Good time to buy shares

aido79

I've been thinking of buying shares for a while now. Is it a good time to buy now considering all the money that was wiped off Australian shares this week?

http://www.watoday.com.au/business/global-markets-in-turmoil-as-recession-fears-spread-20110805-1ifmo.html

I'm not looking for a return anytime soon and would be happy to keep them for between 2 and 5 years.

Ozeire

According to the TV here the USA wiped a few billion off Aussie shares a few days ago . Alot of people here losing big time on the supers.

So I wouldn't say it's a good time to buy shares . The best advise i ever got about buying shares or property was .

"If you can afford to lose the money and it won't break you or put you in massive debt then invest and buy other wise don’t."

aido79

Just thought it might be a good time to buy now that the share prices are low in the hope that they will probably rise again particularly in the resource sector due to the mining industry in WA.

Norinoco

I have a fair whack of money in the stockmarket at the moment and if I could get out now without making a loss I would run with it!

There are saving account interest rates of up to 6.9% available if you want to make a decent return with no risk...

My tip - when dealing with the share market - always have an exit plan!!

Saying that...shares are cheap, very cheap but I'm no financial adviser!

If you are investing alot and asking this question in boards - get yourself a financial adviser!

csm

I've recently taken out a margin loan with my financial planner girlfriend to buy shares with. I think that the current dips in the market are jitters and you can pick up some good bargains alright BUT 2-5 years is a short-term outlook when the market is volatile like this. There are considerable uncertainties at the moment so you should include that in your thinking. If the euro zone broke up, say, then you would most likely lose money over that time frame.

Can you afford to lose all your investment? If the answer is no then maybe look at mixing asset classes. Metals, forex, term deposits, etc. Or, indeed, just a savings account.

Norinoco, who is offering 6.9%? That's a great rate.

Also, if this is a considerable amount then you really should get financial advice

hussey

You can get 6.8% term deposit with rabo (5years)
the highest saving rate is 6.51% with uBank
I got info from here http://www.ratecity.com.au/savings-accounts

Norinoco - which bank has 6.9% I'd be interested if they do

aido79

I think a high interest account is the way to go. Rabo direct have a premium saver account at 6.1% which looks good.

mandrake04

I would consider gold as a serious option.