Hope it's a good omen!

[the foto fanatic]

As Patrick points out, today is the first day of a new (financial) year - and boy, does it need to be better than the last one!

Perhaps some of our fund managers and other money gurus were aboard this Brisbane CityCat this morning on their way to work, because if a view like this doesn't give you a gigantic rush, nothing will.

[sirhc55]

Looks like the holocaust to me

Very nice capture.

[Matt. K]

Now THAT'S a sunset!! Great image capture!

[zafra52]

It is a beautiful sunrise; unless those managers work at night, which would explain a great deal!

[surenj]

Holy Carp! That is one mean sunrise. You have certainly started the year all guns blazing!

[biggerry]

maybe its a prediction for the new year? in the red!

great picture though!

[Onyx]

POT(F)Y!

[aim54x]

VERY nice!! Red is good to many asian cultures...good fortune...so lets hope this new financial year brings us all good fortune...I know I will need it!

[Big V]

Very dramatic

[gstark]

Trevor,

I'm beginning to worry about you: how early did you need to get up in order to capture such a great shot?

[Reschsmooth]

Great shot - it looks apocolyptic!

Regarding the new financial year - just remember it is one year (or if you consider the last two, two) out of a long term. If people stopped looking at the market every day, week, or month, they would be a lot calmer and make better investment decisions.

Oh, and when you start reading forecasts for the next 6-12 months, file them in the appropriate area. They are worth their wait in sh$t.

[the foto fanatic]

Trevor,

I'm beginning to worry about you: how early did you need to get up in order to capture such a great shot?

Took the photo at 6:30 am...

but I was up for a fair while before that!

[the foto fanatic]

Great shot - it looks apocolyptic!

Regarding the new financial year - just remember it is one year (or if you consider the last two, two) out of a long term. If people stopped looking at the market every day, week, or month, they would be a lot calmer and make better investment decisions.

Oh, and when you start reading forecasts for the next 6-12 months, file them in the appropriate area. They are worth their wait in sh$t.

Yep. You have only to read the papers to realise that no-one can tell the future. When Wall St is up overnight, the recovery is underway. When the All Ords are negative for a day, the sky is falling in and you need to sell everything.

I spent 40 years in the financial services sector, and while there has been a quantum leap in transparency over that time, the consumer isn't yet being fully equipped with information. Look here.

And, I'm not just bagging advisers - I was one. The fund managers, product designers and actuaries are are more to blame really.

Unfortunately, people also tend to congratulate themselves when the market runs in their favour, but bag their adviser when the market turns down. You just can't win sometimes.

[biggerry]

stopped looking at the market every day, week, or month, they would be a lot calmer and make better investment decisions

I think i looked at once several years ago, that was teh first and the last....why am i not a millionarie?

but I was up for a fair while before that!

unless you where still kicking on from teh night before...i cannot think of a reasonable excuse for this...

[gstark]

but I was up for a fair while before that!

unless you where still kicking on from teh night before...i cannot think of a reasonable excuse for this...

That's pretty much my point.

[Reschsmooth]

I spent 40 years in the financial services sector, and while there has been a quantum leap in transparency over that time, the consumer isn't yet being fully equipped with information. Look here.

And, I'm not just bagging advisers - I was one. The fund managers, product designers and actuaries are are more to blame really.

Unfortunately, people also tend to congratulate themselves when the market runs in their favour, but bag their adviser when the market turns down. You just can't win sometimes.

It's a shame I wasn't more into self promotion, otherwise I would post this link.

I disagree that the fund managers, et al are to blame. The advisers who take commissions and who are incentivised to:

1. Recommend a product that pays a higher commission.
2. Recommend, inappropriately, that a client borrow money to invest to increase commissions or funds under advice from which fees are charged.

are to blame.

Fund managers will do what any business will do - try to increase sales and profits.

It is the sales force who scream "we are not influenced by commissions" yet are paid by a third party, not the client, who are often hypocritical.

Most advisers will try to do the right thing by their client. Unfortunately, they work in a structurally compromised system where they are paid by the product manufacturers.

Until this is rectified, my industry will not be considered a profession. And the Storm Financials will continue to exist, and Westpoint/Timbercorp products will still be sold to consumers.

What is required is a government funded incentive for the average consumer who is, with all due respect, financially illiterate, to seek independent advice, as hard as that is to find. A tax rebate on planning fees is the best way to encourage those who need advice the most to get it. Tax deduction of planning fees only helps the wealthy.

Sorry, just a little off topic.

[Killakoala]

Back on topic.

Cool photo. Quite impressive and so typical for the warmer north to put on such a lovely show of light.

But remember red sky in the morning is a sailor's warning, red sky at night is a sailors delight.

[chrisk]

wow. thats insane colour