A year of painful super growth down the gurgler

Of course if your super money was in your own Self Managed Super Fund (SMSF) and you had invested in gold, the gold component of your fund would be up over 15% YOY, if you went with silver instead it would be up over 80% YOY.

From The Sydney Morning Herald:

FEAR and uncertainty swept global markets yesterday as panic spread about Europe's debt crisis and economic problems in the United States, prompting investors to wipe more than $60 billion from local share values.

The rout stoked concerns of a new global financial crisis and triggered expectations of a cut in interest rates to help prevent Australia sliding into recession.

Within minutes of opening, Australian stocks plunged more than 4 per cent, with oil and mining companies leading the market towards its biggest fall in more than 2½ years. Shares have lost more than 17 per cent from the peak in mid-April. These losses are likely to have wiped out last year's 8.9 per cent average gain in balanced superannuation funds, where most Australians have super invested....read on