Australian versus Canadian equities markets
Posted on 26 May 2010
I’d like to be able to clone the Humble Student of the Market’s ability to see the market for what it is. His latest thoughts on going long the Australian market against the Canadian are well worth a read (you will find it here).
It’s an incestuous world we live in these days, so in keeping with that thought, following is his chart of the trading of the Australian ETF against the Canadian ETF:
The obvious conclusion is that based on the last decade, the Aussie market is treading into relative value territory.
It’s reasonable to argue that the Super Resource Profits Tax has been an important catalyst for the recent price action. The miners (and their shareholders) must be hating the idea that this tax might be infectious.
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