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Global Mining Investing is a reference eBook to teach investors how to think and act as investors with a underlying theme of managing risk. The book touches on a huge amount of content which heavily relies on knowledge that can only be obtained through experience...The text was engaging, as I knew the valuable outcome was to be a better thinker and investor.

While some books (such as Coulson’s An Insider’s Guide to the Mining Sector) focus on one particular commodity this book (Global Mining Investing) attempts (and does well) to cover all types of mining and commodities.

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Wednesday, September 17, 2008

Australian ASX falls to 4620 support

Last week I suggested that the All Ordinaries Index was likely at a support level. In the wake of the financial fiasco over the course of last week, the market has fallen even further to a new support level of 4620 points. I do not expect this market to fall further again. In fact its 2:20pm and I think over the next 1.5 hours we are going to see the ASX fall back to its morning lows before we see bargain hunters to move in. So I see the last half hour as a time to buy in the Australian market.
I have considerable confidence that this is not the end of this 'super cycle', though I do believe the US will have to raise interest rates to increase savings. We are looking at a higher interest rate environment, we are looking at more subdued levels of economic activity, but there is not a huge overhang of capacity, so I see a full recovery within a few years, and likely a new rally being built within a year. I don't see any reason why people should not start buying.
It will be interesting to see how the market closes today. Its not good for the market to close at its low. It shows the Australian market is uncertain and looking to the US market for direction. I will be buying before the close because there will not be an opportunity when the US market shows its bottom tomorrow. I already identified my target stocks last week.
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Andrew Sheldon www.sheldonthinks.com

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Investment Strategy

If you are investing for the long term, you still need an investment strategy. Dont be fooled by the rhetoric of fund managers. The reason they advise you to 'buy & hold' is because they dont want to compete with you in sell-offs. Markets and industrial sectors are cyclical, so they demand trading to get the best returns. Fund managers actually cant hope to match the performance of small investors (if you are half good) because they have to manage huge amounts of funds and charge you a fee besides.
MY ADVICE is (i) look at a range of market indices and decide upon what level of correction would give you the justification you need to get in & out of the market. It might be a 5-10% retracement or a break of trend. (ii) Diversify if you dont have an intimate knowledge of the company or management. More than 30% in one company is aggressive.

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