The good news kept rolling in during a bumper week on the ASX. Hear all about it on the latest episode of the Motley Fool Monday podcast.
The post What to make of all this good news? appeared first on The Motley Fool Australia. –
Wow, what a week.
The ASX set a post-pandemic high.
Bitcoin set an all-time high.
And a Bitcoin trading company floated, and its shares went through the roof.
Speaking of which, so did Australian consumer confidence, which set an 11 year high.
And the AFR reported that three prominent economists have essentially declared Australia has ‘fully recovered’ from the pandemic.
How about the unemployment rate falling from 5.8% to 5.6%?
Prefer raw numbers?
We have more Australians in work, today, than at any other time in our history.
That’s a pretty good set of numbers, huh?
The best number of all might just be that we — still — have zero cases of COVID spread by community transmission.
What should you make of it all?
I’m glad you asked… because we covered all of that, and more, in this week’s episode of the Motley Fool Money podcast, which was released just yesterday!
Yes, we have underemployment.
Yes, some people are worried about whether or not the stock market is overvalued (I don’t think so, for the record).
Yes, our borders are still closed.
And yes, we have an eye-watering amount of national (government) debt.
Not to mention skyrocketing house prices.
(But don’t worry… the bosses of CBA and Westpac this week told a parliamentary committee there was nothing to worry about. Fancy that!)
Here’s the thing, though.
It’s important not to let the worries get to you.
Not because they shouldn’t be addressed.
But because the economy and stock market tend to grow — over the long term — regardless.
(And because the people who are now telling you how risky everything is, now that we’ve recovered, are the same people who were telling you that we wouldn’t recover at all! Yes, there’s a theme.)
My very first article for The Motley Fool was a localised version of an exhortation given by Warren Buffett.
He told New York Times readers, to “Buy American. I am.” My version, three years later, was (unoriginally) “Buy Australian. I am.”
And I’m going to finish today, with a similar Australianisation of another of Buffett’s key lines.
See, you adopt pessimism at your peril.
As Buffett might say if he was born here (and simply substituting “Australia’s” for “America’s” from Buffett’s original):
“Though the path has not been smooth, our economic system has worked extraordinarily well over time. It has unleashed human potential as no other system has, and it will continue to do so. Australia’s best days lie ahead.”
Have a great weekend. (And don’t forget to check out the podcast!)
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of February 15th 2021
- These were the best performing ASX 200 shares last week
- These were the worst performing ASX 200 shares last week
- This underperforming ASX large cap is sitting on a ~10% dividend yield
- Housing prices outpace the Commonwealth Bank (ASX:CBA) share price
- ASX 200 edges higher, Origin crunched, Mineral Resources falls
Scott Phillips has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Bitcoin. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.