Henry Thornton writes:

Henry notes eerie similarities in theme to a report by the ACCC on the
subject of Telstra’s competition habits to his own Grade 3 report from all those
years ago. The similarities including the recommendation that Henry receive
immediate counselling and to stop stealing the other children’s lunch. Read on

The markets took a bit of a hammering yesterday, with another 2% wiped away
in the second day of “carnage” on the trot, and following on from the troubles
on Wall St. Henry issues a slight “ahem” and urges punters to remember that the
falls of the last couple of days are merely giving back a small portion of the
double digit gains of the last few months. You only lose if you sell.

If any of our more conservative readers are looking for a sound investment,
you could do worse than to jump on a nice little small-cap Henry has become
aware of ASX: VICGOV.

Still on the markets, Alex Erskine discusses what lies ahead for hedge
funds and takes issue with Madame Buttonwood of The Economist who has cast
serious aspersions against hedge funds as investment vehicles. “It is times like
this, after long-only investing has been like shooting goldfish in a bowl, that
hedge funds (also known as absolute return funds, with the ability to go short
as well as long) should come into their own for investors.”

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