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As another financial year draws to a close it has occurred to me what happiness is in investing and trading. And it is not making a profit, although that is important. It is rather being comfortable and having few regrets. Or at least not thinking too much about past errors nor when the lord of chance Sir Ko Chun rules against my moves to answer by becoming angry. Thus as with many endeavours it is the experience rather than the result that I try to keep front and centre, but then it was a successful year. Perhaps the next may not be so. And I will not be so so magnanimous to the good knight Ko.

This southerly turn in my fortunes however is not being touted by the bulls. July it is said is a painful month for bears, purely on the figures over the last 20 years. That is as opposed to other months, particularly June. For me this sixth month in the calendar year was one where I lost some of my "winnings" and on the other hand even loosened some longstanding shares from my SMSF for good profit and trimming others for capital losses. I also aged another year, as we all do, and thus my concept of short, medium and long term trades has shifted, so much so that I may discard the concept of long term.

The world has become more complex in 2024, the Israeli and the Palestinian cousins are now quite open about their long term plans for each other and the concept of a fair resolution to this biblical conflict appears further away than it ever did. Neither bunch do themselves much credit in the process and seem content in bringing the rest of the world in to conflict via the Persian and the American cousins. As if this did not make investing more difficult the Russian and Ukrainian cousins seem as set in their fratricidal conflict as ever with the former clinging to allegiances with others such as the Chinese and N. Korean cousins who frankly despise Russia.

Banks all over the world are unsure which way interest rates will move and in all probability will have to consult financial journalists and politicians for guidance as when or in what direction interest rates will move. What chance do I have of predicting this. Fifty percent, no more no less. Inflation though is taking off and families are being cruelled with high mortgage obligations and high rent. Our elected representatives from both the capitalist right and from those who pretend not to be capitalists on the left continue to invest for themselves and their families in negatively geared houses and a perusal of a change in investments on the parliamentary register is probably all one can hope for as guidance from Canberra as to where to invest. Is there enough rope to hang them all?

My only prediction for next financial year is a consolidation and sideways moves on the charts. Unlike many in the ASF community I am unable to predict the future. My excuse is that of the schoolboy " The dog ate my MACD Sir. " I shall continue to watch price and volume, support and resistance and my simple faithful RSI. I will of course continue to read the many wise and enjoyable posts on ASF.

So, HAPPY NEW FINANCIAL YEAR. May you all have few regrets and experience good fortune and be safe and well in FY 2024-2025.

gg