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1.Market Observations, 2.share trading

30 Oct 2017 (AFR) – Why we shouldn’t forget to celebrate a bull market

(30 October 2017, AFR, p23, by Julian Beaumont)

XAO index (monthly, multi-year)

XAO index (monthly, multi-year)

‘While the 1987 stockmarket crash got plenty of attention in recent weeks, there’s another important anniversary to reflect on this week. This Wednesday marks the 10th anniversary of the ASX hitting its all-time high. On November 1, 2007, the S&P/ASX 300 Index closed at 6845 points. Relatively little consideration is given to the bull market that got us there – the market tripled investors’ money in the five years prior – except to seek understanding for what followed. That was the global financial crisis (GFC), in which the market halved in just under a year and a half. The event still plagues the investor psyche today, even though the prior bull run added more value than was lost, and even though someone unlucky to invest just before the crash has gained a not-disastrous 34 per cent since.’ <snipped…>

‘So with that in mind, I thought it worthwhile to list some positives to take account of current conditions, not to present the bull case for equities but to provide balance to an otherwise dominant bearish vibe….’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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