Here are the September 08 performance result for my Private Investment Program 2:
+4% gross returning +3.2% net. this is the best we could do under the circumstances, as our margin bank interest is way up on last month.
In my opinion this isn’t such a bad result considering the massive volatility in the stock market. This program trades on the ASX (Australian Stock Exchange) and trading conditions have been brutal there as well. Here is what our main trader has to say about this global financial mess and how its affecting our program:
“I would like to make it crystal clear before we declare this months trading results, that we are involved in the worst down turn in Equity Trading in decades, World Wide.
It’s of no benefit to any body pointing fingers as to who’s to blame, but we do know as of last Friday they (US Govt.) took the first step, in many, to ease the pressure on credit.
As I mentioned in the last report we had no idea then how the market would react to the US Govt. bail out of their financial system, I seems with a certain amount of caution, till it becomes clear how this rescue package works we will see some very high volatility on the trading floor..”