Dull times for the sharemarket

I haven't been updating for very long already. Part of the reason was because I have been sick two weeks ago, and now recovering to become well again. Praise God for that. These few weeks though, I've been pretty busy catching up with university homework that I have barely anytime to catch up with the sharemarket. But so happens that this time around, a whole bucket of stuff has happened in the sharemarket. And I've recently purchased my latest share, and am very confident in the future prospects for that company.

If you live in Australia, it is hard not to have followed the Australian sharemarket these past few weeks. Every time you would turn on your tv, you would hear news on the sharemarket with words accompanying such as bloodshed, turmoil, plunge, freefall and many other bloody words. What happened was the sharemarket dropped 11.4% in the last week, signifying one of the largest drops in a week since 1987. The reason for the drop, however, was a little outward. Our market actually 'followed' the US market into correction, as the US market fell because of the latest credit crisis occurring. Nothing really happened to our economy, in fact, because of the budget surplus for this year our economy is actually quite well protected from the credit crisis happening overseas.

So, nothing has changed, except for the fact that the sharemarket fell 11%. For those smart people who decided to fork out some money to buy some shares after the drop would do well over the short-term and the long-term. Share prices are dropping like water but the fundamentals have not changed at all. If only I have cash right now, I would have been scooping up so many great shares at great prices. To name a few they would be BHP, RAMS Home Loans, Rio Tinto and JB Hi Fi.

The market has since recovered by around 5%. Up to date, the market has still been up 4.3% in the year 2007. The outlook seems good for the future, and I don't see the current mining boom going to end anytime soon. This is a perfect time for investing for the long-term. I am glad that I am currently investing. For all those who would want to be investors, now is a good time. Speaking about more recent events, the ASX Sharemarket game has just been up for registration. I was pretty excited finding out about it, and I have called along some of my friends including my family to join in the game. We are given a fictitious $50,000 to invest in shares over a 2 month period and the winner would be the investor with the highest value portfolio at the end of the 2 months. How exciting! I cannot wait for it to start on September 6th.

Tomorrow I shall be discussing my accounting assignment with a few of my close friends. We are to dwelve into Foster's annual report to find some answers to some questions. I really look forward to these kind of assignments I am given. Praise God for the intelligent lecturers who give us homework regarding the sharemarket. For all my readers out there, I apologise for not updating more often, and shall update more often in the future to educate and entertain everyone about the sharemarket and investing.