August 2007 produced a positive gain after two negative months in a row for the Australian sharemarket price index (All Ords). The last three months have been -0.5%, -2.0% and +1.0%. At one stage during August the All Ords was down 8% for the month. Fancy selling practices of home mortages in the US and even fancier financial engineering by banks to shift-on the risk in a global pass-the-parcel, have seen all major stock markets with a dose of the wobbles.
Posted Saturday, 1 September 2007
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