Financial & Share Markets Hyperbole
It never fails to amuse me how in various media all the hyperbole surrounding financial and share markets continue unabated. Ask yourself this question: If brokers and advisors could not get it right when the market collapsed in September then how can they possibly assert that it is now safe to invest now in the market at this time. The answer of course is plain for all to see: they have vested interests. However whose interest do they have at heart? With unpredictable markets and global greed inflating stock values combined with market manipulation no one in there right mind would risk their hard earned money blithely without conducting research and asking the advisor some hard questions. In recent days there have been some horror stories about people loosing a lot of their hard earned savings and many have now had to delay retirement plans. One thing that the Rudd Government have done is to guarantee bank deposits to $1million but that in itself lends to the question as to if the government has the capacity to pay if called upon.
Do your own research and careful consider. The old saying Caveat Emptor is right. You may well do better leaving your funds in the bank however make sure you are getting the best interest rates as banks are notorious for giving the least they can.
The current environment has created bank competition for funds because of the lack of cash availability on the marketplace. Use it to your advantage.
Phil once spent 12 years in banking and finance including global treasury, investments, taxation and accounting. This article is his opinion and is provided as information only.