The Secret Broker: Investing for Dummies? There’s an app for that
The Secret Broker
The Secret Broker
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If you’re a financial planner, please stop reading now.
Well, with Wednesday out of the way, I am pleased to announce that the winner of the TSB Golden ASX Achievement Award 31st July 2019 goes to Target Energy Ltd (ASX: TEX).
They managed to fall flat on their face, with their quarterly paperwork held high in hand, and land bang on the finishing line at 7.30pm.
This kind of athletic heroism topped off my night. Target proudly announced to the world an income of zero plus $1000 cash in the bank. My, my.
As they are already suspended, there was no need to rush it through in such a dramatic fashion, though I did enjoy the suspense of waiting for the document to download and bring this part of the duck shooting season to a dramatic nail-biting finish.
Now, with all these feathers and bullets flying around, some of you may have missed the launching of a new investment app.
I never thought that I would ever put these words in the same sentence, but the Commonwealth Bank have produced something very useful for their customers without any account keeping fees.
The clever bit of this app is that it allows anyone to get involved with stock investing, from as little as $50 and a commission rate of just $2 on up to $1000.
You download the app, then choose from seven different ETFs (Exchange Traded Funds) in which to invest.
This is another nail in the coffin for financial planners, as it is the start of more products to come that champion the Millennials towards financial independence and the freedom from the need to ever speak to anyone ever again.
They can just grunt, push a button and bingo, they have just invested in Apple, Facebook, Google, Microsoft etc and then go straight back to trying to win US$3m by playing Fortnite.
But there is much more in all of this news, as there is also something here that you may not realise – the icing on the cake for a very clever Australian, of whom you should all be proud of, Graham Tuckwell.
He grew up in Canberra and, thanks to his genius, managed to escape and go and live on the milk and tax friendly island of Jersey.
Jersey is famous for its cows (long before A2 milk, they were producing it) and also famous for having no inheritance tax or capital gains tax.
A young Graham came up with an idea that helped the ETF market become a U$1 trillion market. In fact, to give you a clue on the size of the market ETFs control, around 5.6% of Apple stock is held by ETFs.
Graham’s idea was to create an ETF that held physical gold. He wanted to make it easy to have gold in a portfolio and it took him eight years of bread and water before anyone seriously invested in his idea.
He is now a BRW Rich Lister and together with his wife donated $50 million to the ANU, so others can become educated. He says that education was the only thing that got him out of Canberra and this is probably why Barnaby and all the other politicians still can’t. (Actually, he didn’t say the last bit, I did.)
So, just like Graham Tuckwell, the kid who escaped from Canberra, and Target Energy, the stock that dreams of one day relisting, you should never ever give up that dream. And with a CommSec rocket in your pocket, it may allow it to shift a touch nearer.
Disclaimer: The Secret Broker does own a CBA bank account but he did not receive any payment for promoting a CommSec product, though a lunch at Beppi’s next Friday would be perfectly acceptable, if he can choose the wine.
At Stockhead, we eat it as it is.
The Secret Broker can be found on Twitter here @SecretBrokerAU. Feel free to contact him with your best stock tips and ideas.