Morning Report Thursday 7 January 2016
Some interesting opportunities on the horizon as panic kicks off 2016
Good morning everyone Overview This morning, as we turned on our Bloomberg machines, a quote by Nelson Mandela summed up investing in 2015 and potentially for 2016:"It always seems impossible until it's done" - Nelson Mandela.While we’re pretty sure Mr Mandela was not considering financial markets when he said this it fits very well with some of the moves experienced by markets in 2015. A few major moves that initially come to mind that many investors would not have thought possible in late 2014 are BHP under $17, Woolworths at $23, a 25% correction by Australian banks, Santos at $3.50 yet Qantas over $4! The moves of the first 3 days of 2016 certainly imply the volatility experienced since August 2015 may continue with the ASX200 already falling 4.4%, the Dow down ~ 600 points, China tumbling 7% in one day and the Japanese Nikkei down ~875 points (4.7%).
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