Another disappointing performance, albeit unsurprising. It was a repeat of May with initial optimism following a supersized Fed rate hike evaporating rapidly. The investment environment has changed. Gone is buying the dips, replaced by selling the rips. There were plenty willing to partake today. At the individual level, Link tumbled 10.6% on renewed concerns surrounding its sale. At the other end of the spectrum, Eagers Automotive shares purred, gaining 5.1% after announcing a share buyback. The S&P/ASX 200 slid 0.15%, falling 9.9 points to close at a fresh year-to-date low of 6591.1.
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Some of the biggest money is made from taking a contrarian view: Macintyre
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