Hi guys. I'm sorry I missed last week's note. Its been a big week. I've been seeing a number of clients, and its super interesting to hear different investors' points of view. From commercial property devaluations, hard landing, soft landing, no landing, recession, credit crunch, the list goes on.

How good was this past weekend for sport? The Pies getting up against the Cats, and the Matilda's in a thriller against France - according to my 6 year old son, the penalty shoot out was "epic".

A client emailed me on Saturday night with the results of their home auction from that afternoon. They weren't the only ones pleased with the result - I was super happy for them. It's been a long-time coming, but they got there in the end, and now onto new adventures!

I watched The Karate Kid last week. It's not the first time I've seen it, but it was the first time I watched it with my two boys - it was so nostalgic for me. By the end of the movie I could see the same energy in my eldest son as when I first watched the movie - a belief, the inspiration, the fight, the triumph.

What a difference three months makes? Click here to read my comments from the last quarter. From cracks and fragile markets to new stock bull markets, property prices bottoming out, and inflation back down the 3% (US YoY).

And that's a wrap for the first half of the year, and the results are in. Stocks are (much) higher than they were at the beginning of the year. How did you do? I have no idea how you did, here's what the market delivered investors: