ASX All Ords

The ASX All Ords will fall badly today.  All news are bad.  When all the stars are aligned, my portfolio will be hammered.  The worse is the falling gold price.  Actually it isn't bad at +USD$1700 per oz but the recent trend is downwards.  Compounding it, is the AUD which rose a little in spite of markets tumbling and China unwinding.

IMF has sounded a warning about the world economy but strangely, the market performance is out of sync very often.  I still like gold because it is easy to calculate, and there is no big discovery anywhere, meaning no greatly enhanced supply of it.  But gold price can be manipulated due to hoarding by Central Banks around the world and by some traders.

When in gloom, stick to La Banks....  At least the dividends are great.  I rarely sell my bank shares; they are my pillars.  I got rid of NAB in 2010 because it had the worst management.  There was a recent article on bank returns compared to earnings (interests) from bank deposit.  And when it compared the banks... NAB was the worst over that period.  I felt smart momentarily.