"? I have occasionally invested int eh stock market and I have found that over time it usually goes up but thats a lot of time with a bunch of drops along the way. SOB The doomsayers as always are jumping on this as a crash. This aint no crash, at least not yet. 1987 was a crash. 2008 was a crash.  This is a drop. With losses of 100 bill wiped off the market this month alone and considering the piddly returns from super funds this may as well be a crash !! As of this time ASX200 is down by 2.4% !! Will there be a last minute rally at the close of the market today ? We''ll see Nail. I wonder if BHP will get to $20 again? This is no advice to you, but if they get to that again I for one will be buying them.

Yes - I could have kicked myself for not buying BHP at $20
after the last GFC hit.
They went back up to over $40 so selling on the high
would have doubled one's money.


BHP got down to $31.010  today at it's lowest.
Buy in gloom - sell in boom.


http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=bhp#closing_prices

Sir lastnail wrote on May 18^th, 2012 at 12:06pm:

Sir Spot of Borg wrote on May 18th, 2012 at 11:59am: Why do ppl think they have lost money when the stock market goes down? If you dont sell then it will still be there when it goes back up. The stock market always goes up and down. SOB to bad if you are retiring now though :(

If you have left your super fund in higher risk investments within 5 - 10 yrs of retirement then you are a fool and deserve to be broke.

Higher risk ie the share market is for when you are younger and have time to ride the peaks and troughs, NOT when you are about to retire.

So for most retirees the market is irrelevant as their money is now in cash.

You would know that if you took a few minutes to do basic research.  >:(

2% drop is not a crash. some of you people could do with an education in the meanings of words.

longweekend58 wrote on May 19^th, 2012 at 9:57am:

2% drop is not a crash. some of you people could do with an education in the meanings of words.

If the media says "AAAAAAAAH ITSA CRASH" then its a crash isnt it?

SOB

Sir Spot of Borg wrote on May 19^th, 2012 at 10:13am:

longweekend58 wrote on May 19th, 2012 at 9:57am: 2% drop is not a crash. some of you people could do with an education in the meanings of words. If the media says "AAAAAAAAH ITSA CRASH" then its a crash isnt it? SOB

The USA market was only down a bit overnight so
all is well for now.
Is it time to pick up a bargain?