Australian Equities Heavily Polarised

I've stated this a couple of times this year: Australia has a problem at the top of its share market. This is not a good development since the Top 12 of largest listed stocks makes up about half of the share market. But consider this: only two (2) members of the Top 12 have posted a positive return for shareholders over the past twelve months. This number grows to six (yes, 6!) if we extend our sample to the Top 20. Less than half of the Top50 is on a positive roll. This becomes a smidgen more than half for the larger indices. It's a polarised market out there, but the gap between the haves and the not-haves is as large as I can ever remember. Blackmores is up 400%. BHP Billiton down 33%. Domino's Pizza is up 64%. Santos is down 60%. Origin Energy is down 59%. More than before this year's investment return has been determined by what is not in the portfolio. Banks + Resources anyone? (VIEW LINK)


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