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Surprise…

12 August 2004 Angelo Coppola

Nico Kelder, economist at the Efficient Group says the yields on the capital market followed suite (fell).

Commodities where mixed – platinum higher by 1.92% and gold lower by 0.27% and oil surged by 1.16%. European markets closed mixed.

US markets closed lower on the back of worse than expected retail sales figures for July while Hewlett-Packard also disappointed the markets. The Far East is lower by 2.25% (Japan) and 0.67% (Hong Kong) so far this morning.

After a healthy local rally yesterday, profit taking may limit upside today. The unexpected rate cut will be an influence for the next few days as the markets digest the news.

 

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QUESTION

Do you believe this is the toughest period for financial advice in many years?

ANSWER

Yes, it’s hard to navigate the challenges and difficult to adapt. I’m struggling.
No, I have managed to navigate the challenges and have adapted. I’m good.
50/50. I just feel like whether we like it or not, we have to ready ourselves for change… be resilient and scale for the future. It’s not about survival of the fittest anymore but survival of the quickest. We just have to move on with life.
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