Something is going on in the Australian interbank market – spreads are rising and the banks seem to be losing faith in each other. It’s one thing for the community to lose faith in them but banks doing it is what happened in 2007-8. So this morning Alan Kohler tells you what’s going on, and what it might mean.
There’s some news this morning about North Korea and Italy, as well as the US-China trade negotiations, and Alan has looked into the latest geopolitical anxieties.
And what’s a reasonable fee for a financial adviser to charge for managing a $7 million portfolio? $32,000 compounding at 4% pa? A reader wanted to know, so Alan told him it was outrageous but also probably the best you’ll do, which is the whole problem with the financial advice industry.
Alan was also asked about best performing Listed Investment Companies or LICs this week and thanks to another member, he has got some performance data on all of them.
And finally, Alan is contemplating the past and the future, what with Amazon selling facial recognition to law enforcement bodies, a raft of blockchain news, and an enzyme that eats plastic, which may reduce pollution as well as the world’s need for oil.