Investor cash obsession worries wealth creatorsBY MARK SMITH | MONDAY, 19 NOV 2012 10:35AMDespite growing speculation that the next bull market run is just around the corner, historically low interest rates, and a call by RBA governor Glenn Stevens for investors to return to shares, investors' remain unwaveringly committed to cash. |
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Robert De Dominicis
CHIEF EXECUTIVE OFFICER
GBST HOLDINGS LIMITED
GBST HOLDINGS LIMITED
It was during a family sojourn to the seaside town of Pescara, Italy, Rob DeDominicis first laid eyes on what would become the harbinger of his future. Andrew McKean writes.
Yes the wealth creators are feeling the pinch. Got a letter from an Industry Super Fund extolling the virtues of diversification. The result for 1 and 5 years was clearly in favour of Diversified Fixed Interest but we all know that past performance is not indicative of future returns. It seems investors have discovered the motto " A bird in the hand is worth two in the bush " or did they get offended at being called Muppets ? Hmm I wonder...
All institutions, except those engaged in these confidence eroding practices, have an interest in returning the market to its basic and important economic function of supporting capital formation and making a market for willing buyers and willing sellers.