Forum Archive Index - August 2002

["tennyson@caverock.net.nz" <tennyson@caverock.net.nz>]

Hi winner69,
 
>
> 
> Of the six isn't it amazing how closely the Australian All Ords 
> has followed the DOW
> 
> Makes you wonder why many fund managers in Oz are saying they have
> moved to an underweight US position and are now overweight Oz
> equities.
> 
>

There is the tiny matter of the $A to $US exchange rate.   The $A has 
appreciated against the $US by around 20% since last September.  That 
means the ASX index hugging investor is actually 20% better off 
(in relative terms) than the chart shows.

It is also interesting to see the Wrightson share price has roughly 
followed the DOW but then has started to trend sideways since the 
start of June.   Perhaps some visual proof that high yield shares are 
indeed less volatile in a sudden downturn?

SNOOPY



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