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Colin Lea's  Instablog

Colin Lea
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The author is Australian with a long term interest and personal stake in financial planning and management. He works within the Financial Services Industry, is a member of the FPA Australia, and is a Certified Gold Seeking Alpha Contributor. Prior professional background of 20 years in military... More
My company:
Carey Group of Companies
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  • Buffet on Treasury
    "That an investor should be prepared to accept just 2.5 per cent for a ten-year exposure to the freshly-downgraded US treasury market is a stark measure of desperation worldwide,’’ Buffett said.

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    Aug 08 9:22 PM | Link | Comment!
  • Taxing ourselves into oblivion
    Today, after a short week at home in Australia, I fly back to the USA. Just after I get on the plane, the Prime Minister will announce her carbon pricing plan for Australia, a move that while sound in theory (and 'feel goodness'...), is not practical from a global perspective. And here's why - prior to moving to the USA, I was supportive of some form of policy action based around a more sustainable way of life and reducing the impact on the planet. Since being in the USA however, I have become aware of the fact that the majority of 350 million people there don't believe in global warming, and have no intention of adopting a similar carbon pricing plan (at least not under any government soon). And looking at the statistics, if all of Australia's efforts over the next 15 years can be wiped out by a <1% rise in China or the USA's emissions, then who are we fooling in trying to play the global good cop. Yes we have an abundance of natural resources, but with tax after tax on top of tax, we will become irrelevant and overpriced. We will in essence be a very lucky country that is too expensive to be competitive, or a good place to live. I've seen a small taste of it this week. I look forward (with trepidation) to the announced carbon pricing plan, and the subsequent (hopefully vocal) reaction by the Australian public.
    Jul 09 7:17 PM | Link | 1 Comment
  • Why does the ASX catch a cold everytime Wall Street sneezes?
    A little bit bemused by this weeks downwards performance of the ASX wiping off many recent gains, which begs the question, "why does the ASX catch a cold every time wall street sneezes?"

    The civil unrest in Lybia is far removed from dominating the overall global oil market, nor from impacting upon the Australian economy directly. Demand for natural resources from Australia remains strong, with strong export requirements with China and Asia enduring, regardless of the political security situation in Lybia, Egypt, Iran or Afghanistan. The AUD is maintaining near parity with the USD, and this looks set to continue on an enduring basis in the medium to long term. Job growth is stable, and recent interest rate rises from the RBA appear to have kept inflation in check within the apparent "two speed economy".

    The Australian economy is strong and capable of performing consistently during intermittent political turmoil abroad. It should therefore be performing at a level above the current downward trend driven by the jitters abroad, and a more positive  performance outlook should be reflected in the all ordinaries and resource stocks, regardless of what Wall Street does. The foundations are there for the ASX to be the tortoise, while Wall Street bounces around like the proverbial hare...
    Mar 10 9:15 PM | Link | Comment!
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