December 2007

It's a wrap - almost

Well here we are - at the end of 2007 and post the annual Babes in Business lunch. Ord Minnett has been pleased to be associated with the Babes in Business membership through our Silver Sponsorship throughout 2007 and the Annual Lunch. A table of my clients joined me at the lunch and all my guests thoroughly enjoyed the day. So much so, some even kicked on to later in the evening! All however enjoyed the opportunity to 'let their hair down and frock up' for the afternoon and enjoy good food, company and the day's events. After such a busy year, we all appreciated an afternoon of fun!

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I'm not going to discuss too much about the markets in this final column for 2007, although a recap of the year may be an appropriate way to complete the year. As years go in investment markets, 2007 has been a changeable one. With an explosive start out of the blocks and a generally positive tone throughout the first half, financial markets in August were sharply reminded that with return, goes risk. Currently, the stock market is very attentive to events in the credit market and the ramifications for the real global economy. While the US economy appears weak, developing economies still look to be in rude health. The Australian economy can be included as one of the more robust economies, in large part driven by the developing economies of China and India. Many economists are currently commenting on how the Australian market is 'de-coupling' from the US market and is being aligned more with Asia. While some companies have benefited more than others, we can continue to look and find value in the Australian sharemarket for our clients in 2008.

On that note, I would like to thank the Babes directors and membership for allowing me to contribute to the group throughout 2007. I do hope the columns have provided some new ideas or thoughts to ponder about the markets and investing in them. For those who have joined as clients at Ord Minnett, thank you for your support and I look forward to a continued successful relationship with you, both professionally and personally.

Finally, I would like to wish you all a very Merry Christmas and hope that the coming New Year brings you and your loved ones much happiness and prosperity and as always.

Wise Investing ...

Anne Williamson Ord Minnett Limited p 07 3214 5540 m 0412 292 641 e awilliamson@ords.com.au w www.ords.com.au