on petrol, banks and super

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    Is it just me or does petrol seem really expensive, during the gulf invasion oil was roughly $36 a barrel, now it's at $29, a drop of roughly 20%, also the dollar has strengthend from .55 to .65, making the purchase of the already 20% cheaper oil 20% more cheaper. Yet after all this ULP has dropped, on the most expensive days, from $1.12 to .98, a drop of ONLY around 14%!!

    Banks, great to invest in in the 90's, bit risky now due to the heavy mortgage exposures,but keep you money in a credit union, much cheaper for day to day banking, and safer, as the credit unions have a fund set up just incase there is a run on deposits. There is the mis conception that the RBA guarantees bank deposits, it's not true. One more thing the ANZ increased fee's and cut in half there rewad points scheme they have on there visa card, making creit unions even more atractive.

    My employee super is with NAB, a mix of 25% capital stable, 25% fixed interest and 50% balanced, this made a lossin the 12 months ending in june this year. My personal super, which I realocated out of property into 25% Jap shares, 50% fixed interest and 25% capital stable in may, in one month, mainly because of the jap shares made roughly 12%!! I get the feeling that NAB because you have to put your money into it does not really care about performance, they just stick your money into blue chips and turn their back, not the smartest investing.

    there it's off my chest.

    regards.
 
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