Morning Report Thursday 1 May 2014
**ANZ 1H cash profit increases by 11% to $3.5B**Opportunities presenting as profit taking hits best performing stocks
While all eyes will be on the market’s reaction to ANZ’s solid result this morning and an all-time closing high by the Dow, I would rather step back from my favourite subjects of recent weeks and scan my eyes elsewhere. Also I note last night, Iron Ore fell almost 3% to US105/tonne, a solid break under $100 is likely to bring Fortescue (FMG) back on my radar to buy. However, today I am revisiting the healthcare sector, one that has carried very high valuations due to its strong fundamentals as the Australian population ages rapidly. If the “value sell off” has another leg, which I believe it will, in months to come a couple of excellent stocks will potentially present excellent buying opportunities. Investors need to have well laid plans for such an event, remember Warren the below famous quote:Warren Buffett — 'Be Fearful When Others Are Greedy and Greedy When Others Are Fearful'
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