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Loading ...Please tell me when the share market started to decline
April 2, 2008 by Josie Kay
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Q. I listen to the show every week. Could you please tell me with reasonable accuracy when the share market started to decline. Thanks Robyn
Josie’s answer: Hi Robyn. Thanks for your question and I am crossing my fingers that your investments have not suffered too much with the recent volatility.
I am assuming you are referring to the All Ordinaries Index, which represents the top 500 stocks listed on the Australian Share Market.
This index appears to have peaked on 1st November 2007 at 6853. As at today’s date (2nd April 2008), the index closed at 5544, which means it has dropped approximately 19% since that date (as you would know it has been lower!).
To get back to its peak, the market now needs to increase by nearly 24%. Who knows when it will reach its peak again, but historically speaking it is not unusual to see it exceed its previous high within 5 months.
A word of warning – lots of experts around with opinions, but remember they can only rely on historical and current economic data, but can’t predict the future (otherwise we would be mega rich, probably jumping into our private jet, drinking cocktails and having a rip roaring time). Good luck.
Don’t forget that the above information is general in nature and not specific to your goals and objectives. It is recommended that you seek personal financial advice specific to your needs. Thanks for posting your question on www.askjosiekay.com. As you know, this is a free service and if you found it useful, we would be chuffed if you told your friends, family and workmates about www.askjosiekay.com – free financial advice by a Certified Financial Planner. No strings attached! Wishing you happy money organisation.
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