Marketwrap 2008-2009

  • Volatility still the safest bet

    The market's worst year for more than a quarter of a century is giving way to green shoots of recovery - but with caution in the undergrowth, writes Peter Wells.

  • Chanticleer: How to end up with egg on the face

    Forget the credit crunch - the financial year just ended has been the year of the credibility crunch. A much larger than comfortable number of companies had their reputations belted - some deservedly so and some just for being in the wrong place at the wrong time.

  • True believers are back - to a point

    Equity strategists are daring to believe again. But their hopes that record low interest rates and trillions of dollars spent worldwide to repair fractured economies will engineer a sustained recovery on markets is tinged with more than a hint of fear that sentiment will once again come crashing down.

  • Back from the brink: the year ahead

    A damaging year of heavy losses for investors has drawn to a close. Four leading fund managers spoke to Peter Wells about the lessons learnt and the outlook for the year ahead.

  • Normal service to be resumed

    Boring it most definitely wasn't. We have experienced 12 heady months we won't forget in a hurry.

  • Margin gain offsets losses

    Bad debts exploded, dividends were cut and the federal government had to guarantee bank deposits to stop people stashing their savings under the mattress instead.

  • Fat lady warms up her voice

    Here's a warning to anyone who thinks markets have recovered: it ain't over till the fat lady sings. The fat lady, as far as investors are concerned, are credit markets.

  • China will not save the world

    It was a heart-pumping journey for mining investors over the past year as fortunes swung violently on volatile commodity prices.

  • Maybe it's the bottom of the big hole

    From boom-time prosperity to the pits of despair, it has been a rollercoaster ride for miners as the dream of record commodity prices and soaring demand descended into a nightmare of crippling debt, plant closures and a desperate dash for cash from foreign investors.

  • Cut in rates not out of the question

    Australia's economic growth is likely to remain well below trend over the coming financial year, pushing up unemployment and pushing down inflation.

  • Caution the keyword as stability returns

    United States stocks have staged a remarkable comeback since sinking to a 12-year low in March after one of the most tumultuous periods in Wall Street history, but some investors may be tempted to lock in their gains rather than confront what could be a more challenging second half.

  • Government steps in for consumers

    It was the year the world looked to China for hope amid the worst global economic meltdown since the Great Depression and China responded with a massive stimulus package.

  • Backwash from unemployment may rock recovery

    In a year from now we'll be reminiscing about the "good ol', bad ol' days" of the global financial crisis - right?

  • Finance needed to fuel mergers, acquisitions

    ASX-listed companies raised a record level of equity as overgeared corporations went hunting for new capital to repair debt burdened balance sheets.

  • $A primed for another volatile year

    The Australian dollar set records on the way down and on the way up this past year.

  • Good pickings from government spending spree

    The bond market has provided slim pickings for investors looking to fatten their portfolios in past years. But now they are spoilt for choice.

  • A-REIT investors wait for rebound

    A battered and bruised property sector is valiantly trying to lift itself off the canvas but investors are nervously waiting to see if a near-40 per cent rebound in stock prices since March proves the real deal or a temporary reprieve.