Tuesday, 29 January 2008

Share Market Plunge

In January 2008, the Aussie share market dropped as much as 18% in value at one point. Similar plunge were seen world wide in markets across Europe, Asia and America due largely to the debt and housing crisis in America.

My managed fund investments took a massive hit during January, dropping around $8K in value.

Not a good start to my millionaire quest is it? LOL.

Despite the global share market meltdown, the Australian economy and that of China and India are still charging ahead strongly. There is no sign of a recession here! I am confident that over the coming months the Aussie share market will continue to regain its value and eventually make new highs.

Over the long term (7 or more years), shares is still the best way to make money, and I am here for the long term.